Valmark Advisers Inc. Purchases 2,330 Shares of Comcast Co. (NASDAQ:CMCSA)

Valmark Advisers Inc. boosted its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 19.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,584 shares of the cable giant’s stock after buying an additional 2,330 shares during the period. Valmark Advisers Inc.’s holdings in Comcast were worth $571,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bollard Group LLC lifted its position in shares of Comcast by 0.7% during the 4th quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock valued at $1,622,000 after buying an additional 244 shares in the last quarter. Tortoise Investment Management LLC lifted its holdings in Comcast by 4.5% during the fourth quarter. Tortoise Investment Management LLC now owns 5,801 shares of the cable giant’s stock valued at $254,000 after purchasing an additional 249 shares in the last quarter. Laraway Financial Advisors Inc boosted its position in shares of Comcast by 1.9% in the fourth quarter. Laraway Financial Advisors Inc now owns 13,150 shares of the cable giant’s stock worth $577,000 after purchasing an additional 250 shares during the period. Verum Partners LLC increased its stake in shares of Comcast by 4.9% in the second quarter. Verum Partners LLC now owns 5,663 shares of the cable giant’s stock worth $222,000 after purchasing an additional 267 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC raised its position in shares of Comcast by 3.1% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 8,815 shares of the cable giant’s stock valued at $387,000 after purchasing an additional 268 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of several recent analyst reports. Evercore ISI dropped their target price on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Pivotal Research dropped their price objective on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Rosenblatt Securities reissued a “neutral” rating and set a $45.00 target price on shares of Comcast in a research note on Wednesday, July 24th. Seaport Res Ptn cut Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. Finally, KeyCorp cut their price objective on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Comcast currently has an average rating of “Hold” and a consensus target price of $45.78.

Comcast Stock Performance

Shares of NASDAQ:CMCSA opened at $39.57 on Tuesday. The firm has a fifty day simple moving average of $39.17 and a two-hundred day simple moving average of $39.88. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $155.26 billion, a P/E ratio of 10.47, a PEG ratio of 1.05 and a beta of 1.00. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.30.

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

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.13%. The ex-dividend date is Wednesday, October 2nd. Comcast’s payout ratio is 32.80%.

About Comcast

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.