Redwood Wealth Management Group LLC Takes Position in Comcast Co. (NASDAQ:CMCSA)

Redwood Wealth Management Group LLC acquired a new position in shares of Comcast Co. (NASDAQ:CMCSA) in the 2nd quarter, HoldingsChannel reports. The fund acquired 1,882 shares of the cable giant’s stock, valued at approximately $74,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Plato Investment Management Ltd lifted its holdings in shares of Comcast by 2.9% during the second quarter. Plato Investment Management Ltd now owns 118,279 shares of the cable giant’s stock worth $4,632,000 after buying an additional 3,359 shares during the last quarter. WINTON GROUP Ltd bought a new position in Comcast during the second quarter worth $1,899,000. Wilkins Investment Counsel Inc. raised its stake in Comcast by 1.5% during the 2nd quarter. Wilkins Investment Counsel Inc. now owns 49,330 shares of the cable giant’s stock valued at $1,932,000 after purchasing an additional 714 shares during the last quarter. Williams Financial LLC bought a new stake in Comcast in the 2nd quarter valued at $901,000. Finally, J.W. Cole Advisors Inc. grew its position in Comcast by 38.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 86,468 shares of the cable giant’s stock worth $3,386,000 after purchasing an additional 23,921 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of a number of research analyst reports. Barclays cut their price objective on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. The Goldman Sachs Group initiated coverage on Comcast in a research report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price objective for the company. Seaport Res Ptn lowered Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. KeyCorp cut their target price on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Finally, Macquarie reiterated a “neutral” rating and set a $40.00 price target on shares of Comcast in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $45.78.

Comcast Price Performance

NASDAQ:CMCSA opened at $39.55 on Monday. The firm has a market cap of $153.16 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 1.03 and a beta of 1.01. The company’s 50-day moving average price is $39.36 and its two-hundred day moving average price is $39.72. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, topping 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 EPS. Comcast’s revenue was down 2.7% compared to the same quarter last year. On average, equities analysts anticipate that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.14%. Comcast’s dividend payout ratio (DPR) 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.