49 Wealth Management LLC Raises Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

by · The Markets Daily

49 Wealth Management LLC lifted its stake in Comcast Co. (NASDAQ:CMCSA – Free Report) by 39.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Fairscale Capital LLC bought a new position in shares of Comcast in the 2nd quarter worth approximately $26,000. McClarren Financial Advisors Inc. grew its position in shares of Comcast by 365.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 570 shares during the period. Iron Horse Wealth Management LLC increased its stake in shares of Comcast by 220.3% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock worth $32,000 after purchasing an additional 522 shares in the last quarter. IAG Wealth Partners LLC raised its holdings in Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after purchasing an additional 522 shares during the period. Finally, Archer Investment Corp lifted its position in Comcast by 177.1% during the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock valued at $32,000 after purchasing an additional 519 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Trading Up 1.2 %

Shares of CMCSA opened at $43.51 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $166.49 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.60 and a beta of 1.00. The company has a 50-day moving average of $41.90 and a 200 day moving average of $40.00. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11.

Comcast (NASDAQ:CMCSA – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.08 EPS. On average, research analysts expect that Comcast Co. will post 4.26 EPS for the current year.

Comcast Announces Dividend

The business also recently disclosed 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. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Wednesday, January 8th. Comcast’s dividend payout ratio (DPR) is currently 33.33%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CMCSA shares. TD Cowen dropped their price target on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Macquarie raised their price target on Comcast from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday. Deutsche Bank Aktiengesellschaft upped their price objective on Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Benchmark reissued a “buy” rating and set a $60.00 target price on shares of Comcast in a research note on Tuesday. Finally, Barclays increased their price objective on shares of Comcast from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. One 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.19.

View Our Latest Report on Comcast

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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