Providence Capital Advisors LLC Buys 16,500 Shares of Comcast Co. (NASDAQ:CMCSA)

Providence Capital Advisors LLC lifted its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 13.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,172 shares of the cable giant’s stock after acquiring an additional 16,500 shares during the period. Providence Capital Advisors LLC’s holdings in Comcast were worth $5,607,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Resources Management Corp CT ADV grew its position in Comcast by 12.7% in the second quarter. Resources Management Corp CT ADV now owns 16,230 shares of the cable giant’s stock valued at $636,000 after purchasing an additional 1,832 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in Comcast by 2.8% in the second quarter. Evergreen Capital Management LLC now owns 79,557 shares of the cable giant’s stock valued at $3,115,000 after acquiring an additional 2,153 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in Comcast by 13.0% in the second quarter. Public Sector Pension Investment Board now owns 543,928 shares of the cable giant’s stock valued at $21,300,000 after acquiring an additional 62,514 shares during the last quarter. Steel Grove Capital Advisors LLC lifted its stake in Comcast by 1.2% in the second quarter. Steel Grove Capital Advisors LLC now owns 43,342 shares of the cable giant’s stock valued at $1,697,000 after acquiring an additional 508 shares during the last quarter. Finally, DRW Securities LLC lifted its stake in shares of Comcast by 171.5% during the 2nd quarter. DRW Securities LLC now owns 58,242 shares of the cable giant’s stock worth $2,276,000 after buying an additional 36,788 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CMCSA. Evercore ISI cut their target price on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Macquarie reaffirmed a “neutral” rating and set a $40.00 price target on shares of Comcast in a research report on Wednesday, July 24th. KeyCorp lowered their price target on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 price target on shares of Comcast in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $45.78.

Comcast Stock Up 1.5 %

Comcast stock opened at $40.73 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.11. The firm’s fifty day moving average is $39.61 and its 200 day moving average is $39.62. The company has a market capitalization of $159.81 billion, a PE ratio of 10.78, a PEG ratio of 1.03 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last released its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The company had revenue of $29.69 billion for the quarter, compared to the consensus estimate of $30.02 billion. During the same quarter in the previous year, the company earned $1.13 EPS. Comcast’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, sell-side analysts predict that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 3.04%. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

Comcast Company Profile

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.