GPS Wealth Strategies Group LLC Increases Position in Comcast Co. (NASDAQ:CMCSA)

GPS Wealth Strategies Group LLC raised its position in shares of Comcast Co. (NASDAQ:CMCSA) by 14.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,777 shares of the cable giant’s stock after purchasing an additional 2,485 shares during the period. GPS Wealth Strategies Group LLC’s holdings in Comcast were worth $774,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CMCSA. Tennessee Valley Asset Management Partners purchased a new stake in Comcast during the 4th quarter valued at about $34,000. WCM Investment Management LLC purchased a new position in shares of Comcast in the fourth quarter valued at about $228,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Comcast by 2.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,879,580 shares of the cable giant’s stock valued at $477,070,000 after acquiring an additional 231,297 shares during the last quarter. River Street Advisors LLC raised its stake in shares of Comcast by 16.5% during the fourth quarter. River Street Advisors LLC now owns 13,847 shares of the cable giant’s stock valued at $607,000 after acquiring an additional 1,959 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Comcast by 2.2% during the fourth quarter. Vontobel Holding Ltd. now owns 2,903,990 shares of the cable giant’s stock worth $127,340,000 after purchasing an additional 61,307 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CMCSA shares. Evercore ISI cut their price target on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Seaport Res Ptn lowered shares of Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. Wells Fargo & Company decreased their target price on shares of Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Barclays dropped their price target on Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Finally, KeyCorp reduced their price objective on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $45.78.

Comcast Stock Performance

NASDAQ:CMCSA traded down $0.11 during mid-day trading on Wednesday, hitting $39.01. 17,941,610 shares of the company traded hands, compared to its average volume of 20,393,668. Comcast Co. has a one year low of $36.43 and a one year high of $47.46. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. The firm has a market cap of $153.06 billion, a price-to-earnings ratio of 10.35, a price-to-earnings-growth ratio of 1.07 and a beta of 1.00. The stock’s fifty day moving average price is $38.69 and its 200-day moving average price is $40.29.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The business had revenue of $29.69 billion for the quarter, compared to the consensus estimate of $30.02 billion. During the same period in the previous year, the business earned $1.13 earnings per share. The business’s revenue was down 2.7% on a year-over-year basis. Research analysts anticipate that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.31 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.18%. Comcast’s dividend payout ratio is currently 32.80%.

Insider Buying and Selling at Comcast

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of Comcast stock in a transaction 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 $6,380,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.26% of the stock is owned by company insiders.

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.