7,567 Shares in Comcast Corporation $CMCSA Acquired by National Wealth Management Group LLC

Key Points

• National Wealth Management Group LLC invested $279,000 in Comcast Corporation by acquiring 7,567 shares, indicating confidence in the cable giant's future performance.
• Comcast reported earnings of $1.25 per share, surpassing expectations, with revenue of $30.31 billion for the quarter, marking a 2.1% increase compared to the previous year.
• The company declared a quarterly dividend of $0.33 per share, resulting in an annualized yield of 3.9%, with a payout ratio of 21.82%.

National Wealth Management Group LLC purchased a new position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,567 shares of the cable giant's stock, valued at approximately $279,000.

A number of other hedge funds have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Comcast by 7.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,085,141 shares of the cable giant's stock worth $113,839,000 after acquiring an additional 219,329 shares during the period. Integrated Wealth Concepts LLC increased its position in Comcast by 13.4% during the first quarter. Integrated Wealth Concepts LLC now owns 96,399 shares of the cable giant's stock worth $3,557,000 after acquiring an additional 11,393 shares during the period. Invenomic Capital Management LP acquired a new stake in Comcast during the first quarter worth about $4,065,000. Jacobs Levy Equity Management Inc. acquired a new stake in Comcast during the first quarter worth about $19,983,000. Finally, DnB Asset Management AS grew its stake in Comcast by 2.3% during the first quarter. DnB Asset Management AS now owns 777,761 shares of the cable giant's stock worth $28,699,000 after buying an additional 17,329 shares in the last quarter. 84.32% of the stock is owned by institutional investors.

Comcast Price Performance

Shares of CMCSA traded down $0.04 during mid-day trading on Friday, reaching $33.91. The company had a trading volume of 21,111,306 shares, compared to its average volume of 19,544,478. The company's 50 day simple moving average is $34.03 and its 200 day simple moving average is $34.67. Comcast Corporation has a 1-year low of $31.03 and a 1-year high of $45.31. 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 company has a market capitalization of $125.20 billion, a price-to-earnings ratio of 5.60, a P/E/G ratio of 2.03 and a beta of 0.93.

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

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is presently 21.82%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CMCSA. Citigroup reiterated a "buy" rating on shares of Comcast in a research note on Tuesday, August 26th. Barclays reduced their price objective on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. 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 note on Thursday, June 12th. Arete Research upgraded shares of Comcast to a "hold" rating in a research note on Tuesday, July 8th. Finally, Benchmark reiterated a "buy" rating on shares of Comcast in a research note on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $40.73.

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.