Granite Bay Wealth Management LLC Makes New Investment in Comcast Co. (NASDAQ:CMCSA)

Granite Bay Wealth Management LLC purchased a new stake in Comcast Co. (NASDAQ:CMCSA) in the 2nd quarter, Holdings Channel reports. The firm purchased 44,000 shares of the cable giant’s stock, valued at approximately $1,736,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors grew its holdings in shares of Comcast by 7.4% in the 1st quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock valued at $5,015,737,000 after buying an additional 7,929,963 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Comcast by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 38,329,384 shares of the cable giant’s stock valued at $1,500,722,000 after buying an additional 1,000,626 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Comcast by 41.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock worth $1,214,512,000 after purchasing an additional 8,243,302 shares during the period. Harris Associates L P increased its holdings in 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 purchasing an additional 1,854,671 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in Comcast by 3.4% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 11,304,304 shares of the cable giant’s stock worth $495,694,000 after purchasing an additional 368,685 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Trading Up 0.3 %

Shares of NASDAQ:CMCSA opened at $41.77 on Tuesday. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11. The company has a market capitalization of $163.89 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 1.08 and a beta of 1.01. The company has a 50-day simple moving average of $39.73 and a 200 day simple moving average of $39.56. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66.

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

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.31 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a yield of 2.97%. Comcast’s dividend payout ratio (DPR) is currently 32.80%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Seaport Res Ptn cut Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. Pivotal Research lowered their target price on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lowered their target price on Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Evercore ISI lowered their target price on Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Finally, Macquarie reiterated a “neutral” rating and set a $40.00 target price on shares of Comcast in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $45.58.

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.