Comcast Corporation $CMCSA Shares Purchased by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC raised its holdings in Comcast Corporation (NASDAQ:CMCSA) by 203.1% in the second quarter, Holdings Channel.com reports. The fund owned 37,284 shares of the cable giant’s stock after acquiring an additional 24,983 shares during the period. GC Wealth Management RIA LLC’s holdings in Comcast were worth $1,331,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CMCSA. Advisor OS LLC lifted its stake in Comcast by 33.2% during the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock valued at $1,308,000 after purchasing an additional 8,841 shares during the last quarter. Resona Asset Management Co. Ltd. increased its holdings in shares of Comcast by 10.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant’s stock valued at $47,254,000 after buying an additional 118,839 shares in the last quarter. OMNI 360 Wealth Inc. acquired a new stake in shares of Comcast during the 1st quarter valued at $335,000. DAVENPORT & Co LLC boosted its stake in shares of Comcast by 41.7% during the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant’s stock worth $157,766,000 after acquiring an additional 1,261,278 shares in the last quarter. Finally, Kestra Investment Management LLC grew its holdings in shares of Comcast by 49.5% in the 1st quarter. Kestra Investment Management LLC now owns 71,331 shares of the cable giant’s stock worth $2,632,000 after acquiring an additional 23,607 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CMCSA. Royal Bank Of Canada initiated coverage on Comcast in a report on Monday, September 8th. They set a “sector perform” rating and a $38.00 target price for the company. Arete Research upgraded shares of Comcast to a “hold” rating in a report on Tuesday, July 8th. Moffett Nathanson lifted their target price on shares of Comcast from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Morgan Stanley reduced their price target on shares of Comcast from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, August 4th. Finally, UBS Group lowered their price objective on shares of Comcast from $40.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $40.11.

Comcast Trading Down 0.7%

Comcast stock opened at $31.49 on Tuesday. Comcast Corporation has a 12 month low of $31.03 and a 12 month high of $45.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The stock has a market cap of $116.27 billion, a P/E ratio of 5.20, a P/E/G ratio of 1.90 and a beta of 0.93. The company’s fifty day simple moving average is $33.06 and its 200-day simple moving average is $34.28.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) 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 quarter last year, the firm earned $1.21 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. Comcast’s payout ratio is presently 21.82%.

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, sky-branded entertainment television networks, and advertising.