Towercrest Capital Management Raises Stake in Comcast Co. (NASDAQ:CMCSA)

Towercrest Capital Management increased its stake in Comcast Co. (NASDAQ:CMCSAFree Report) by 43.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,960 shares of the cable giant’s stock after acquiring an additional 2,123 shares during the quarter. Towercrest Capital Management’s holdings in Comcast were worth $273,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Steph & Co. increased 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 buying an additional 371 shares during the period. Strategic Financial Concepts LLC purchased a new position in Comcast during the 2nd quarter valued at about $27,000. OLD Point Trust & Financial Services N A bought a new stake in shares of Comcast in the 4th quarter valued at about $28,000. IAG Wealth Partners LLC lifted its position in shares of Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after purchasing an additional 522 shares during the period. Finally, Pineridge Advisors LLC bought a new position in shares of Comcast during the fourth quarter valued at approximately $32,000. Institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

NASDAQ CMCSA traded down $0.19 on Friday, hitting $39.61. The company had a trading volume of 18,549,208 shares, compared to its average volume of 19,988,055. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. The company’s fifty day moving average price is $39.24 and its 200-day moving average price is $39.83. The company has a market capitalization of $155.41 billion, a PE ratio of 10.48, a PEG ratio of 1.05 and a beta of 1.01. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.11.

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

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a $0.31 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a dividend yield of 3.13%. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Pivotal Research reduced their price objective on shares of Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Seaport Res Ptn downgraded Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 24th. The Goldman Sachs Group assumed coverage on Comcast in a research report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price objective for the company. Finally, Benchmark reaffirmed a “buy” rating and set a $55.00 target price on shares of Comcast in a research report on Monday, May 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $45.78.

View Our Latest Report on Comcast

Comcast Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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