Cornerstone Wealth Management LLC Boosts Position in Comcast Co. (NASDAQ:CMCSA)

Cornerstone Wealth Management LLC boosted its position in shares of Comcast Co. (NASDAQ:CMCSA) by 5.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,299 shares of the cable giant’s stock after acquiring an additional 459 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Comcast were worth $347,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Capital Investment Advisors LLC grew its holdings in Comcast by 4.5% during 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 during the period. First Hawaiian Bank grew its holdings in Comcast by 8.9% during the second quarter. First Hawaiian Bank now owns 191,846 shares of the cable giant’s stock valued at $7,513,000 after purchasing an additional 15,664 shares during the period. BNP Paribas bought a new stake in Comcast during the first quarter valued at about $4,117,000. Douglas Lane & Associates LLC boosted its stake in shares of Comcast by 0.7% in the third quarter. Douglas Lane & Associates LLC now owns 2,210,469 shares of the cable giant’s stock worth $92,331,000 after acquiring an additional 15,807 shares during the period. Finally, American National Bank & Trust Co. VA bought a new position in shares of Comcast in the first quarter worth about $426,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Trading Down 0.7 %

Shares of CMCSA stock opened at $41.93 on Friday. 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. The stock’s 50 day simple moving average is $40.30 and its two-hundred day simple moving average is $39.47. The company has a market cap of $164.52 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data 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. 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 prior year, the business posted $1.13 earnings per share. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. Research analysts predict that Comcast Co. will post 4.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CMCSA. Deutsche Bank Aktiengesellschaft dropped their price objective on Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. StockNews.com lowered Comcast from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. Evercore ISI dropped their price objective on Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. The Goldman Sachs Group initiated coverage on Comcast in a research note on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price objective for the company. Finally, Pivotal Research decreased their target price on Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.