Horizon Wealth Management LLC Invests $209,000 in Comcast Co. (NASDAQ:CMCSA)

Horizon Wealth Management LLC acquired a new stake in Comcast Co. (NASDAQ:CMCSA) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,818 shares of the cable giant’s stock, valued at approximately $209,000.

Other large investors have also bought and sold shares of the company. Capital World Investors increased its position in shares of Comcast by 17.0% during the fourth quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock worth $4,725,926,000 after acquiring an additional 15,625,543 shares in the last quarter. Norges Bank acquired a new stake in shares of Comcast during the 4th quarter worth about $2,542,988,000. Harris Associates L P lifted its stake in shares of Comcast by 10.9% during the 4th quarter. Harris Associates L P now owns 18,873,787 shares of the cable giant’s stock worth $827,616,000 after buying an additional 1,854,671 shares during the last quarter. LSV Asset Management lifted its stake in shares of Comcast by 3.8% during the 4th quarter. LSV Asset Management now owns 15,688,650 shares of the cable giant’s stock worth $687,947,000 after buying an additional 570,050 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in shares of Comcast by 2.3% during the 4th quarter. Raymond James & Associates now owns 14,692,327 shares of the cable giant’s stock worth $644,258,000 after buying an additional 329,278 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Comcast

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CMCSA. Oppenheimer reaffirmed an “outperform” rating and set a $55.00 price target on shares of Comcast in a report on Wednesday, April 3rd. Scotiabank decreased their price target on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. BNP Paribas downgraded shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target on the stock. in a report on Tuesday, June 11th. Finally, Seaport Res Ptn downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Comcast has a consensus rating of “Hold” and a consensus price target of $48.62.

Comcast Price Performance

Shares of NASDAQ CMCSA traded down $0.72 during midday trading on Monday, reaching $38.44. 6,907,205 shares of the stock traded hands, compared to its average volume of 20,582,045. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market capitalization of $150.82 billion, a PE ratio of 10.35, a P/E/G ratio of 0.98 and a beta of 1.00. Comcast Co. has a one year low of $36.43 and a one year high of $47.46. The company’s 50 day moving average is $38.71 and its 200 day moving average is $41.37.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The firm had revenue of $30.06 billion during the quarter, compared to the consensus estimate of $29.83 billion. During the same period in the prior year, the company earned $0.92 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts anticipate that Comcast Co. will post 4.21 earnings per share for the current year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.24 annualized dividend and a yield of 3.23%. Comcast’s payout ratio is presently 32.80%.

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.