Marks Group Wealth Management Inc Boosts Position in Comcast Corporation $CMCSA

Marks Group Wealth Management Inc increased its stake in Comcast Corporation (NASDAQ:CMCSA) by 131.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 67,462 shares of the cable giant’s stock after acquiring an additional 38,359 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Comcast were worth $2,016,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Comcast by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock worth $11,038,712,000 after buying an additional 2,160,829 shares during the period. State Street Corp increased its stake in Comcast by 4.6% in the 3rd quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock worth $5,677,190,000 after buying an additional 7,917,335 shares during the period. Capital World Investors increased its stake in Comcast by 20.8% in the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock worth $4,194,929,000 after buying an additional 24,166,881 shares during the period. Dodge & Cox increased its stake in Comcast by 1.2% in the 3rd quarter. Dodge & Cox now owns 112,567,918 shares of the cable giant’s stock worth $3,536,884,000 after buying an additional 1,295,598 shares during the period. Finally, Geode Capital Management LLC increased its stake in Comcast by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant’s stock worth $2,680,747,000 after buying an additional 1,465,428 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Up 0.4%

Shares of Comcast stock opened at $23.85 on Wednesday. The firm’s 50 day moving average price is $26.58 and its 200-day moving average price is $28.38. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. Comcast Corporation has a 52-week low of $23.13 and a 52-week high of $36.66. The company has a market cap of $85.20 billion, a P/E ratio of 4.69, a PEG ratio of 1.93 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The firm had revenue of $31.46 billion for the quarter, compared to the consensus estimate of $30.42 billion. During the same quarter in the previous year, the firm earned $1.09 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts predict that Comcast Corporation will post 3.53 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.5%. Comcast’s payout ratio is presently 25.98%.

Analyst Ratings Changes

A number of research firms recently weighed in on CMCSA. Scotiabank upped their price objective on shares of Comcast from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. The Goldman Sachs Group reissued a “neutral” rating and set a $29.00 target price on shares of Comcast in a research report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft cut shares of Comcast from a “buy” rating to a “hold” rating and set a $34.00 price target for the company. in a research report on Friday, April 24th. Rosenblatt Securities lowered their price target on shares of Comcast from $30.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, June 5th. Finally, Zacks Research raised shares of Comcast from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. Nine research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Comcast has an average rating of “Hold” and an average target price of $34.56.

Comcast Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.