Sequoia Financial Advisors LLC Increases Stake in Comcast Corporation $CMCSA

Key Points

• Sequoia Financial Advisors LLC increased its stake in Comcast Corporation by 3.9%, now owning 443,407 shares valued at approximately $15.8 million.
• Several hedge funds have also recently modified their holdings in Comcast, with institutional investors owning 84.32% of the stock.
• Wall Street analysts have mixed ratings for Comcast, with an average target price of $39.94 and a consensus rating of "Hold."

Sequoia Financial Advisors LLC lifted its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 3.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 443,407 shares of the cable giant's stock after purchasing an additional 16,527 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Comcast were worth $15,825,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Inlight Wealth Management LLC purchased a new position in shares of Comcast in the 1st quarter valued at approximately $26,000. Global Trust Asset Management LLC raised its position in shares of Comcast by 906.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant's stock valued at $27,000 after purchasing an additional 671 shares during the last quarter. Cranbrook Wealth Management LLC raised its position in shares of Comcast by 86.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock valued at $27,000 after purchasing an additional 350 shares during the last quarter. Ransom Advisory Ltd purchased a new position in shares of Comcast in the 1st quarter valued at approximately $29,000. Finally, Abound Financial LLC purchased a new position in shares of Comcast in the 1st quarter valued at approximately $29,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group cut their price target on shares of Comcast from $40.00 to $39.00 and set a "buy" rating on the stock in a report on Wednesday, September 24th. Weiss Ratings reiterated a "hold (c)" rating on shares of Comcast in a report on Saturday, September 27th. KeyCorp cut their price target on shares of Comcast from $45.00 to $43.00 and set an "overweight" rating on the stock in a report on Friday, October 3rd. Arete Research upgraded shares of Comcast to a "hold" rating in a report on Tuesday, July 8th. Finally, Morgan Stanley set a $35.00 price target on shares of Comcast and gave the stock an "equal weight" rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, 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 $29.41 on Tuesday. The stock has a market capitalization of $108.59 billion, a price-to-earnings ratio of 4.86, a PEG ratio of 1.74 and a beta of 0.94. Comcast Corporation has a 12 month low of $29.39 and a 12 month high of $45.31. The firm's 50 day simple moving average is $32.42 and its 200-day simple moving average is $33.85. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 EPS for the quarter. The business had revenue of $30.34 billion for the quarter. Comcast had a net margin of 18.44% and a return on equity of 18.86%. Analysts expect that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.5%. 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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