Cornerstone Wealth Management LLC Buys 323 Shares of Comcast Corporation (NASDAQ:CMCSA)

Cornerstone Wealth Management LLC increased its stake in Comcast Corporation (NASDAQ:CMCSA) by 4.0% in the first quarter, Holdings Channel reports. The institutional investor owned 8,440 shares of the cable giant’s stock after acquiring an additional 323 shares during the period. Cornerstone Wealth Management LLC’s holdings in Comcast were worth $311,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Comcast during the fourth quarter worth $3,835,226,000. Raymond James Financial Inc. bought a new stake in shares of Comcast during the fourth quarter worth $743,681,000. Amundi lifted its position in shares of Comcast by 147.9% during the fourth quarter. Amundi now owns 24,086,671 shares of the cable giant’s stock worth $895,499,000 after purchasing an additional 14,369,056 shares during the last quarter. Capital World Investors lifted its position in shares of Comcast by 8.6% during the fourth quarter. Capital World Investors now owns 141,680,277 shares of the cable giant’s stock worth $5,317,167,000 after purchasing an additional 11,255,683 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Comcast by 12.0% during the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant’s stock worth $1,890,027,000 after purchasing an additional 5,402,377 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Price Performance

CMCSA opened at $34.53 on Friday. The business’s 50-day moving average is $34.50 and its two-hundred day moving average is $35.86. Comcast Corporation has a 1 year low of $31.44 and a 1 year high of $45.31. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $128.92 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 1.67 and a beta of 0.95.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.08. The business had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $29.82 billion. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the company earned $1.04 earnings per share. Research analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast’s dividend payout ratio is presently 32.43%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CMCSA. BNP Paribas downgraded Comcast from a “neutral” rating to an “underperform” rating and set a $31.00 target price for the company. in a research report on Thursday, April 10th. Scotiabank restated a “sector perform” rating and set a $44.50 price target (down previously from $45.00) on shares of Comcast in a research note on Friday, April 25th. UBS Group set a $44.50 price target on Comcast in a research note on Friday, April 25th. KeyCorp cut their price target on Comcast from $47.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $36.00 price target on shares of Comcast in a research note on Monday, April 28th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.10.

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.