Synergy Asset Management LLC Buys 11,738 Shares of Comcast Corporation $CMCSA

Synergy Asset Management LLC increased its stake in Comcast Corporation (NASDAQ:CMCSA) by 7.5% in the second quarter, HoldingsChannel reports. The fund owned 167,598 shares of the cable giant’s stock after purchasing an additional 11,738 shares during the period. Synergy Asset Management LLC’s holdings in Comcast were worth $5,982,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Nuveen LLC purchased a new stake in shares of Comcast during the first quarter worth about $940,015,000. Dodge & Cox boosted its holdings in shares of Comcast by 19.1% during the first 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. boosted its holdings in shares of Comcast by 1,959.3% during the first 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 boosted its holdings in shares of Comcast by 724.7% during the first quarter. KBC Group NV now owns 10,160,649 shares of the cable giant’s stock worth $374,927,000 after purchasing an additional 8,928,641 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of Comcast by 119.1% during the first 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 during the period. Institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CMCSA. Sanford C. Bernstein dropped their target price on shares of Comcast from $37.00 to $36.00 and set a “market perform” rating for the company in a report on Wednesday, September 10th. Citigroup reissued a “buy” rating on shares of Comcast in a research note on Tuesday, August 26th. Barclays decreased their price target on shares of Comcast from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. The Goldman Sachs Group decreased their price target on shares of Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. Finally, Loop Capital decreased their price target on shares of Comcast from $44.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Comcast has a consensus rating of “Hold” and a consensus target price of $40.07.

Comcast Price Performance

CMCSA stock opened at $30.40 on Friday. The firm has a 50 day moving average price of $32.79 and a 200-day moving average price of $34.20. Comcast Corporation has a 52-week low of $30.38 and a 52-week high of $45.31. The firm has a market capitalization of $112.24 billion, a price-to-earnings ratio of 5.02, a PEG ratio of 1.81 and a beta of 0.94. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91.

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

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Wednesday, October 1st. Comcast’s dividend payout ratio (DPR) 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.