Novem Group Acquires 7,108 Shares of Comcast Corporation (NASDAQ:CMCSA)

by · The Cerbat Gem

Novem Group boosted its holdings in Comcast Corporation (NASDAQ:CMCSA – Free Report) by 7.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,049 shares of the cable giant’s stock after purchasing an additional 7,108 shares during the period. Novem Group’s holdings in Comcast were worth $3,729,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Promus Capital LLC purchased a new stake in Comcast during the 4th quarter valued at about $25,000. Inlight Wealth Management LLC bought a new stake in Comcast in the first quarter valued at approximately $26,000. Retirement Wealth Solutions LLC lifted its position in Comcast by 126.9% in the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 448 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in shares of Comcast during the fourth quarter valued at approximately $33,000. Finally, Global Wealth Strategies & Associates grew its holdings in shares of Comcast by 203.4% in the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant’s stock worth $33,000 after purchasing an additional 600 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Performance

Shares of CMCSA stock opened at $35.83 on Thursday. The company’s fifty day moving average price is $34.72 and its 200-day moving average price is $35.56. The stock has a market cap of $133.78 billion, a PE ratio of 8.80, a price-to-earnings-growth ratio of 1.76 and a beta of 0.95. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.06. Comcast Corporation has a 12 month low of $31.44 and a 12 month high of $45.31.

Comcast (NASDAQ:CMCSA – Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. The business had revenue of $29.89 billion for the quarter, compared to analyst estimates of $29.82 billion. Comcast had a net margin of 12.72% and a return on equity of 19.70%. Comcast’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.04 earnings per share. On average, equities analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.68%. Comcast’s dividend payout ratio is currently 32.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CMCSA shares. Wells Fargo & Company lowered shares of Comcast from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $37.00 to $31.00 in a report on Monday, April 14th. Morgan Stanley set a $37.00 price objective on shares of Comcast in a research report on Friday, April 25th. Barclays dropped their target price on shares of Comcast from $37.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, April 28th. UBS Group set a $44.50 price target on Comcast in a report on Friday, April 25th. Finally, Oppenheimer dropped their price objective on Comcast from $55.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.80.

Read Our Latest Stock Analysis on CMCSA

Comcast Profile

(Free Report)

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.

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