HB Wealth Management LLC Raises Holdings in Comcast Corporation $CMCSA

Key Points

• HB Wealth Management LLC increased its stake in Comcast by 5.6%, owning 289,000 shares valued at approximately $10.31 million at the end of the recent quarter.
• Comcast reported $1.25 EPS for the quarter, beating estimates of $1.18, along with a revenue increase of 2.1% year-over-year, totaling $30.31 billion.
• The company announced a quarterly dividend of $0.33 per share, representing a 4.2% dividend yield with a payout ratio of 21.82%.

HB Wealth Management LLC lifted its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 5.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 289,000 shares of the cable giant's stock after acquiring an additional 15,310 shares during the period. HB Wealth Management LLC's holdings in Comcast were worth $10,314,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CMCSA. Inlight Wealth Management LLC purchased a new stake in Comcast in the first quarter valued at approximately $26,000. Cranbrook Wealth Management LLC boosted its position in Comcast by 86.0% in the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock valued at $27,000 after buying an additional 350 shares during the last quarter. Global Trust Asset Management LLC boosted its position in Comcast by 906.8% in the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant's stock valued at $27,000 after buying an additional 671 shares during the last quarter. Abound Financial LLC purchased a new stake in Comcast in the first quarter valued at approximately $29,000. Finally, Ransom Advisory Ltd purchased a new stake in Comcast in the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Trading Down 0.7%

Shares of NASDAQ:CMCSA opened at $31.49 on Tuesday. Comcast Corporation has a 1 year low of $31.03 and a 1 year high of $45.31. The firm has a market capitalization of $116.27 billion, a price-to-earnings ratio of 5.20, a price-to-earnings-growth ratio of 1.90 and a beta of 0.93. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. The business's 50 day moving average price is $33.06 and its 200-day moving average price is $34.28.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The firm had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. During the same quarter last year, the firm posted $1.21 EPS. The business's revenue was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. Comcast's dividend payout ratio (DPR) is 21.82%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CMCSA shares. Loop Capital dropped their target price on Comcast from $50.00 to $44.00 and set a "buy" rating on the stock in a research report on Monday, September 22nd. Sanford C. Bernstein dropped their target price on Comcast from $37.00 to $36.00 and set a "market perform" rating on the stock in a research report on Wednesday, September 10th. Barclays decreased their price target on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Moffett Nathanson upped their price objective on Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Finally, Scotiabank upped their price objective on Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $40.11.

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.

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