Oppenheimer Asset Management Inc. increased its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 1.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 891,911 shares of the cable giant's stock after buying an additional 9,940 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Comcast were worth $32,912,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Promus Capital LLC purchased a new position in Comcast during the fourth quarter valued at approximately $25,000. Inlight Wealth Management LLC purchased a new position in Comcast during the first quarter valued at approximately $26,000. Retirement Wealth Solutions LLC lifted its holdings in 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 purchasing an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new position in Comcast during the fourth quarter valued at approximately $33,000. Finally, Global Wealth Strategies & Associates lifted its holdings in 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 purchasing an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have weighed in on the stock. UBS Group set a $44.50 price target on shares of Comcast in a report on Friday, April 25th. KeyCorp reduced their price objective on shares of Comcast from $47.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company cut shares of Comcast from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $37.00 to $31.00 in a research report on Monday, April 14th. Argus cut shares of Comcast from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, Barclays reduced their price objective on shares of Comcast from $37.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Comcast presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.10.
Read Our Latest Stock Analysis on Comcast
Comcast Stock Up 1.8%
NASDAQ:CMCSA traded up $0.62 during mid-day trading on Tuesday, reaching $35.21. The company's stock had a trading volume of 24,318,495 shares, compared to its average volume of 22,017,886. Comcast Corporation has a 1 year low of $31.44 and a 1 year high of $45.31. The stock has a fifty day moving average of $34.53 and a 200-day moving average of $35.70. The firm has a market capitalization of $131.46 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 1.69 and a beta of 0.95. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.06.
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, beating the consensus estimate of $1.01 by $0.08. The business had revenue of $29.89 billion during the quarter, compared to analyst estimates of $29.82 billion. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The company's quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.04 earnings per share. Equities research analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.
Comcast Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast's payout ratio is 32.43%.
About Comcast
(
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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