Matrix Asset Advisors Inc. NY Purchases 87,242 Shares of Comcast Corporation $CMCSA

Key Points

• Matrix Asset Advisors increased its Comcast stake by 9.7%, purchasing 87,242 shares in the second quarter to hold 991,213 shares valued at approximately $24.3 million.
• Comcast exceeded quarterly expectations with $1.04 in EPS and $29.94 billion in revenue, although revenue declined 1.2% year over year.
• Comcast declared a quarterly dividend of $0.33 per share, equating to a 5.0% annualized yield; analysts maintain a consensus “Hold” rating with a $32.96 target price.

Matrix Asset Advisors Inc. NY grew its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 9.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 991,213 shares of the cable giant's stock after purchasing an additional 87,242 shares during the quarter. Comcast makes up approximately 2.0% of Matrix Asset Advisors Inc. NY's holdings, making the stock its 21st biggest position. Matrix Asset Advisors Inc. NY's holdings in Comcast were worth $24,334,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Allied Private Wealth LLC purchased a new position in shares of Comcast in the second quarter worth approximately $26,000. Imprint Wealth LLC purchased a new stake in Comcast during the third quarter valued at approximately $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Comcast during the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC raised its position in Comcast by 75.5% in the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock worth $27,000 after acquiring an additional 401 shares during the period. Finally, Main Street Group LTD purchased a new position in shares of Comcast during the 1st quarter worth $27,000. Institutional investors own 84.32% of the company's stock.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $26.18 on Friday. The stock has a market cap of $92.90 billion, a PE ratio of 8.47, a price-to-earnings-growth ratio of 1.45 and a beta of 0.67. Comcast Corporation has a 1 year low of $21.28 and a 1 year high of $34.45. The firm has a fifty day moving average price of $23.80 and a 200-day moving average price of $26.90. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.07. The company had revenue of $29.94 billion for the quarter, compared to analysts' expectations of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. Comcast's revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.25 EPS. Equities analysts anticipate that Comcast Corporation will post 3.52 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, October 28th. Stockholders of record on Wednesday, October 7th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Wednesday, October 7th. Comcast's payout ratio is presently 42.72%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Sanford C. Bernstein restated a "market perform" rating and issued a $28.00 price objective on shares of Comcast in a research note on Monday, July 13th. Moffett Nathanson lowered their target price on Comcast from $53.00 to $52.00 and set a "buy" rating on the stock in a research report on Tuesday, June 16th. Wells Fargo & Company set a $23.00 target price on Comcast and gave the company an "underweight" rating in a research report on Friday, July 24th. Scotiabank set a $29.00 price target on Comcast in a report on Friday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised Comcast from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $34.00 to $32.00 in a research note on Tuesday, June 30th. Eleven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $32.96.

Comcast Company Profile

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

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