L2 Asset Management LLC Purchases New Shares in Comcast Co. (NASDAQ:CMCSA)

L2 Asset Management LLC acquired a new stake in Comcast Co. (NASDAQ:CMCSAGet Rating) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 6,537 shares of the cable giant’s stock, valued at approximately $329,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CMCSA. Morgan Stanley boosted its position in Comcast by 10.9% in the 2nd quarter. Morgan Stanley now owns 40,850,065 shares of the cable giant’s stock valued at $2,329,271,000 after buying an additional 3,998,777 shares during the last quarter. Keudell Morrison Wealth Management boosted its position in shares of Comcast by 1.5% in the 3rd quarter. Keudell Morrison Wealth Management now owns 27,615 shares of the cable giant’s stock worth $1,545,000 after purchasing an additional 411 shares during the last quarter. Avidian Wealth Solutions LLC boosted its position in shares of Comcast by 4.1% in the 3rd quarter. Avidian Wealth Solutions LLC now owns 10,578 shares of the cable giant’s stock worth $592,000 after purchasing an additional 413 shares during the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of Comcast by 23.1% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 27,213 shares of the cable giant’s stock worth $1,522,000 after purchasing an additional 5,109 shares during the last quarter. Finally, Creative Planning boosted its position in shares of Comcast by 9.0% in the 3rd quarter. Creative Planning now owns 414,009 shares of the cable giant’s stock worth $23,156,000 after purchasing an additional 34,322 shares during the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

In related news, CEO David N. Watson sold 65,410 shares of Comcast stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $45.69, for a total transaction of $2,988,582.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.35% of the company’s stock.

Several research analysts have recently issued reports on the company. Truist Financial lowered Comcast from a “buy” rating to a “hold” rating and reduced their price target for the stock from $70.00 to $50.00 in a research report on Tuesday, March 1st. Bank of America downgraded Comcast from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $67.00 to $50.00 in a research note on Friday, April 29th. Oppenheimer dropped their price objective on Comcast from $75.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, April 14th. Royal Bank of Canada raised Comcast from a “sector perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a research note on Monday, January 24th. Finally, Rosenblatt Securities assumed coverage on Comcast in a research note on Tuesday, April 19th. They set a “neutral” rating and a $51.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $59.46.

Shares of NASDAQ:CMCSA traded up $0.09 during midday trading on Friday, reaching $41.48. The company had a trading volume of 29,683,734 shares, compared to its average volume of 28,019,254. Comcast Co. has a 1-year low of $39.47 and a 1-year high of $61.80. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.02. The stock has a market cap of $188.04 billion, a PE ratio of 13.38, a P/E/G ratio of 0.85 and a beta of 0.97. The business’s 50 day moving average price is $45.28 and its 200 day moving average price is $48.37.

Comcast (NASDAQ:CMCSAGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The cable giant reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Comcast had a return on equity of 15.92% and a net margin of 11.96%. The business had revenue of $31.01 billion during the quarter, compared to analysts’ expectations of $30.40 billion. During the same quarter last year, the company posted $0.76 earnings per share. Comcast’s quarterly revenue was up 14.0% on a year-over-year basis. On average, research analysts expect that Comcast Co. will post 3.55 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Tuesday, July 5th. Comcast’s payout ratio is currently 34.84%.

Comcast Company Profile (Get Rating)

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.

Further Reading

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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