Columbia Asset Management Buys 1,350 Shares of Comcast Corporation $CMCSA

Columbia Asset Management raised its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 10.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,289 shares of the cable giant’s stock after acquiring an additional 1,350 shares during the period. Columbia Asset Management’s holdings in Comcast were worth $510,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on CMCSA. Royal Bank Of Canada began coverage on Comcast in a research note on Monday, September 8th. They set a “sector perform” rating and a $38.00 target price on the stock. Moffett Nathanson lifted their target price on Comcast from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Bank of America lowered their target price on Comcast from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday. Rothschild & Co Redburn lowered their target price on Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Finally, Morgan Stanley lowered their target price on Comcast from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, August 4th. One research 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Comcast presently has an average rating of “Hold” and a consensus target price of $40.11.

Comcast Trading Down 0.2%

Shares of CMCSA opened at $31.42 on Wednesday. The business has a 50-day moving average of $32.98 and a 200 day moving average of $34.26. Comcast Corporation has a fifty-two week low of $31.03 and a fifty-two week high of $45.31. The firm has a market cap of $116.01 billion, a P/E ratio of 5.19, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93. 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 data on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The company had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. During the same quarter last year, the firm posted $1.21 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, research analysts forecast that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders 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 yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s 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.