Axxcess Wealth Management LLC Increases Stock Position in Comcast Co. (NASDAQ:CMCSA)

Axxcess Wealth Management LLC grew its stake in Comcast Co. (NASDAQ:CMCSA) by 5.5% during the second quarter, Holdings Channel.com reports. The fund owned 140,102 shares of the cable giant’s stock after acquiring an additional 7,322 shares during the period. Axxcess Wealth Management LLC’s holdings in Comcast were worth $5,486,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Brevan Howard Capital Management LP acquired a new position in Comcast in the 4th quarter valued at about $2,056,000. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Comcast by 3.4% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 11,304,304 shares of the cable giant’s stock valued at $495,694,000 after purchasing an additional 368,685 shares during the period. Capital Investment Advisors LLC grew its holdings in shares of Comcast by 4.5% in the second quarter. Capital Investment Advisors LLC now owns 36,027 shares of the cable giant’s stock valued at $1,411,000 after purchasing an additional 1,550 shares in the last quarter. First Hawaiian Bank increased its stake in Comcast by 8.9% during the 2nd quarter. First Hawaiian Bank now owns 191,846 shares of the cable giant’s stock worth $7,513,000 after buying an additional 15,664 shares during the period. Finally, Gilbert & Cook Inc. lifted its holdings in Comcast by 10.3% during the 4th quarter. Gilbert & Cook Inc. now owns 15,613 shares of the cable giant’s stock worth $685,000 after buying an additional 1,459 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CMCSA shares. Macquarie reaffirmed a “neutral” rating and set a $40.00 price objective on shares of Comcast in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft cut their price target on Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Barclays decreased their price objective on Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Rosenblatt Securities restated a “neutral” rating and set a $45.00 target price on shares of Comcast in a research note on Wednesday, July 24th. Finally, StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Comcast has an average rating of “Hold” and an average price target of $45.78.

Comcast Price Performance

Shares of CMCSA opened at $39.28 on Wednesday. The firm has a fifty day moving average price of $39.43 and a 200 day moving average price of $39.67. The stock has a market cap of $154.12 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 1.03 and a beta of 1.01. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66.

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

Comcast Dividend Announcement

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 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 3.16%. 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.