Caprock Group LLC increased its stake in shares of Comcast Co. (NASDAQ:CMCSA – Free Report) by 61.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 141,158 shares of the cable giant’s stock after buying an additional 53,735 shares during the quarter. Caprock Group LLC’s holdings in Comcast were worth $5,528,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMCSA. Steph & Co. raised its position in Comcast by 154.6% in the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after purchasing an additional 371 shares during the period. OLD Point Trust & Financial Services N A purchased a new position in shares of Comcast during the 4th quarter worth approximately $28,000. Pineridge Advisors LLC acquired a new stake in Comcast in the 4th quarter valued at approximately $32,000. Financial Synergies Wealth Advisors Inc. increased its stake in Comcast by 336.9% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock worth $33,000 after purchasing an additional 593 shares during the period. Finally, IAG Wealth Partners LLC increased its position in shares of Comcast by 204.7% during the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after acquiring an additional 522 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Seaport Res Ptn cut shares of Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. Evercore ISI dropped their target price on Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. BNP Paribas downgraded Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target for the company. in a report on Tuesday, June 11th. Rosenblatt Securities reiterated a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a report on Wednesday, July 24th. Finally, Pivotal Research decreased their target price on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $45.78.
Comcast Trading Down 0.5 %
NASDAQ CMCSA opened at $39.61 on Friday. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11. The firm has a 50-day moving average price of $39.24 and a 200 day moving average price of $39.83. The stock has a market capitalization of $155.41 billion, a P/E ratio of 10.48, a P/E/G ratio of 1.05 and a beta of 1.01. 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 (NASDAQ:CMCSA – Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. The firm had revenue of $29.69 billion for the quarter, compared to analyst estimates of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. Comcast’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.13 earnings per share. Equities research analysts expect that Comcast Co. will post 4.23 EPS for the current year.
Comcast Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.13%. The ex-dividend date is Wednesday, October 2nd. Comcast’s payout ratio is currently 32.80%.
Comcast 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.
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