Ironwood Investment Counsel LLC Boosts Stake in Comcast Corporation $CMCSA

Ironwood Investment Counsel LLC increased its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 17.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,611 shares of the cable giant’s stock after buying an additional 23,143 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in Comcast were worth $5,589,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CMCSA. Foster Group Inc. lifted its position in Comcast by 4.0% during the 2nd quarter. Foster Group Inc. now owns 7,418 shares of the cable giant’s stock worth $265,000 after acquiring an additional 282 shares during the period. Argyle Capital Management LLC increased its holdings in shares of Comcast by 0.5% in the second quarter. Argyle Capital Management LLC now owns 61,186 shares of the cable giant’s stock valued at $2,184,000 after purchasing an additional 300 shares during the period. Clearstead Trust LLC raised its stake in shares of Comcast by 5.2% in the first quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant’s stock worth $227,000 after purchasing an additional 305 shares during the last quarter. Webster Bank N. A. lifted its holdings in shares of Comcast by 2.9% during the second quarter. Webster Bank N. A. now owns 10,809 shares of the cable giant’s stock worth $386,000 after purchasing an additional 305 shares during the period. Finally, United Asset Strategies Inc. lifted its holdings in shares of Comcast by 2.2% during the first quarter. United Asset Strategies Inc. now owns 14,075 shares of the cable giant’s stock worth $519,000 after purchasing an additional 308 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several research reports. TD Cowen cut their price target on shares of Comcast from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Loop Capital dropped their price objective on shares of Comcast from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 31st. UBS Group set a $34.00 price objective on shares of Comcast in a research note on Friday, October 31st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Comcast from $44.00 to $40.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Finally, Moffett Nathanson boosted their target price on shares of Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Ten equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $36.29.

Comcast Stock Performance

CMCSA opened at $27.45 on Wednesday. The firm has a fifty day moving average price of $30.49 and a 200 day moving average price of $33.00. Comcast Corporation has a 1 year low of $25.75 and a 1 year high of $44.20. The stock has a market cap of $100.02 billion, a P/E ratio of 4.57, a P/E/G ratio of 1.76 and a beta of 0.92. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Monday, March 13th. The cable giant reported $0.77 EPS for the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The company had revenue of $30.34 billion for the quarter. Equities research analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 14th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Wednesday, January 14th. Comcast’s payout ratio is currently 21.96%.

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.