Councilmark Asset Management LLC Makes New Investment in Comcast Co. (NASDAQ:CMCSA)

Councilmark Asset Management LLC bought a new stake in Comcast Co. (NASDAQ:CMCSA) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,325 shares of the cable giant’s stock, valued at approximately $1,185,000.

Several other institutional investors and hedge funds have also modified their holdings of CMCSA. Luken Investment Analytics LLC boosted its stake in Comcast by 258.0% in the first quarter. Luken Investment Analytics LLC now owns 580 shares of the cable giant’s stock valued at $25,000 after buying an additional 418 shares in the last quarter. Steph & Co. boosted its stake in shares of Comcast by 154.6% in the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after purchasing an additional 371 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new stake in shares of Comcast during the 4th quarter valued at approximately $28,000. Pineridge Advisors LLC bought a new stake in shares of Comcast during the 4th quarter valued at approximately $32,000. Finally, Financial Synergies Wealth Advisors Inc. increased its position in Comcast by 336.9% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock worth $33,000 after purchasing an additional 593 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on CMCSA. Macquarie lowered their target price on Comcast from $43.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, May 13th. BNP Paribas downgraded Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price objective for the company. in a research note on Tuesday, June 11th. Seaport Res Ptn downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 24th. StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 22nd. Finally, Scotiabank cut their price target on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Comcast has a consensus rating of “Hold” and a consensus price target of $48.53.

Comcast Stock Down 0.1 %

NASDAQ CMCSA traded down $0.06 during trading hours on Friday, hitting $40.08. The company’s stock had a trading volume of 19,305,172 shares, compared to its average volume of 19,952,288. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.13. The company’s 50-day simple moving average is $38.60 and its two-hundred day simple moving average is $40.80. The company has a market capitalization of $157.26 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 1.00 and a beta of 1.00. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.46.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.06. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The business had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. During the same period last year, the business earned $0.92 EPS. The business’s revenue was up 1.2% on a year-over-year basis. Research analysts anticipate that Comcast Co. will post 4.21 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 3rd will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Wednesday, July 3rd. Comcast’s payout ratio is 32.80%.

Insider Buying and Selling

In other news, major shareholder Corp Comcast sold 3,176,923 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the completion of the transaction, the insider now directly owns 2,000,000 shares of the company’s stock, valued at approximately $6,380,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.26% of the stock is owned by insiders.

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.