Meridian Wealth Management LLC Raises Stock Position in Comcast Co. (NASDAQ:CMCSA)

Meridian Wealth Management LLC grew its stake in Comcast Co. (NASDAQ:CMCSA) by 94.8% during the third quarter, Holdings Channel.com reports. The fund owned 14,325 shares of the cable giant’s stock after acquiring an additional 6,972 shares during the period. Meridian Wealth Management LLC’s holdings in Comcast were worth $598,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Koshinski Asset Management Inc. grew its stake in Comcast by 0.8% in the third quarter. Koshinski Asset Management Inc. now owns 30,584 shares of the cable giant’s stock valued at $1,277,000 after acquiring an additional 249 shares during the period. Taurus Asset Management LLC raised its holdings in Comcast by 2.9% during the third quarter. Taurus Asset Management LLC now owns 9,125 shares of the cable giant’s stock worth $381,000 after acquiring an additional 253 shares in the last quarter. Regent Peak Wealth Advisors LLC raised its holdings in Comcast by 3.1% during the third quarter. Regent Peak Wealth Advisors LLC now owns 8,445 shares of the cable giant’s stock worth $353,000 after acquiring an additional 257 shares in the last quarter. Abich Financial Wealth Management LLC raised its stake in Comcast by 4.7% in the third quarter. Abich Financial Wealth Management LLC now owns 5,829 shares of the cable giant’s stock valued at $243,000 after buying an additional 260 shares during the period. Finally, Greenwich Wealth Management LLC raised its stake in Comcast by 2.7% in the second quarter. Greenwich Wealth Management LLC now owns 9,754 shares of the cable giant’s stock valued at $382,000 after buying an additional 261 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CMCSA. Scotiabank upgraded Comcast from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $47.75 to $48.00 in a research note on Friday, November 1st. Pivotal Research raised their price objective on Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 1st. StockNews.com lowered Comcast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. Macquarie raised their target price on Comcast from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, November 18th. Finally, KeyCorp increased their target price on shares of Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.19.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $43.47 on Monday. The company’s 50-day moving average is $41.98 and its 200 day moving average is $40.05. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $166.34 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.11.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The business had revenue of $32.07 billion for the quarter, compared to analysts’ expectations of $31.78 billion. During the same period in the previous year, the business posted $1.08 EPS. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts forecast that Comcast Co. will post 4.26 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Wednesday, January 8th. Comcast’s dividend payout ratio is presently 33.33%.

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.