Range Financial Group LLC Takes $200,000 Position in Comcast Co. (NASDAQ:CMCSA)

Range Financial Group LLC acquired a new stake in shares of Comcast Co. (NASDAQ:CMCSA) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 4,621 shares of the cable giant’s stock, valued at approximately $200,000.

A number of other large investors have also recently made changes to their positions in the stock. Steph & Co. lifted its holdings in Comcast by 154.6% in the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after purchasing an additional 371 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. lifted its holdings in Comcast by 299.1% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock worth $28,000 after purchasing an additional 475,675 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new position in Comcast in the 4th quarter worth approximately $28,000. Pineridge Advisors LLC purchased a new position in Comcast in the 4th quarter worth approximately $32,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in Comcast in the 4th quarter worth approximately $34,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Price Performance

Shares of CMCSA stock opened at $38.48 on Tuesday. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.46. The stock has a market capitalization of $150.98 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 0.96 and a beta of 1.00. The stock has a fifty day simple moving average of $38.79 and a two-hundred day simple moving average of $41.49. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.13.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.06. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The business had revenue of $30.06 billion during the quarter, compared to analysts’ expectations of $29.83 billion. During the same period in the prior year, the business earned $0.92 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, analysts predict that Comcast Co. will post 4.21 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Wednesday, July 3rd. Comcast’s dividend payout ratio is 32.80%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CMCSA shares. StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a report on Friday, March 22nd. BNP Paribas cut Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price objective on the stock. in a report on Tuesday, June 11th. Citigroup decreased their price objective on Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Wells Fargo & Company decreased their price objective on Comcast from $47.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Comcast in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $48.62.

Insiders Place Their Bets

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the completion of the sale, the insider now directly owns 2,000,000 shares in the company, valued at approximately $6,380,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.26% of the company’s stock.

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.