Confluence Wealth Services Inc. Acquires 523 Shares of Comcast Corporation $CMCSA

Confluence Wealth Services Inc. increased its holdings in Comcast Corporation (NASDAQ:CMCSA) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,315 shares of the cable giant’s stock after acquiring an additional 523 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Comcast were worth $1,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Comcast Stock Performance

Shares of CMCSA stock opened at $30.90 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The company has a 50 day moving average price of $32.73 and a 200-day moving average price of $34.13. Comcast Corporation has a 52 week low of $30.38 and a 52 week high of $45.31. The firm has a market capitalization of $114.09 billion, a PE ratio of 5.11, a P/E/G ratio of 1.81 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company had revenue of $30.31 billion for the quarter, compared to the consensus estimate of $29.81 billion. During the same quarter in the prior year, the firm earned $1.21 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts expect that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors 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 annualized dividend and a dividend yield of 4.3%. Comcast’s payout ratio is presently 21.82%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CMCSA. Morgan Stanley lowered their price target on Comcast from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, August 4th. Bank of America reduced their price objective on shares of Comcast from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, September 29th. Arete Research upgraded shares of Comcast to a “hold” rating in a research note on Tuesday, July 8th. Scotiabank raised their price target on shares of Comcast from $44.50 to $45.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Finally, Rosenblatt Securities boosted their price objective on shares of Comcast from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.26.

About Comcast

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.