Cornerstone Wealth Group LLC Increases Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Cornerstone Wealth Group LLC increased its holdings in Comcast Co. (NASDAQ:CMCSA) by 24.6% in the first quarter, Holdings Channel.com reports. The firm owned 10,849 shares of the cable giant’s stock after purchasing an additional 2,139 shares during the period. Cornerstone Wealth Group LLC’s holdings in Comcast were worth $470,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Schonfeld Strategic Advisors LLC increased its stake in Comcast by 538.9% during the third quarter. Schonfeld Strategic Advisors LLC now owns 173,791 shares of the cable giant’s stock worth $7,706,000 after acquiring an additional 146,588 shares during the last quarter. Waverly Advisors LLC increased its stake in Comcast by 4.3% during the third quarter. Waverly Advisors LLC now owns 14,845 shares of the cable giant’s stock worth $658,000 after acquiring an additional 616 shares during the last quarter. Gateway Advisory LLC increased its stake in Comcast by 4.8% during the third quarter. Gateway Advisory LLC now owns 9,893 shares of the cable giant’s stock worth $439,000 after acquiring an additional 452 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in Comcast during the third quarter worth about $6,216,000. Finally, AQR Capital Management LLC increased its stake in Comcast by 32.2% during the third quarter. AQR Capital Management LLC now owns 2,128,614 shares of the cable giant’s stock worth $94,383,000 after acquiring an additional 517,969 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Trading Up 2.3 %

NASDAQ:CMCSA opened at $39.16 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13. The business’s 50 day moving average is $38.71 and its two-hundred day moving average is $41.37. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.46. The company has a market cap of $153.65 billion, a PE ratio of 10.36, a P/E/G ratio of 0.98 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The company had revenue of $30.06 billion for the quarter, compared to the consensus estimate of $29.83 billion. During the same quarter last year, the business posted $0.92 EPS. Comcast’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, analysts predict that Comcast Co. will post 4.21 EPS for the current year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Wednesday, July 3rd. Comcast’s dividend payout ratio is presently 32.80%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CMCSA. StockNews.com lowered Comcast from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 22nd. The Goldman Sachs Group started coverage on Comcast in a research note on Tuesday, June 25th. They issued a “buy” rating and a $44.00 target price for the company. Evercore ISI reiterated an “outperform” rating and issued a $50.00 target price on shares of Comcast in a research note on Tuesday, March 26th. Oppenheimer reiterated an “outperform” rating and issued a $55.00 target price on shares of Comcast in a research note on Wednesday, April 3rd. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $48.62.

Insider Transactions at Comcast

In other news, major shareholder Corp Comcast sold 3,176,923 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the sale, the insider now directly owns 2,000,000 shares in the company, valued at approximately $6,380,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.26% of the company’s stock.

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.