Meridian Wealth Management LLC Acquires 9,211 Shares of Comcast Co. (NASDAQ:CMCSA)
Meridian Wealth Management LLC raised its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 310.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,178 shares of the cable giant’s stock after acquiring an additional 9,211 shares during the quarter. Meridian Wealth Management LLC’s holdings in Comcast were worth $515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the business. PDS Planning Inc purchased a new position in shares of Comcast during the 1st quarter valued at $226,000. JGP Wealth Management LLC grew its position in shares of Comcast by 1.6% during the 2nd quarter. JGP Wealth Management LLC now owns 98,942 shares of the cable giant’s stock valued at $4,183,000 after purchasing an additional 1,570 shares in the last quarter. Ellis Investment Partners LLC grew its position in shares of Comcast by 3,908.4% during the 1st quarter. Ellis Investment Partners LLC now owns 300,389 shares of the cable giant’s stock valued at $300,000 after purchasing an additional 292,895 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Comcast by 18.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 189,558 shares of the cable giant’s stock valued at $7,578,000 after purchasing an additional 29,804 shares in the last quarter. Finally, Exane Derivatives grew its position in shares of Comcast by 1,322.4% during the 1st quarter. Exane Derivatives now owns 6,799 shares of the cable giant’s stock valued at $272,000 after purchasing an additional 6,321 shares in the last quarter. 82.58% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently commented on the stock. Morgan Stanley set a $112.00 price target on shares of Tractor Supply and gave the company a “hold” rating in a research report on Friday. Guggenheim reiterated a “hold” rating on shares of Burlington Stores in a research report on Thursday, May 30th. Rosenblatt Securities initiated coverage on shares of Comcast in a research report on Friday, June 14th. They issued a “buy” rating and a $50.00 target price for the company. Barclays set a $46.00 target price on shares of D. R. Horton and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Goldman Sachs Group lowered shares of EXPERIAN PLC/ADR from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $45.06.
Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 25th. The cable giant reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.03. The business had revenue of $26.86 billion during the quarter, compared to the consensus estimate of $27.08 billion. Comcast had a net margin of 11.64% and a return on equity of 17.50%. The firm’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. Equities analysts forecast that Comcast Co. will post 3.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Tuesday, July 2nd. Comcast’s dividend payout ratio is presently 32.94%.
In other Comcast news, SVP Daniel C. Murdock sold 1,701 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $41.46, for a total value of $70,523.46. Following the completion of the sale, the senior vice president now directly owns 4,712 shares of the company’s stock, valued at $195,359.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.35% of the company’s stock.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.
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