FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its position in Comcast Co. (NASDAQ:CMCSA) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,893 shares of the cable giant’s stock after purchasing an additional 1,955 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Comcast were worth $1,087,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Efficient Wealth Management LLC purchased a new stake in shares of Comcast in the first quarter valued at about $25,000. Asset Advisors Investment Management LLC purchased a new stake in Comcast during the 2nd quarter valued at approximately $32,000. Evolution Wealth Advisors LLC lifted its position in Comcast by 68.5% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 841 shares of the cable giant’s stock worth $33,000 after acquiring an additional 342 shares during the period. Financial Management Professionals Inc. purchased a new position in shares of Comcast in the 2nd quarter valued at approximately $33,000. Finally, Campbell Wealth Management acquired a new position in shares of Comcast in the second quarter valued at approximately $39,000. 83.16% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on CMCSA shares. Guggenheim cut shares of Comcast from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 19th. Nomura cut their target price on Comcast from $44.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. BidaskClub raised Comcast from a “hold” rating to a “buy” rating in a report on Tuesday, July 28th. TD Securities dropped their price objective on Comcast from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Finally, Citigroup raised their target price on Comcast from $40.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company. Comcast has a consensus rating of “Buy” and a consensus target price of $48.38.
Shares of CMCSA traded down $0.87 during trading hours on Friday, reaching $42.80. 23,913,538 shares of the company traded hands, compared to its average volume of 17,506,434. The stock has a market capitalization of $195.34 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.92 and a beta of 0.97. The stock has a fifty day simple moving average of $40.51 and a 200 day simple moving average of $40.20. Comcast Co. has a fifty-two week low of $31.70 and a fifty-two week high of $47.74. The company has a quick ratio of 0.87, a current ratio of 0.97 and a debt-to-equity ratio of 1.25.
Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, July 30th. The cable giant reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.14. The business had revenue of $23.72 billion for the quarter, compared to the consensus estimate of $23.56 billion. Comcast had a net margin of 10.91% and a return on equity of 16.66%. The company’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 earnings per share. Research analysts predict that Comcast Co. will post 2.39 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Tuesday, October 6th. Comcast’s payout ratio is 29.39%.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.
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