Granite Group Advisors LLC Grows Stock Holdings in Comcast Corporation $CMCSA

Granite Group Advisors LLC lifted its holdings in Comcast Corporation (NASDAQ:CMCSA) by 10.6% during the second quarter, Holdings Channel reports. The fund owned 58,262 shares of the cable giant’s stock after buying an additional 5,585 shares during the quarter. Comcast makes up 1.3% of Granite Group Advisors LLC’s holdings, making the stock its 20th largest holding. Granite Group Advisors LLC’s holdings in Comcast were worth $2,079,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Inlight Wealth Management LLC acquired a new position in shares of Comcast in the 1st quarter valued at about $26,000. Cranbrook Wealth Management LLC grew its holdings in Comcast by 86.0% during the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after acquiring an additional 350 shares during the period. Global Trust Asset Management LLC raised its position in Comcast by 906.8% during the second 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. Abound Financial LLC acquired a new position in Comcast in the first quarter valued at approximately $29,000. Finally, Ransom Advisory Ltd acquired a new position in Comcast in the first quarter valued at approximately $29,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Up 2.0%

CMCSA stock opened at $29.99 on Wednesday. Comcast Corporation has a 52 week low of $29.39 and a 52 week high of $45.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The firm has a 50-day simple moving average of $32.37 and a 200-day simple moving average of $33.83. The stock has a market capitalization of $110.73 billion, a P/E ratio of 4.96, a P/E/G ratio of 1.74 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The company had revenue of $30.34 billion for the quarter. Equities analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.4%. Comcast’s payout ratio is currently 21.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a research note on Tuesday. Rosenblatt Securities raised their price target on shares of Comcast from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, August 4th. KeyCorp decreased their price objective on shares of Comcast from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, October 3rd. Citigroup restated a “buy” rating on shares of Comcast in a research report on Tuesday, August 26th. Finally, UBS Group set a $43.00 price target on Comcast in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $39.94.

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.