Contravisory Investment Management Inc. Has $60,000 Stake in Comcast Corporation $CMCSA

Contravisory Investment Management Inc. lowered its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 66.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,675 shares of the cable giant’s stock after selling 3,310 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Comcast were worth $60,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Inlight Wealth Management LLC bought a new position in shares of Comcast during the 1st quarter worth approximately $26,000. Ransom Advisory Ltd bought a new position in shares of Comcast during the 1st quarter worth approximately $29,000. Abound Financial LLC bought a new position in shares of Comcast during the 1st quarter worth approximately $29,000. Retirement Wealth Solutions LLC lifted its position in shares of Comcast by 126.9% during the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant’s stock worth $30,000 after buying an additional 448 shares in the last quarter. Finally, Global Wealth Strategies & Associates lifted its position in shares of Comcast by 203.4% during the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant’s stock worth $33,000 after buying an additional 600 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CMCSA. Rosenblatt Securities lifted their target price on shares of Comcast from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, August 4th. Benchmark reaffirmed a “buy” rating on shares of Comcast in a report on Friday, July 18th. Sanford C. Bernstein lowered their price target on shares of Comcast from $37.00 to $36.00 and set a “market perform” rating on the stock in a report on Wednesday, September 10th. Barclays lowered their price target on shares of Comcast from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, August 1st. Finally, Arete Research raised shares of Comcast to a “hold” rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.56.

Comcast Stock Down 2.4%

Comcast stock opened at $31.64 on Friday. Comcast Corporation has a 1-year low of $31.03 and a 1-year high of $45.31. The firm has a market capitalization of $116.82 billion, a price-to-earnings ratio of 5.23, a P/E/G ratio of 1.94 and a beta of 0.93. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The firm has a 50 day simple moving average of $33.52 and a 200 day simple moving average of $34.50.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The business had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. Comcast’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.21 EPS. On average, analysts predict that Comcast Corporation will post 4.33 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 22nd. Stockholders of record on Wednesday, October 1st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. Comcast’s dividend payout ratio is presently 21.82%.

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.