Graypoint LLC Has $1.39 Million Stock Position in Comcast Co. (NASDAQ:CMCSA)

Graypoint LLC cut its stake in Comcast Co. (NASDAQ:CMCSA) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,153 shares of the cable giant’s stock after selling 813 shares during the period. Graypoint LLC’s holdings in Comcast were worth $1,385,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fairscale Capital LLC bought a new position in shares of Comcast in the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC acquired a new stake in Comcast during the 2nd quarter valued at $27,000. IAG Wealth Partners LLC raised its position in Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 522 shares during the last quarter. McClarren Financial Advisors Inc. boosted its stake in Comcast by 365.4% in the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after purchasing an additional 570 shares in the last quarter. Finally, Archer Investment Corp grew its holdings in shares of Comcast by 177.1% during the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after purchasing an additional 519 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of CMCSA stock opened at $44.19 on Friday. The company has a market capitalization of $171.13 billion, a P/E ratio of 11.88, a price-to-earnings-growth ratio of 1.61 and a beta of 1.00. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72. The company’s 50 day moving average price is $41.00 and its two-hundred day moving average price is $39.66.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $32.07 billion during the quarter, compared to the consensus estimate of $31.78 billion. Comcast had a return on equity of 19.81% and a net margin of 11.92%. Comcast’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $1.08 earnings per share. On average, analysts expect that Comcast Co. will post 4.25 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.81%. Comcast’s payout ratio is presently 33.33%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Pivotal Research upped their price target on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Scotiabank raised shares of Comcast from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $47.75 to $48.00 in a research note on Friday, November 1st. Wells Fargo & Company boosted their price objective on shares of Comcast from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Macquarie reiterated a “neutral” rating and issued a $40.00 price objective on shares of Comcast in a research report on Friday, November 1st. Finally, Rosenblatt Securities restated a “neutral” rating and set a $45.00 target price on shares of Comcast in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.75.

About Comcast

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.