Chemistry Wealth Management LLC Increases Position in Comcast Co. (NASDAQ:CMCSA)

Chemistry Wealth Management LLC increased its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 81.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 19,186 shares of the cable giant’s stock after buying an additional 8,614 shares during the quarter. Chemistry Wealth Management LLC’s holdings in Comcast were worth $708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in CMCSA. Norges Bank purchased a new stake in Comcast in the fourth quarter valued at $3,835,226,000. Raymond James Financial Inc. purchased a new stake in Comcast in the fourth quarter valued at $743,681,000. Amundi boosted its holdings in Comcast by 147.9% in the fourth quarter. Amundi now owns 24,086,671 shares of the cable giant’s stock valued at $895,499,000 after purchasing an additional 14,369,056 shares during the last quarter. Capital World Investors boosted its holdings in Comcast by 8.6% in the fourth quarter. Capital World Investors now owns 141,680,277 shares of the cable giant’s stock valued at $5,317,167,000 after purchasing an additional 11,255,683 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Comcast by 12.0% in the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant’s stock valued at $1,890,027,000 after purchasing an additional 5,402,377 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CMCSA. UBS Group set a $44.50 price objective on shares of Comcast in a research report on Friday, April 25th. Barclays decreased their price objective on shares of Comcast from $37.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday, April 28th. Wall Street Zen upgraded shares of Comcast from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 27th. Scotiabank reiterated a “sector perform” rating and issued a $44.50 price objective (down previously from $45.00) on shares of Comcast in a research report on Friday, April 25th. Finally, Wells Fargo & Company downgraded shares of Comcast from an “equal weight” rating to an “underweight” rating and decreased their price objective 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 given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Comcast presently has an average rating of “Moderate Buy” and an average target price of $42.10.

Comcast Stock Up 1.4%

Shares of NASDAQ CMCSA opened at $34.70 on Friday. Comcast Co. has a 12-month low of $31.44 and a 12-month high of $45.31. The stock has a market cap of $129.56 billion, a PE ratio of 8.36, a P/E/G ratio of 1.78 and a beta of 0.95. 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 50-day moving average of $34.39 and a 200 day moving average of $36.43.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 earnings per share (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 company had revenue of $29.89 billion during the quarter, compared to analysts’ expectations of $29.82 billion. During the same quarter in the prior year, the company earned $1.04 EPS. Comcast’s revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts predict that Comcast Co. will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 annualized dividend and a yield of 3.80%. Comcast’s dividend payout ratio is presently 32.43%.

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.