Prosperity Consulting Group LLC Raises Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Prosperity Consulting Group LLC raised its position in Comcast Co. (NASDAQ:CMCSA) by 8.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,251 shares of the cable giant’s stock after buying an additional 1,170 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Comcast were worth $597,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. increased its holdings in shares of Comcast by 10.3% in the fourth quarter. Gilbert & Cook Inc. now owns 15,613 shares of the cable giant’s stock valued at $685,000 after purchasing an additional 1,459 shares during the period. Gryphon Financial Partners LLC increased its holdings in shares of Comcast by 71.7% in the fourth quarter. Gryphon Financial Partners LLC now owns 50,539 shares of the cable giant’s stock valued at $2,451,000 after purchasing an additional 21,112 shares during the period. Jump Financial LLC acquired a new position in Comcast during the fourth quarter worth $800,000. Meridian Wealth Management LLC grew its holdings in Comcast by 4.3% during the fourth quarter. Meridian Wealth Management LLC now owns 13,317 shares of the cable giant’s stock worth $584,000 after acquiring an additional 547 shares during the period. Finally, Navellier & Associates Inc. acquired a new position in Comcast during the fourth quarter worth $203,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CMCSA shares. The Goldman Sachs Group started coverage on Comcast in a report on Tuesday, June 25th. They set a “buy” rating and a $44.00 price objective on the stock. Macquarie reaffirmed a “neutral” rating and set a $40.00 price objective on shares of Comcast in a report on Wednesday, July 24th. KeyCorp dropped their price objective on Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Comcast in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $45.78.

Comcast Stock Performance

NASDAQ CMCSA opened at $39.55 on Friday. The business’s 50-day moving average price is $39.36 and its 200 day moving average price is $39.74. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.11. The company has a market capitalization of $153.16 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 1.03 and a beta of 1.01. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16.

Comcast (NASDAQ:CMCSA) last released its earnings results 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 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 firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, research analysts predict that Comcast Co. will post 4.23 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a yield of 3.14%. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

Comcast Company 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.