Comcast Co. (NASDAQ:CMCSA) Shares Acquired by Altus Wealth Group LLC

Altus Wealth Group LLC lifted its position in Comcast Co. (NASDAQ:CMCSA) by 10.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,364 shares of the cable giant’s stock after acquiring an additional 2,100 shares during the quarter. Altus Wealth Group LLC’s holdings in Comcast were worth $837,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Steph & Co. grew its stake in Comcast by 154.6% during the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after buying an additional 371 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in shares of Comcast in the 4th quarter worth about $28,000. Pineridge Advisors LLC bought a new stake in Comcast in the 4th quarter valued at about $32,000. Financial Synergies Wealth Advisors Inc. boosted its stake in Comcast by 336.9% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock valued at $33,000 after purchasing an additional 593 shares during the period. Finally, IAG Wealth Partners LLC grew its position in Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after purchasing an additional 522 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Up 2.9 %

Shares of Comcast stock opened at $39.80 on Friday. The stock has a 50-day simple moving average of $39.23 and a 200-day simple moving average of $39.86. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11. The firm has a market cap of $156.16 billion, a price-to-earnings ratio of 10.53, a P/E/G ratio of 1.05 and a beta of 1.00. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The firm had revenue of $29.69 billion for the quarter, compared to the consensus estimate of $30.02 billion. During the same period in the prior year, the business posted $1.13 earnings per share. The business’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities research analysts expect that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Wednesday, October 2nd. Comcast’s dividend payout ratio is 32.80%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CMCSA. BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target on the stock. in a report on Tuesday, June 11th. Seaport Res Ptn downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 24th. Barclays decreased their price objective on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Pivotal Research dropped their target price on Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 price target on shares of Comcast in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.78.

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.