Redwood Wealth Management Group LLC Invests $74,000 in Comcast Co. (NASDAQ:CMCSA)

Redwood Wealth Management Group LLC acquired a new stake in shares of Comcast Co. (NASDAQ:CMCSA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,882 shares of the cable giant’s stock, valued at approximately $74,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Steph & Co. increased its stake in shares of Comcast by 154.6% in the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after purchasing an additional 371 shares during the period. OLD Point Trust & Financial Services N A acquired a new position in shares of Comcast during the fourth quarter valued at $28,000. Pineridge Advisors LLC bought a new stake in shares of Comcast during the fourth quarter valued at about $32,000. Financial Synergies Wealth Advisors Inc. lifted its holdings in Comcast by 336.9% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock worth $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 valued at $30,000 after buying an additional 522 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on CMCSA shares. StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a research report on Friday. Pivotal Research cut their target price on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Seaport Res Ptn cut Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 24th. The Goldman Sachs Group assumed coverage on Comcast in a research note on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price objective on the stock. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 target price 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 and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $45.78.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $39.55 on Monday. The company’s fifty day moving average is $39.36 and its two-hundred day moving average is $39.72. The company has a market cap of $153.16 billion, a P/E ratio of 10.46, a price-to-earnings-growth ratio of 1.03 and a beta of 1.01. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.11. 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, 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 during the quarter, compared to the consensus estimate of $30.02 billion. During the same period in the prior year, the business earned $1.13 EPS. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities analysts expect that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid 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 dividend yield of 3.14%. Comcast’s dividend payout ratio (DPR) 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.