Sendero Wealth Management LLC Increases Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Sendero Wealth Management LLC lifted its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 28.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,455 shares of the cable giant’s stock after purchasing an additional 12,198 shares during the quarter. Sendero Wealth Management LLC’s holdings in Comcast were worth $2,009,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Benin Management CORP raised its position in Comcast by 4.3% during the 1st quarter. Benin Management CORP now owns 12,246 shares of the cable giant’s stock worth $452,000 after buying an additional 500 shares during the last quarter. Iams Wealth Management LLC boosted its holdings in shares of Comcast by 16.7% in the first quarter. Iams Wealth Management LLC now owns 55,465 shares of the cable giant’s stock valued at $2,047,000 after acquiring an additional 7,950 shares in the last quarter. Lakeshore Capital Group Inc. increased its stake in shares of Comcast by 3.3% during the first quarter. Lakeshore Capital Group Inc. now owns 10,112 shares of the cable giant’s stock worth $373,000 after acquiring an additional 319 shares during the period. Greenfield Savings Bank raised its holdings in Comcast by 2.7% during the first quarter. Greenfield Savings Bank now owns 43,621 shares of the cable giant’s stock worth $1,610,000 after purchasing an additional 1,141 shares in the last quarter. Finally, Contravisory Investment Management Inc. acquired a new stake in Comcast in the first quarter valued at about $184,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $31.00 price objective on the stock. in a report on Thursday, April 10th. Citigroup decreased their price target on Comcast from $44.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Barclays dropped their price objective on Comcast from $37.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. Rosenblatt Securities reissued a “neutral” rating and issued a $36.00 target price on shares of Comcast in a report on Monday, April 28th. Finally, Wells Fargo & Company lowered shares of Comcast from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $37.00 to $31.00 in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Comcast currently has a consensus rating of “Moderate Buy” and an average price target of $42.10.

Comcast Stock Performance

NASDAQ:CMCSA opened at $34.66 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $129.41 billion, a P/E ratio of 8.35, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The firm has a 50-day moving average price of $34.53 and a two-hundred day moving average price of $36.55. Comcast Co. has a twelve month low of $31.44 and a twelve month high of $45.31.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. The business had revenue of $29.89 billion for the quarter, compared to analyst estimates of $29.82 billion. During the same period in the prior year, the business earned $1.04 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. As a group, research analysts expect that Comcast Co. will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast’s dividend payout ratio (DPR) is presently 32.43%.

Comcast 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.