OMNI 360 Wealth Inc. Invests $335,000 in Comcast Corporation (NASDAQ:CMCSA)

OMNI 360 Wealth Inc. purchased a new position in Comcast Corporation (NASDAQ:CMCSA) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,090 shares of the cable giant’s stock, valued at approximately $335,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CMCSA. Norges Bank acquired a new position in shares of Comcast in the fourth quarter valued at approximately $3,835,226,000. Capital World Investors grew its holdings in shares of 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 in the last quarter. KBC Group NV grew its holdings in shares of Comcast by 724.7% in the first quarter. KBC Group NV now owns 10,160,649 shares of the cable giant’s stock valued at $374,927,000 after purchasing an additional 8,928,641 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of 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 in the last quarter. Finally, Dodge & Cox grew its holdings in shares of Comcast by 6.8% in the fourth quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant’s stock valued at $2,968,723,000 after purchasing an additional 5,039,823 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CMCSA has been the subject of several analyst reports. BNP Paribas Exane lowered their price target on shares of Comcast from $31.00 to $30.00 and set an “underperform” rating for the company in a report on Friday, April 25th. KeyCorp reduced their price objective on shares of Comcast from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Citigroup reduced their price objective on shares of Comcast from $44.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Rothschild & Co Redburn reduced their price objective on shares of Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Finally, Wells Fargo & Company downgraded shares of Comcast from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $37.00 to $31.00 in a research report on Monday, April 14th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $40.96.

Comcast Stock Up 0.7%

Shares of NASDAQ:CMCSA opened at $35.71 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.06. The company has a fifty day simple moving average of $34.85 and a 200 day simple moving average of $35.47. The firm has a market cap of $133.31 billion, a PE ratio of 8.78, a price-to-earnings-growth ratio of 1.74 and a beta of 0.95. Comcast Corporation has a 12-month low of $31.44 and a 12-month high of $45.31.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The business had revenue of $29.89 billion during the quarter, compared to analyst estimates of $29.82 billion. During the same quarter in the previous year, the firm earned $1.04 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. On average, equities research analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 annualized dividend and a yield of 3.70%. Comcast’s dividend payout ratio 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.