Brighton Jones LLC lifted its holdings in Comcast Co. (NASDAQ:CMCSA) by 23.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 96,843 shares of the cable giant’s stock after purchasing an additional 18,430 shares during the period. Brighton Jones LLC’s holdings in Comcast were worth $5,522,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Wagner Wealth Management LLC purchased a new position in Comcast in the first quarter worth approximately $28,000. Newton One Investments LLC purchased a new position in Comcast in the second quarter worth approximately $28,000. Lumature Wealth Partners LLC purchased a new position in Comcast in the first quarter worth approximately $31,000. Baron Financial Group LLC lifted its stake in Comcast by 688.6% in the second quarter. Baron Financial Group LLC now owns 552 shares of the cable giant’s stock worth $31,000 after acquiring an additional 482 shares during the last quarter. Finally, Axiom Investment Management LLC purchased a new position in Comcast in the first quarter worth approximately $37,000. Hedge funds and other institutional investors own 82.49% of the company’s stock.
CMCSA has been the subject of several recent analyst reports. Wells Fargo & Company set a $57.55 price objective on shares of Comcast and gave the stock a “sell” rating in a research report on Monday, July 19th. Truist Securities upped their price target on shares of Comcast from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, July 30th. Truist upped their price target on shares of Comcast from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, July 30th. Pivotal Research upped their price target on shares of Comcast from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, July 30th. Finally, Morgan Stanley upped their price target on shares of Comcast from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, July 30th. One analyst has rated the stock with a sell rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Comcast currently has a consensus rating of “Buy” and an average price target of $64.93.
Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, July 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.17. The company had revenue of $28.55 billion for the quarter, compared to analyst estimates of $27.14 billion. Comcast had a net margin of 11.44% and a return on equity of 14.15%. As a group, research analysts forecast that Comcast Co. will post 3.14 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 27th. Stockholders of record on Wednesday, October 6th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.77%. Comcast’s payout ratio is currently 38.31%.
Comcast Corp. is a media, entertainment, and communications company, which engages in the provision of video, Internet, and phone services. It operates through the following segments: Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks and Sky. The Cable Communications segment provides video, Internet, voice, and security and automation services under the Xfinity brand.
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