Concord Asset Management LLC VA Increases Stake in Comcast Corporation $CMCSA

Concord Asset Management LLC VA raised its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 6.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,950 shares of the cable giant’s stock after buying an additional 4,511 shares during the quarter. Concord Asset Management LLC VA’s holdings in Comcast were worth $2,532,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CMCSA. Inlight Wealth Management LLC bought a new stake in Comcast in the 1st quarter worth approximately $26,000. Cranbrook Wealth Management LLC lifted its position in Comcast by 86.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after buying an additional 350 shares during the last quarter. Global Trust Asset Management LLC lifted its position in Comcast by 906.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after buying an additional 671 shares during the last quarter. Abound Financial LLC bought a new stake in Comcast in the first quarter valued at approximately $29,000. Finally, Ransom Advisory Ltd bought a new position in shares of Comcast in the first quarter worth approximately $29,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Trading Down 2.1%

Shares of NASDAQ:CMCSA opened at $29.46 on Monday. The company has a market cap of $108.77 billion, a P/E ratio of 4.87, a PEG ratio of 1.74 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. Comcast Corporation has a 1 year low of $29.42 and a 1 year high of $45.31. The stock’s fifty day moving average price is $32.48 and its 200-day moving average price is $33.90.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. The firm had revenue of $30.34 billion for the quarter. Comcast had a return on equity of 18.86% and a net margin of 18.44%. Sell-side analysts expect that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Rothschild & Co Redburn decreased their target price on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Bank of America cut their target price on Comcast from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. Moffett Nathanson increased their target price on Comcast from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. KeyCorp cut their target price on Comcast from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, October 3rd. Finally, Arete Research raised Comcast to a “hold” rating in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $39.94.

Comcast Company 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.