Aviance Capital Partners LLC Raises Position in Comcast Co. (NASDAQ:CMCSA)

Aviance Capital Partners LLC increased its position in Comcast Co. (NASDAQ:CMCSA) by 17.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,300 shares of the cable giant’s stock after acquiring an additional 9,640 shares during the period. Aviance Capital Partners LLC’s holdings in Comcast were worth $2,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Comcast Price Performance

NASDAQ:CMCSA opened at $43.00 on Tuesday. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11. The stock’s fifty day moving average is $41.67 and its two-hundred day moving average is $39.93. The company has a market capitalization of $164.54 billion, a P/E ratio of 11.56, a P/E/G ratio of 1.63 and a beta of 1.00. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.06. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The firm had revenue of $32.07 billion for the quarter, compared to analyst estimates of $31.78 billion. During the same period in the previous year, the firm earned $1.08 EPS. Comcast’s revenue was up 6.5% on a year-over-year basis. Equities analysts expect that Comcast Co. will post 4.25 EPS for the current 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 $0.31 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 annualized dividend and a dividend yield of 2.88%. Comcast’s dividend payout ratio is presently 33.33%.

Wall Street Analyst Weigh In

Several research firms have commented on CMCSA. Benchmark reiterated a “buy” rating and set a $55.00 price objective on shares of Comcast in a research note on Wednesday, October 30th. StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. Macquarie increased their price objective on Comcast from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday. Wells Fargo & Company lifted their target price on shares of Comcast from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.88.

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.