Beacon Capital Management LLC Raises Position in Comcast Co. (NASDAQ:CMCSA)

Beacon Capital Management LLC boosted its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 5.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,776 shares of the cable giant’s stock after buying an additional 266 shares during the period. Beacon Capital Management LLC’s holdings in Comcast were worth $198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FMR LLC lifted its position in Comcast by 5.1% during the 1st quarter. FMR LLC now owns 117,764,529 shares of the cable giant’s stock worth $4,464,453,000 after acquiring an additional 5,767,151 shares during the period. Morgan Stanley raised its stake in shares of Comcast by 15.2% in the fourth quarter. Morgan Stanley now owns 53,653,778 shares of the cable giant’s stock worth $1,876,273,000 after purchasing an additional 7,084,451 shares during the last quarter. Norges Bank acquired a new stake in shares of Comcast during the fourth quarter worth about $1,798,173,000. Bank of New York Mellon Corp boosted its position in Comcast by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 42,448,741 shares of the cable giant’s stock valued at $1,245,022,000 after buying an additional 189,845 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Comcast by 1.1% in the 1st quarter. Clearbridge Investments LLC now owns 42,441,142 shares of the cable giant’s stock worth $1,987,094,000 after buying an additional 473,150 shares during the period. 82.85% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Trading Up 0.2 %

Shares of Comcast stock traded up $0.08 during trading hours on Tuesday, hitting $45.72. The company’s stock had a trading volume of 1,614,820 shares, compared to its average volume of 18,714,688. The firm has a fifty day moving average of $44.84 and a 200-day moving average of $41.06. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $188.60 billion, a price-to-earnings ratio of 28.89, a P/E/G ratio of 1.26 and a beta of 0.99. Comcast Co. has a twelve month low of $28.39 and a twelve month high of $47.46.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, July 27th. The cable giant reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.15. Comcast had a net margin of 5.40% and a return on equity of 19.79%. The business had revenue of $30.51 billion during the quarter, compared to analysts’ expectations of $30.11 billion. During the same period last year, the business earned $1.01 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Research analysts forecast that Comcast Co. will post 3.81 EPS for the current year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $1.16 annualized dividend and a dividend yield of 2.54%. Comcast’s dividend payout ratio is presently 73.42%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Credit Suisse Group lifted their price target on Comcast from $50.00 to $54.00 in a research report on Thursday, July 27th. Rosenblatt Securities upped their target price on Comcast from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Monday, July 31st. Bank of America lifted their price target on shares of Comcast from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, July 28th. KeyCorp upped their price objective on shares of Comcast from $46.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Finally, Wolfe Research raised shares of Comcast from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, August 2nd. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.88.

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, advertising sales, and Sky channels.