HighMark Wealth Management LLC Purchases 769 Shares of Comcast Corporation $CMCSA

HighMark Wealth Management LLC grew its position in Comcast Corporation (NASDAQ:CMCSA) by 79.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,732 shares of the cable giant’s stock after acquiring an additional 769 shares during the quarter. HighMark Wealth Management LLC’s holdings in Comcast were worth $62,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. DHJJ Financial Advisors Ltd. lifted its position in shares of Comcast by 71.1% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 1,165 shares of the cable giant’s stock worth $42,000 after acquiring an additional 484 shares during the period. Hudson Edge Investment Partners Inc. lifted its position in shares of Comcast by 6.5% during the 2nd quarter. Hudson Edge Investment Partners Inc. now owns 181,289 shares of the cable giant’s stock worth $6,470,000 after buying an additional 11,025 shares during the period. Synergy Asset Management LLC lifted its position in shares of Comcast by 7.5% during the 2nd quarter. Synergy Asset Management LLC now owns 167,598 shares of the cable giant’s stock worth $5,982,000 after buying an additional 11,738 shares during the period. Verus Financial Partners Inc. lifted its position in shares of Comcast by 15.4% during the 2nd quarter. Verus Financial Partners Inc. now owns 6,797 shares of the cable giant’s stock worth $242,000 after buying an additional 909 shares during the period. Finally, Mattern Capital Management LLC lifted its position in shares of Comcast by 3.6% during the 2nd quarter. Mattern Capital Management LLC now owns 221,484 shares of the cable giant’s stock worth $7,905,000 after buying an additional 7,609 shares during the period. Institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. The Goldman Sachs Group cut their target price on Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. Moffett Nathanson raised their target price on Comcast from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Royal Bank Of Canada assumed coverage on Comcast in a research report on Monday, September 8th. They set a “sector perform” rating and a $38.00 target price for the company. Arete Research upgraded Comcast to a “hold” rating in a research report on Tuesday, July 8th. Finally, Benchmark restated a “buy” rating on shares of Comcast in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.07.

Comcast Trading Down 1.7%

CMCSA stock opened at $30.40 on Friday. The business has a fifty day moving average price of $32.79 and a 200 day moving average price of $34.20. Comcast Corporation has a fifty-two week low of $30.38 and a fifty-two week high of $45.31. The stock has a market capitalization of $112.24 billion, a price-to-earnings ratio of 5.02, a P/E/G ratio of 1.81 and a beta of 0.94. 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) last released its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The firm had revenue of $30.31 billion during the quarter, compared to analysts’ expectations of $29.81 billion. During the same period last year, the firm posted $1.21 EPS. The business’s revenue was up 2.1% on a year-over-year basis. Analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The company 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 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend 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.