Transcend Capital Advisors LLC lifted its holdings in Comcast Co. (NASDAQ:CMCSA – Free Report) by 70.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 81,037 shares of the cable giant’s stock after acquiring an additional 33,366 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Comcast were worth $3,367,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Whitener Capital Management Inc. boosted its stake in Comcast by 2.3% in the second quarter. Whitener Capital Management Inc. now owns 11,984 shares of the cable giant’s stock valued at $498,000 after acquiring an additional 273 shares during the last quarter. Keel Point LLC increased its position in Comcast by 25.4% in the second quarter. Keel Point LLC now owns 8,425 shares of the cable giant’s stock worth $350,000 after buying an additional 1,705 shares during the last quarter. Beacon Capital Management LLC raised its stake in shares of Comcast by 5.9% in the second quarter. Beacon Capital Management LLC now owns 4,776 shares of the cable giant’s stock valued at $198,000 after buying an additional 266 shares during the period. Darwin Wealth Management LLC grew its stake in shares of Comcast by 21.6% during the 2nd quarter. Darwin Wealth Management LLC now owns 44,006 shares of the cable giant’s stock worth $1,849,000 after acquiring an additional 7,824 shares during the period. Finally, Heron Bay Capital Management raised its stake in Comcast by 65.7% in the 2nd quarter. Heron Bay Capital Management now owns 222,974 shares of the cable giant’s stock valued at $9,265,000 after acquiring an additional 88,420 shares during the period. 82.85% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. Macquarie upgraded shares of Comcast from an “underperform” rating to a “neutral” rating and set a $46.00 target price for the company in a research note on Friday, July 28th. Barclays boosted their target price on shares of Comcast from $42.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, July 31st. Rosenblatt Securities lifted their price target on Comcast from $39.00 to $43.00 and gave the company a “neutral” rating in a research report on Monday, July 31st. Credit Suisse Group increased their price objective on Comcast from $50.00 to $54.00 in a report on Thursday, July 27th. Finally, KeyCorp lifted their target price on Comcast from $46.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $47.88.
Comcast Trading Up 0.2 %
CMCSA stock traded up $0.07 during trading on Tuesday, reaching $45.71. The company had a trading volume of 7,440,635 shares, compared to its average volume of 18,746,736. The business has a 50 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 current ratio of 0.76 and a quick ratio of 0.76. The company has a market cap of $188.56 billion, a P/E ratio of 28.89, a PEG ratio of 1.26 and a beta of 0.99. Comcast Co. has a 52 week low of $28.39 and a 52 week high of $47.46.
Comcast (NASDAQ:CMCSA – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The cable giant reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.15. Comcast had a return on equity of 19.79% and a net margin of 5.40%. The business had revenue of $30.51 billion during the quarter, compared to the consensus estimate of $30.11 billion. During the same quarter in the prior year, the company earned $1.01 earnings per share. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Comcast Co. will post 3.81 earnings per share for the current fiscal year.
Comcast Dividend Announcement
The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Tuesday, October 3rd. Comcast’s dividend payout ratio (DPR) is presently 73.42%.
Comcast Company 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.
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