TrueMark Investments LLC Purchases Shares of 96,617 Comcast Corporation $CMCSA

Key Points

• TrueMark Investments LLC acquired a new stake in Comcast Corporation, purchasing 96,617 shares valued at approximately $3.45 million in the second quarter.
• Multiple hedge funds increased their positions in Comcast, with notable gains including a 906.8% increase by Global Trust Asset Management LLC in Q2.
• Comcast announced a quarterly dividend of $0.33 per share, yielding around 4.5%, with the payment date set for October 22nd.

TrueMark Investments LLC purchased a new stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 96,617 shares of the cable giant's stock, valued at approximately $3,448,000.

Other hedge funds have also made changes to their positions in the company. Inlight Wealth Management LLC purchased a new position in shares of Comcast in the 1st quarter valued at about $26,000. Global Trust Asset Management LLC increased its holdings 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 acquiring an additional 671 shares during the last quarter. Cranbrook Wealth Management LLC increased its holdings 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 acquiring 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 about $29,000. Finally, Abound Financial LLC purchased a new position in shares of Comcast in the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 84.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. The Goldman Sachs Group dropped their price objective on Comcast from $40.00 to $39.00 and set a "buy" rating on the stock in a report on Wednesday, September 24th. Loop Capital dropped their price target on Comcast from $44.00 to $43.00 and set a "buy" rating on the stock in a research note on Wednesday, October 1st. Benchmark restated a "buy" rating on shares of Comcast in a research note on Friday, July 18th. KeyCorp dropped their price target on Comcast from $45.00 to $43.00 and set an "overweight" rating on the stock in a research note on Friday, October 3rd. Finally, Barclays dropped their price target on Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Comcast presently has a consensus rating of "Hold" and a consensus target price of $39.76.

Comcast Trading Up 1.0%

Shares of CMCSA stock opened at $29.54 on Friday. The business's 50 day moving average is $32.23 and its two-hundred day moving average is $33.68. Comcast Corporation has a twelve month low of $29.15 and a twelve month high of $45.31. The company has a market capitalization of $109.07 billion, a P/E ratio of 4.88, a price-to-earnings-growth ratio of 1.75 and a beta of 0.94. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99.

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

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is 21.82%.

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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