Moran Wealth Management LLC Makes New Investment in Comcast Corporation $CMCSA

Moran Wealth Management LLC bought a new position in shares of Comcast Corporation (NASDAQ:CMCSA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 148,409 shares of the cable giant’s stock, valued at approximately $5,297,000.

Several other hedge funds have also recently modified their holdings of CMCSA. Nuveen LLC bought a new position in shares of Comcast during the 1st quarter worth approximately $940,015,000. Dodge & Cox lifted its position in shares of Comcast by 19.1% during the 1st quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant’s stock worth $3,476,635,000 after buying an additional 15,115,074 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Comcast by 1,959.3% during the 1st quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant’s stock worth $488,140,000 after purchasing an additional 12,586,329 shares during the last quarter. KBC Group NV increased its stake in shares of Comcast by 724.7% during the 1st quarter. KBC Group NV now owns 10,160,649 shares of the cable giant’s stock worth $374,927,000 after purchasing an additional 8,928,641 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Comcast by 119.1% during the 1st quarter. Acadian Asset Management LLC now owns 7,595,322 shares of the cable giant’s stock worth $280,238,000 after purchasing an additional 4,128,434 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group set a $43.00 price target on shares of Comcast in a research note on Friday, October 3rd. Moffett Nathanson raised their price target on shares of Comcast from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Morgan Stanley set a $35.00 price target on shares of Comcast and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, October 6th. Finally, Barclays reduced their price objective on shares of Comcast from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.94.

Comcast Stock Up 2.0%

CMCSA opened at $29.99 on Wednesday. The company has a fifty day moving average price of $32.37 and a 200-day moving average price of $33.83. The firm has a market capitalization of $110.73 billion, a P/E ratio of 4.96, 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 Corporation has a one year low of $29.39 and a one year high of $45.31.

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

Comcast Announces Dividend

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 given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Wednesday, October 1st. Comcast’s payout ratio is 21.82%.

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.