Assetmark Inc. Grows Stake in Comcast Corporation $CMCSA

Assetmark Inc. lifted its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 8.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,436,650 shares of the cable giant’s stock after acquiring an additional 271,285 shares during the quarter. Assetmark Inc. owned approximately 0.09% of Comcast worth $107,980,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cape Investment Advisory Inc. increased its holdings in shares of Comcast by 2.6% in the second quarter. Cape Investment Advisory Inc. now owns 12,275 shares of the cable giant’s stock worth $438,000 after purchasing an additional 307 shares during the period. Coign Capital Advisors LLC boosted its holdings in Comcast by 2.1% during the 2nd quarter. Coign Capital Advisors LLC now owns 15,919 shares of the cable giant’s stock valued at $568,000 after acquiring an additional 324 shares during the period. OneAscent Family Office LLC grew its position in Comcast by 4.9% during the 2nd quarter. OneAscent Family Office LLC now owns 7,048 shares of the cable giant’s stock worth $252,000 after acquiring an additional 332 shares during the last quarter. Titleist Asset Management LLC grew its position in Comcast by 4.7% during the 2nd quarter. Titleist Asset Management LLC now owns 7,618 shares of the cable giant’s stock worth $272,000 after acquiring an additional 342 shares during the last quarter. Finally, Lakeshore Capital Group Inc. increased its stake in Comcast by 2.6% in the 3rd quarter. Lakeshore Capital Group Inc. now owns 13,636 shares of the cable giant’s stock worth $428,000 after purchasing an additional 343 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Trading Down 2.0%

Shares of NASDAQ:CMCSA opened at $31.82 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. The stock’s fifty day moving average price is $29.19 and its 200-day moving average price is $30.12. Comcast Corporation has a 1 year low of $25.75 and a 1 year high of $37.97. The company has a market cap of $115.95 billion, a P/E ratio of 5.93, a PEG ratio of 2.48 and a beta of 0.81.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The company had revenue of $32.31 billion for the quarter, compared to the consensus estimate of $32.35 billion. During the same quarter in the prior year, the firm earned $0.96 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. Sell-side analysts expect that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $1.32 annualized dividend and a yield of 4.1%. Comcast’s dividend payout ratio is currently 24.58%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CMCSA shares. Pivotal Research lowered Comcast from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Morgan Stanley lowered their price target on shares of Comcast from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, December 10th. Benchmark dropped their price target on shares of Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, January 5th. BNP Paribas Exane reissued a “neutral” rating on shares of Comcast in a report on Tuesday, January 27th. Finally, Williams Trading set a $40.00 price objective on shares of Comcast in a research note on Friday, October 31st. Ten analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $34.90.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.