Morningstar Investment Management LLC Has $8.23 Million Position in Comcast Corporation $CMCSA

Morningstar Investment Management LLC increased its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 24.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 230,556 shares of the cable giant’s stock after purchasing an additional 45,926 shares during the period. Comcast makes up about 0.7% of Morningstar Investment Management LLC’s portfolio, making the stock its 23rd biggest holding. Morningstar Investment Management LLC’s holdings in Comcast were worth $8,229,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. RFG Advisory LLC lifted its holdings in Comcast by 0.8% during the 2nd quarter. RFG Advisory LLC now owns 64,998 shares of the cable giant’s stock worth $2,320,000 after purchasing an additional 510 shares during the last quarter. Axxcess Wealth Management LLC raised its holdings in Comcast by 6.7% in the 2nd quarter. Axxcess Wealth Management LLC now owns 118,579 shares of the cable giant’s stock valued at $4,232,000 after acquiring an additional 7,443 shares in the last quarter. Moran Wealth Management LLC acquired a new position in Comcast in the 2nd quarter valued at $5,297,000. NorthRock Partners LLC raised its holdings in Comcast by 22.7% in the 2nd quarter. NorthRock Partners LLC now owns 35,070 shares of the cable giant’s stock valued at $1,252,000 after acquiring an additional 6,493 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in Comcast by 23.4% in the 2nd quarter. Verdence Capital Advisors LLC now owns 66,962 shares of the cable giant’s stock valued at $2,390,000 after acquiring an additional 12,702 shares in the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CMCSA. Rosenblatt Securities lifted their price objective on Comcast from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, August 4th. Citigroup reaffirmed a “buy” rating on shares of Comcast in a report on Tuesday, August 26th. Moffett Nathanson lifted their price objective on Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday, September 12th. The Goldman Sachs Group dropped their price objective on Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. Finally, Benchmark reaffirmed a “buy” rating on shares of Comcast in a report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Comcast has a consensus rating of “Hold” and a consensus target price of $39.94.

Comcast Price Performance

Comcast stock opened at $29.41 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. Comcast Corporation has a 52 week low of $29.39 and a 52 week high of $45.31. The stock has a market capitalization of $108.59 billion, a P/E ratio of 4.86, a price-to-earnings-growth ratio of 1.74 and a beta of 0.94. The stock has a fifty day moving average of $32.42 and a 200-day moving average of $33.85.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Monday, March 13th. The cable giant reported $0.77 EPS for the quarter. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The company had revenue of $30.34 billion during the quarter. On average, sell-side analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.5%. Comcast’s payout ratio is currently 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.