AdvisorNet Financial Inc Boosts Position in Comcast Corporation $CMCSA

AdvisorNet Financial Inc lifted its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 10.6% in the second quarter, Holdings Channel.com reports. The fund owned 12,267 shares of the cable giant’s stock after purchasing an additional 1,172 shares during the period. AdvisorNet Financial Inc’s holdings in Comcast were worth $438,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Foster Group Inc. increased its position in shares of Comcast by 4.0% during the second quarter. Foster Group Inc. now owns 7,418 shares of the cable giant’s stock valued at $265,000 after buying an additional 282 shares during the period. Toth Financial Advisory Corp boosted its position in Comcast by 9.0% during the 1st quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant’s stock valued at $134,000 after acquiring an additional 300 shares in the last quarter. Clearstead Trust LLC boosted its position in Comcast by 5.2% during the 1st quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant’s stock valued at $227,000 after acquiring an additional 305 shares in the last quarter. Webster Bank N. A. grew its holdings in shares of Comcast by 2.9% during the 2nd quarter. Webster Bank N. A. now owns 10,809 shares of the cable giant’s stock worth $386,000 after acquiring an additional 305 shares during the period. Finally, United Asset Strategies Inc. raised its position in shares of Comcast by 2.2% in the 1st quarter. United Asset Strategies Inc. now owns 14,075 shares of the cable giant’s stock worth $519,000 after acquiring an additional 308 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several research reports. UBS Group dropped their price target on Comcast from $40.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, August 1st. The Goldman Sachs Group dropped their target price on shares of Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday. Royal Bank Of Canada started coverage on shares of Comcast in a research note on Monday, September 8th. They issued a “sector perform” rating and a $38.00 price target for the company. Rothschild & Co Redburn dropped their price objective on shares of Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Finally, Rosenblatt Securities upped 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 analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $40.19.

Comcast Stock Down 0.0%

Shares of Comcast stock opened at $31.61 on Thursday. The company has a 50-day simple moving average of $33.25 and a two-hundred day simple moving average of $34.38. The stock has a market capitalization of $116.71 billion, a PE ratio of 5.22, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93. Comcast Corporation has a 52-week low of $31.03 and a 52-week high of $45.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. The company had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 earnings per share. On average, analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s dividend payout ratio is presently 21.82%.

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.