Riverbend Wealth Management LLC Buys Shares of 5,621 Comcast Corporation $CMCSA

Riverbend Wealth Management LLC purchased a new position in Comcast Corporation (NASDAQ:CMCSA) during the second quarter, Holdings Channel.com reports. The firm purchased 5,621 shares of the cable giant’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Foster Group Inc. raised its holdings in Comcast by 4.0% during the 2nd quarter. Foster Group Inc. now owns 7,418 shares of the cable giant’s stock worth $265,000 after purchasing an additional 282 shares during the last quarter. Argyle Capital Management LLC grew its position in shares of Comcast by 0.5% during the 2nd quarter. Argyle Capital Management LLC now owns 61,186 shares of the cable giant’s stock worth $2,184,000 after buying an additional 300 shares during the period. Clearstead Trust LLC raised its stake in shares of Comcast by 5.2% during the first quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant’s stock worth $227,000 after buying an additional 305 shares during the last quarter. Webster Bank N. A. raised its stake in shares of Comcast by 2.9% during the second quarter. Webster Bank N. A. now owns 10,809 shares of the cable giant’s stock worth $386,000 after buying an additional 305 shares during the last quarter. Finally, United Asset Strategies Inc. lifted its holdings in Comcast by 2.2% in the first quarter. United Asset Strategies Inc. now owns 14,075 shares of the cable giant’s stock valued at $519,000 after buying an additional 308 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Down 1.5%

Shares of Comcast stock opened at $29.26 on Friday. The company has a market capitalization of $108.03 billion, a P/E ratio of 4.84, a price-to-earnings-growth ratio of 1.76 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. The business has a 50-day moving average of $32.27 and a two-hundred day moving average of $33.74. Comcast Corporation has a 1 year low of $29.15 and a 1 year high of $45.31.

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

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Wednesday, October 1st. Comcast’s dividend payout ratio is 21.82%.

Analyst Upgrades and Downgrades

A number of analysts have commented on CMCSA shares. The Goldman Sachs Group lowered their target price on shares of Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. Rothschild & Co Redburn decreased their price objective on Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Loop Capital cut their target price on Comcast from $44.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, October 1st. Benchmark restated a “buy” rating on shares of Comcast in a report on Friday, July 18th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $39.94.

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.