TrueMark Investments LLC Takes $3.45 Million Position in Comcast Corporation $CMCSA

TrueMark Investments LLC purchased a new stake in Comcast Corporation (NASDAQ:CMCSA) in the 2nd quarter, Holdings Channel reports. The fund purchased 96,617 shares of the cable giant’s stock, valued at approximately $3,448,000.

Other hedge funds have also modified their holdings of the company. QRG Capital Management Inc. lifted its holdings in shares of Comcast by 13.0% in the 2nd quarter. QRG Capital Management Inc. now owns 724,760 shares of the cable giant’s stock valued at $25,867,000 after buying an additional 83,631 shares during the period. Advisor OS LLC raised its holdings in Comcast by 33.2% during the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock worth $1,308,000 after purchasing an additional 8,841 shares during the last quarter. Aberdeen Group plc raised its holdings in Comcast by 5.4% during the second quarter. Aberdeen Group plc now owns 2,889,947 shares of the cable giant’s stock worth $103,142,000 after purchasing an additional 147,231 shares during the last quarter. Resona Asset Management Co. Ltd. raised its holdings in Comcast by 10.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant’s stock worth $47,254,000 after purchasing an additional 118,839 shares during the last quarter. Finally, OMNI 360 Wealth Inc. acquired a new position in Comcast during the first quarter worth $335,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Loop Capital reduced their price objective on Comcast from $44.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, October 1st. Citigroup reaffirmed a “buy” rating on shares of Comcast in a report on Tuesday, August 26th. Moffett Nathanson lifted their price objective on Comcast from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, September 12th. UBS Group set a $43.00 price objective on Comcast in a report on Friday, October 3rd. Finally, Arete Research raised Comcast to a “hold” rating in a report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $39.76.

Comcast Stock Performance

NASDAQ CMCSA opened at $29.54 on Friday. Comcast Corporation has a fifty-two week low of $29.15 and a fifty-two week high of $45.31. The stock has a market cap of $109.07 billion, a price-to-earnings ratio of 4.88, a price-to-earnings-growth ratio of 1.75 and a beta of 0.94. The business has a fifty day moving average of $32.23 and a 200-day moving average of $33.68. 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 released its quarterly earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The company had revenue of $30.34 billion during the quarter. As a group, analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.5%. Comcast’s payout ratio is currently 21.82%.

Comcast 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.