Matrix Asset Advisors Inc. NY Grows Holdings in Comcast Corporation $CMCSA

Matrix Asset Advisors Inc. NY grew its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 13.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 822,810 shares of the cable giant’s stock after buying an additional 94,769 shares during the quarter. Comcast comprises 3.0% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 10th biggest position. Matrix Asset Advisors Inc. NY’s holdings in Comcast were worth $29,366,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Inlight Wealth Management LLC acquired a new position in shares of Comcast in the 1st quarter worth approximately $26,000. Cranbrook Wealth Management LLC grew its stake in shares of Comcast by 86.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after purchasing an additional 350 shares during the last quarter. Global Trust Asset Management LLC grew its stake in shares of Comcast by 906.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after purchasing an additional 671 shares during the last quarter. Abound Financial LLC acquired a new position in shares of Comcast in the 1st quarter worth approximately $29,000. Finally, Ransom Advisory Ltd acquired a new position in shares of Comcast in the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Performance

CMCSA stock opened at $29.46 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $108.77 billion, a P/E ratio of 4.87, a P/E/G ratio of 1.74 and a beta of 0.94. The firm has a 50 day simple moving average of $32.48 and a 200 day simple moving average of $33.93. Comcast Corporation has a 52 week low of $29.42 and a 52 week high of $45.31.

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

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors 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 4.5%. The ex-dividend date is Wednesday, October 1st. Comcast’s dividend payout ratio (DPR) is currently 21.82%.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several recent research reports. Moffett Nathanson lifted their price objective on shares of Comcast from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. The Goldman Sachs Group dropped their target price on shares of Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Sanford C. Bernstein dropped their target price on shares of Comcast from $37.00 to $36.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 10th. Barclays dropped their target price on shares of 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, KeyCorp dropped their target price on shares of Comcast from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $39.94.

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.