Granite Group Advisors LLC Buys 5,585 Shares of Comcast Corporation $CMCSA

Granite Group Advisors LLC increased its position in Comcast Corporation (NASDAQ:CMCSA) by 10.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,262 shares of the cable giant’s stock after purchasing an additional 5,585 shares during the quarter. Comcast makes up about 1.3% of Granite Group Advisors LLC’s portfolio, making the stock its 20th biggest position. Granite Group Advisors LLC’s holdings in Comcast were worth $2,079,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CMCSA. Nuveen LLC bought a new position in Comcast during the 1st quarter worth about $940,015,000. Dodge & Cox raised its holdings in shares of Comcast by 19.1% in the 1st quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant’s stock valued at $3,476,635,000 after purchasing an additional 15,115,074 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Comcast by 1,959.3% in the 1st quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant’s stock worth $488,140,000 after purchasing an additional 12,586,329 shares during the period. KBC Group NV boosted its stake in shares of Comcast by 724.7% during the first quarter. KBC Group NV now owns 10,160,649 shares of the cable giant’s stock valued at $374,927,000 after purchasing an additional 8,928,641 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Comcast by 119.1% during the first quarter. Acadian Asset Management LLC now owns 7,595,322 shares of the cable giant’s stock valued at $280,238,000 after buying an additional 4,128,434 shares during the period. 84.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CMCSA has been the subject of a number of analyst reports. Bank of America lowered their target price on Comcast from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, September 29th. Barclays decreased their price objective on Comcast from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. The Goldman Sachs Group cut their target price on Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, September 24th. Loop Capital decreased their price target on shares of Comcast from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday, October 1st. Finally, Rosenblatt Securities raised their price target on shares of Comcast from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Comcast presently has an average rating of “Hold” and a consensus target price of $39.94.

Comcast Stock Performance

Shares of Comcast stock opened at $29.99 on Wednesday. The company has a 50 day moving average price of $32.37 and a 200 day moving average price of $33.83. The firm has a market capitalization of $110.73 billion, a P/E ratio of 4.96, a PEG ratio of 1.74 and a beta of 0.94. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a 52 week low of $29.39 and a 52 week high of $45.31.

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

Comcast Dividend Announcement

The company also recently announced 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 is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.4%. Comcast’s dividend payout ratio (DPR) is 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.