Red Door Wealth Management LLC Acquires 731 Shares of Comcast Co. (NASDAQ:CMCSA)

Red Door Wealth Management LLC grew its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 5.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,417 shares of the cable giant’s stock after buying an additional 731 shares during the quarter. Red Door Wealth Management LLC’s holdings in Comcast were worth $582,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Steph & Co. raised its stake in shares of Comcast by 154.6% during the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after acquiring an additional 371 shares during 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 buying an additional 475,675 shares during the period. OLD Point Trust & Financial Services N A bought a new stake in shares of Comcast in the 4th quarter worth approximately $28,000. Pineridge Advisors LLC purchased a new position in shares of Comcast during the fourth quarter valued at approximately $32,000. Finally, Financial Synergies Wealth Advisors Inc. raised its holdings in shares of Comcast by 336.9% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock valued at $33,000 after acquiring an additional 593 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were 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 $6,380,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.26% of the company’s stock.

Comcast Stock Performance

Shares of NASDAQ CMCSA traded up $0.88 during trading on Friday, reaching $39.16. 38,288,913 shares of the company traded hands, compared to its average volume of 19,560,456. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13. The firm has a 50 day simple moving average of $38.71 and a 200-day simple moving average of $41.39. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.46. The stock has a market capitalization of $153.65 billion, a PE ratio of 10.36, a P/E/G ratio of 0.98 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.06. The company had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $0.92 earnings per share. Equities research analysts anticipate that Comcast Co. will post 4.21 earnings per share for the current year.

Comcast Announces Dividend

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 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Wednesday, July 3rd. Comcast’s dividend payout ratio is 32.80%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CMCSA shares. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 price target on shares of Comcast in a research report on Friday, April 26th. Oppenheimer restated an “outperform” rating and issued a $55.00 target price on shares of Comcast in a research note on Wednesday, April 3rd. StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 22nd. Evercore ISI reissued an “outperform” rating and set a $50.00 price objective on shares of Comcast in a research report on Tuesday, March 26th. Finally, Benchmark reissued a “buy” rating and set a $55.00 price objective on shares of Comcast in a research note on Monday, May 13th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Comcast currently has a consensus rating of “Hold” and an average price target of $48.62.

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.