Thrive Wealth Management LLC raised its position in shares of Comcast Co. (NASDAQ:CMCSA – Free Report) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,596 shares of the cable giant’s stock after buying an additional 246 shares during the quarter. Thrive Wealth Management LLC’s holdings in Comcast were worth $648,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CMCSA. Norges Bank bought a new position in shares of Comcast during the fourth quarter valued at $1,798,173,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Comcast by 121,265.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 25,530,426 shares of the cable giant’s stock valued at $892,799,000 after acquiring an additional 25,509,390 shares in the last quarter. Ontario Teachers Pension Plan Board increased its holdings in shares of Comcast by 71,575.9% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 12,705,989 shares of the cable giant’s stock valued at $444,328,000 after acquiring an additional 12,688,262 shares in the last quarter. Morgan Stanley increased its holdings in shares of Comcast by 15.2% during the fourth quarter. Morgan Stanley now owns 53,653,778 shares of the cable giant’s stock valued at $1,876,273,000 after acquiring an additional 7,084,451 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Comcast by 62.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 15,271,853 shares of the cable giant’s stock worth $715,028,000 after buying an additional 5,880,050 shares in the last quarter. Hedge funds and other institutional investors own 82.85% of the company’s stock.
Wall Street Analysts Forecast Growth
CMCSA has been the subject of several research analyst reports. KeyCorp lifted their price objective on Comcast from $46.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. Wells Fargo & Company lifted their price objective on Comcast from $46.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, July 28th. Argus boosted their price target on Comcast from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. StockNews.com initiated coverage on Comcast in a research note on Thursday, August 17th. They set a “strong-buy” rating for the company. Finally, Morgan Stanley boosted their price target on Comcast from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, July 24th. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Comcast currently has a consensus rating of “Moderate Buy” and an average target price of $47.88.
Comcast Trading Up 0.4 %
Comcast stock traded up $0.19 during mid-day trading on Monday, hitting $45.53. The company’s stock had a trading volume of 1,671,145 shares, compared to its average volume of 18,749,912. The company has a 50 day moving average of $44.84 and a 200-day moving average of $41.06. The stock has a market cap of $187.82 billion, a PE ratio of 28.70, a P/E/G ratio of 1.25 and a beta of 0.99. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.76 and a current ratio of 0.76. Comcast Co. has a one year low of $28.39 and a one year high of $47.46.
Comcast (NASDAQ:CMCSA – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The cable giant reported $1.13 EPS for the quarter, beating the consensus estimate of $0.98 by $0.15. The company had revenue of $30.51 billion for the quarter, compared to the consensus estimate of $30.11 billion. Comcast had a return on equity of 19.79% and a net margin of 5.40%. Comcast’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 EPS. On average, research analysts anticipate that Comcast Co. will post 3.81 EPS for the current year.
Comcast Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Tuesday, October 3rd. Comcast’s dividend payout ratio is 73.42%.
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, advertising sales, and Sky channels.
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