Riverbend Wealth Management LLC Makes New Investment in Comcast Corporation $CMCSA

Riverbend Wealth Management LLC purchased a new stake in shares of Comcast Corporation (NASDAQ:CMCSA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,621 shares of the cable giant’s stock, valued at approximately $201,000.

Several other institutional investors have also modified their holdings of CMCSA. Sage Private Wealth Group LLC boosted its stake in Comcast by 26.5% during the second quarter. Sage Private Wealth Group LLC now owns 18,667 shares of the cable giant’s stock valued at $666,000 after buying an additional 3,907 shares in the last quarter. Harbor Asset Planning Inc. acquired a new stake in Comcast in the 2nd quarter valued at about $115,000. Werba Rubin Papier Wealth Management bought a new position in shares of Comcast during the 2nd quarter valued at about $250,000. WealthPlan Investment Management LLC grew its stake in shares of Comcast by 10.3% in the 2nd quarter. WealthPlan Investment Management LLC now owns 10,262 shares of the cable giant’s stock worth $366,000 after purchasing an additional 955 shares during the last quarter. Finally, Davidson Investment Advisors raised its holdings in shares of Comcast by 37.4% in the 2nd quarter. Davidson Investment Advisors now owns 457,691 shares of the cable giant’s stock worth $16,335,000 after purchasing an additional 124,484 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $29.26 on Friday. The company’s fifty day moving average is $32.27 and its two-hundred day moving average is $33.74. The company has a market cap of $108.03 billion, a P/E ratio of 4.84, a price-to-earnings-growth ratio of 1.76 and a beta of 0.94. Comcast Corporation has a 12-month low of $29.15 and a 12-month high of $45.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. The business had revenue of $30.34 billion for the quarter. Comcast had a return on equity of 18.86% and a net margin of 18.44%. Equities analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

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 $0.33 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.5%. Comcast’s dividend payout ratio is currently 21.82%.

Analyst Ratings Changes

CMCSA has been the subject of several recent research reports. Arete Research raised shares of Comcast to a “hold” rating in a research note on Tuesday, July 8th. Bank of America cut their price objective on Comcast from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, September 29th. Morgan Stanley set a $35.00 target price on Comcast and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a research report on Tuesday. Finally, Rothschild & Co Redburn reduced their target price on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Comcast has an average rating of “Hold” and an average target price of $39.94.

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.