Means Investment CO. Inc. Grows Position in Comcast Corporation $CMCSA

Means Investment CO. Inc. raised its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,204 shares of the cable giant’s stock after buying an additional 713 shares during the period. Means Investment CO. Inc.’s holdings in Comcast were worth $436,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CMCSA. QRG Capital Management Inc. increased its stake in Comcast by 13.0% in the 2nd quarter. QRG Capital Management Inc. now owns 724,760 shares of the cable giant’s stock worth $25,867,000 after buying an additional 83,631 shares during the period. Advisor OS LLC grew its stake in Comcast by 33.2% in the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock worth $1,308,000 after acquiring an additional 8,841 shares in the last quarter. Resona Asset Management Co. Ltd. increased its position in shares of Comcast by 10.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant’s stock worth $47,254,000 after acquiring an additional 118,839 shares during the period. OMNI 360 Wealth Inc. bought a new stake in shares of Comcast during the first quarter valued at approximately $335,000. Finally, DAVENPORT & Co LLC boosted its holdings in shares of Comcast by 41.7% in the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant’s stock valued at $157,766,000 after purchasing an additional 1,261,278 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CMCSA has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their price target on Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Rosenblatt Securities lifted their price objective on shares of Comcast from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, August 4th. Citigroup restated a “buy” rating on shares of Comcast in a report on Tuesday, August 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Comcast in a research report on Saturday, September 27th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $39.94.

Comcast Stock Down 2.1%

Shares of CMCSA stock opened at $29.46 on Friday. The stock’s fifty day moving average price is $32.48 and its 200 day moving average price is $33.93. Comcast Corporation has a 1-year low of $29.42 and a 1-year high of $45.31. The company has a market cap of $108.77 billion, a price-to-earnings ratio of 4.87, a price-to-earnings-growth ratio of 1.74 and a beta of 0.94. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The business had revenue of $30.34 billion during the quarter. On average, research analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

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 given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s payout ratio is currently 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.