Axxcess Wealth Management LLC Increases Stake in Comcast Co. (NASDAQ:CMCSA)

Axxcess Wealth Management LLC raised its stake in Comcast Co. (NASDAQ:CMCSA) by 5.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 140,102 shares of the cable giant’s stock after acquiring an additional 7,322 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Comcast were worth $5,486,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Capital World Investors increased its stake in shares of Comcast by 7.4% in the 1st quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock valued at $5,015,737,000 after purchasing an additional 7,929,963 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Comcast by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 38,329,384 shares of the cable giant’s stock valued at $1,500,722,000 after purchasing an additional 1,000,626 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Comcast by 41.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock valued at $1,214,512,000 after buying an additional 8,243,302 shares in the last quarter. Harris Associates L P raised its stake in shares of Comcast by 10.9% during the 4th quarter. Harris Associates L P now owns 18,873,787 shares of the cable giant’s stock worth $827,616,000 after buying an additional 1,854,671 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of Comcast by 3.4% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 11,304,304 shares of the cable giant’s stock valued at $495,694,000 after buying an additional 368,685 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Down 0.2 %

Shares of NASDAQ:CMCSA opened at $39.28 on Wednesday. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11. The stock has a market cap of $154.12 billion, a P/E ratio of 10.39, a PEG ratio of 1.03 and a beta of 1.01. The business has a fifty day moving average of $39.43 and a two-hundred day moving average of $39.67. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $30.02 billion. During the same quarter in the prior year, the firm posted $1.13 earnings per share. Comcast’s quarterly revenue was down 2.7% on a year-over-year basis. On average, research analysts expect that Comcast Co. will post 4.23 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Wednesday, October 2nd. Comcast’s payout ratio is presently 32.80%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 13th. The Goldman Sachs Group started coverage on shares of Comcast in a research note on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price target on the stock. Evercore ISI cut their price objective on Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, Pivotal Research decreased their target price on Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Comcast has a consensus rating of “Hold” and a consensus price target 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.