Cerity Partners LLC increased its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 8.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,121,927 shares of the cable giant's stock after acquiring an additional 86,014 shares during the quarter. Cerity Partners LLC's holdings in Comcast were worth $41,399,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of CMCSA. Inlight Wealth Management LLC acquired a new position in shares of Comcast in the 1st quarter worth $26,000. Abound Financial LLC purchased a new position in shares of Comcast during the first quarter valued at $29,000. Retirement Wealth Solutions LLC grew its holdings in shares of Comcast by 126.9% during the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after buying an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new position in shares of Comcast during the fourth quarter valued at $33,000. Finally, Global Wealth Strategies & Associates grew its holdings in shares of Comcast by 203.4% during the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after buying an additional 600 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.
Comcast Stock Down 1.2%
NASDAQ CMCSA opened at $34.99 on Friday. The firm has a market cap of $130.64 billion, a PE ratio of 8.60, a price-to-earnings-growth ratio of 1.71 and a beta of 0.95. Comcast Corporation has a one year low of $31.44 and a one year high of $45.31. The stock's 50 day simple moving average is $34.96 and its 200 day simple moving average is $35.43. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65.
Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.08. The business had revenue of $29.89 billion for the quarter, compared to analyst estimates of $29.82 billion. Comcast had a return on equity of 19.70% and a net margin of 12.72%. Comcast's revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $1.04 EPS. As a group, sell-side analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.
Comcast Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 annualized dividend and a yield of 3.77%. Comcast's dividend payout ratio is currently 32.43%.
Wall Street Analyst Weigh In
A number of brokerages have commented on CMCSA. Bernstein Bank lowered their target price on Comcast from $38.00 to $37.00 and set a "market perform" rating on the stock in a research note on Friday, April 25th. Moffett Nathanson boosted their target price on Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. New Street Research lowered their target price on Comcast from $44.00 to $38.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Oppenheimer lowered their target price on Comcast from $55.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Finally, Wells Fargo & Company downgraded Comcast from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $37.00 to $31.00 in a research note on Monday, April 14th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $40.98.
View Our Latest Analysis 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.
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