Moran Wealth Management LLC Acquires New Stake in Comcast Corporation $CMCSA

Key Points

• Moran Wealth Management LLC has acquired a new stake in Comcast Corporation, purchasing 148,409 shares valued at approximately $5.3 million in the second quarter.
• Analysts have recently adjusted their price targets for Comcast, with a consensus rating of "Hold" and an average target price of $39.94.
• Comcast's quarterly dividend of <$0.33>, which will be paid on October 22nd, represents an annual yield of 4.4% and is supported by a low dividend payout ratio of 21.82%.

Moran Wealth Management LLC acquired a new stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 148,409 shares of the cable giant's stock, valued at approximately $5,297,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Inlight Wealth Management LLC acquired a new stake in Comcast during the 1st quarter worth about $26,000. Cranbrook Wealth Management LLC grew its holdings in Comcast by 86.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock worth $27,000 after acquiring an additional 350 shares during the period. Global Trust Asset Management LLC grew its holdings in Comcast by 906.8% during the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant's stock worth $27,000 after acquiring an additional 671 shares during the period. Abound Financial LLC acquired a new stake in Comcast during the 1st quarter worth about $29,000. Finally, Ransom Advisory Ltd acquired a new stake in Comcast during the 1st quarter worth about $29,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CMCSA has been the subject of a number of recent analyst reports. KeyCorp decreased their price target on Comcast from $45.00 to $43.00 and set an "overweight" rating for the company in a report on Friday, October 3rd. UBS Group set a $43.00 price objective on shares of Comcast in a research report on Friday, October 3rd. Rosenblatt Securities increased their price objective on shares of Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Comcast from $46.00 to $44.00 and set a "buy" rating on the stock in a research report on Monday, October 6th. Finally, Moffett Nathanson increased their price objective on shares of Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Comcast presently has a consensus rating of "Hold" and an average target price of $39.94.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $29.99 on Wednesday. Comcast Corporation has a fifty-two week low of $29.39 and a fifty-two week high of $45.31. The stock has a market cap of $110.73 billion, a price-to-earnings ratio of 4.96, a PEG ratio of 1.74 and a beta of 0.94. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The firm's 50-day simple moving average is $32.37 and its 200 day simple moving average is $33.83.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The business had revenue of $30.34 billion for the quarter. As a group, research analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 4.4%. Comcast's dividend payout ratio (DPR) is presently 21.82%.

Comcast 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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