49 Wealth Management LLC Increases Stake in Comcast Co. (NASDAQ:CMCSA)

49 Wealth Management LLC boosted its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 39.4% during the 3rd quarter, Holdings Channel reports. The firm owned 7,620 shares of the cable giant’s stock after acquiring an additional 2,152 shares during the quarter. 49 Wealth Management LLC’s holdings in Comcast were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Eagle Asset Management Inc. raised its position in Comcast by 10.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 497,251 shares of the cable giant’s stock worth $21,834,000 after buying an additional 47,631 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Comcast by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,871,235 shares of the cable giant’s stock worth $1,331,192,000 after purchasing an additional 416,759 shares during the last quarter. Pacer Advisors Inc. lifted its position in Comcast by 2.6% during the third quarter. Pacer Advisors Inc. now owns 476,352 shares of the cable giant’s stock valued at $19,897,000 after purchasing an additional 12,009 shares during the period. Cornerstone Advisors LLC boosted its holdings in Comcast by 11.7% in the third quarter. Cornerstone Advisors LLC now owns 218,100 shares of the cable giant’s stock valued at $9,110,000 after purchasing an additional 22,800 shares during the last quarter. Finally, Citizens Financial Group Inc. RI grew its position in Comcast by 0.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 286,802 shares of the cable giant’s stock worth $11,980,000 after purchasing an additional 1,443 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Up 1.2 %

Shares of CMCSA opened at $43.51 on Friday. The stock has a fifty day simple moving average of $41.90 and a two-hundred day simple moving average of $40.00. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $166.49 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The company had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. During the same quarter in the previous year, the business earned $1.08 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities analysts forecast that Comcast Co. will post 4.26 EPS for the current year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 annualized dividend and a yield of 2.85%. Comcast’s payout ratio is 33.33%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CMCSA. TD Cowen lowered their target price on Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Wells Fargo & Company lifted their target price on shares of Comcast from $43.00 to $46.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Macquarie increased their price target on shares of Comcast from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Pivotal Research increased their target price on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.19.

Comcast 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.