Comcast Corporation $CMCSA Shares Acquired by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC boosted its stake in Comcast Corporation (NASDAQ:CMCSA) by 4.6% in the second quarter, Holdings Channel.com reports. The firm owned 68,823 shares of the cable giant’s stock after acquiring an additional 3,051 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Comcast were worth $2,456,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Nuveen LLC acquired a new position in Comcast in the first quarter valued at $940,015,000. Dodge & Cox raised its holdings in shares of Comcast by 19.1% in the 1st quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant’s stock worth $3,476,635,000 after purchasing an additional 15,115,074 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Comcast by 1,959.3% in the 1st quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant’s stock worth $488,140,000 after purchasing an additional 12,586,329 shares during the period. KBC Group NV lifted its stake in shares of Comcast by 724.7% in the 1st quarter. KBC Group NV now owns 10,160,649 shares of the cable giant’s stock valued at $374,927,000 after purchasing an additional 8,928,641 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in Comcast by 119.1% during the 1st quarter. Acadian Asset Management LLC now owns 7,595,322 shares of the cable giant’s stock worth $280,238,000 after purchasing an additional 4,128,434 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of CMCSA stock opened at $31.61 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. The company’s fifty day moving average price is $33.25 and its two-hundred day moving average price is $34.38. The firm has a market capitalization of $116.71 billion, a P/E ratio of 5.22, a P/E/G ratio of 1.89 and a beta of 0.93. Comcast Corporation has a 12 month low of $31.03 and a 12 month high of $45.31.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The business had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. During the same period in the previous year, the company earned $1.21 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, research analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s dividend payout ratio is presently 21.82%.

Analyst Ratings Changes

Several equities research analysts have issued reports on CMCSA shares. Loop Capital decreased their price objective on shares of Comcast from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Monday. The Goldman Sachs Group reduced their target price on shares of Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday. Rothschild & Co Redburn lowered their price target on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Barclays cut their price objective on Comcast from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, August 1st. Finally, Citigroup reaffirmed a “buy” rating on shares of Comcast in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $40.19.

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.