Synergy Asset Management LLC Boosts Stock Position in Comcast Corporation $CMCSA

Synergy Asset Management LLC grew its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 7.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 167,598 shares of the cable giant's stock after acquiring an additional 11,738 shares during the period. Synergy Asset Management LLC's holdings in Comcast were worth $5,982,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Inlight Wealth Management LLC purchased a new position in shares of Comcast during the 1st quarter valued at $26,000. Global Trust Asset Management LLC grew its position in shares of Comcast by 906.8% during 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 in the last quarter. Cranbrook Wealth Management LLC grew its position in shares of Comcast by 86.0% during 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 in the last quarter. Ransom Advisory Ltd purchased a new position in shares of Comcast during the 1st quarter valued at $29,000. Finally, Abound Financial LLC purchased a new position in shares of Comcast during the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Stock Down 1.7%

Shares of NASDAQ:CMCSA opened at $30.40 on Friday. Comcast Corporation has a 52-week low of $30.38 and a 52-week high of $45.31. The firm has a fifty day moving average of $32.79 and a 200 day moving average of $34.20. The firm has a market capitalization of $112.24 billion, a PE ratio of 5.02, a price-to-earnings-growth ratio of 1.81 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.

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 (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.07. The business had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company's revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 earnings per share. As a group, research analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced 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 4.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's payout ratio is 21.82%.

Analyst Upgrades and Downgrades

CMCSA has been the subject of a number of recent analyst reports. Citigroup restated a "buy" rating on shares of Comcast in a research report on Tuesday, August 26th. Sanford C. Bernstein reduced their price target on shares of Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a research report on Wednesday, September 10th. Rothschild & Co Redburn cut their target price on shares of Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Moffett Nathanson upped their target price 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. Finally, Morgan Stanley cut their target price on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Comcast presently has an average rating of "Hold" and an average target price of $40.07.

About Comcast

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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