Apexium Financial LP Grows Stock Position in Comcast Corporation $CMCSA

Apexium Financial LP boosted its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 18.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,611 shares of the cable giant’s stock after purchasing an additional 2,752 shares during the period. Apexium Financial LP’s holdings in Comcast were worth $629,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CMCSA. Inlight Wealth Management LLC purchased a new position in Comcast during the 1st quarter valued at about $26,000. Cranbrook Wealth Management LLC increased its holdings in Comcast by 86.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 350 shares during the period. Global Trust Asset Management LLC increased its holdings in Comcast by 906.8% during the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 671 shares during the period. Abound Financial LLC purchased a new position in Comcast during the 1st quarter valued at about $29,000. Finally, Ransom Advisory Ltd purchased a new position in Comcast during the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CMCSA shares. The Goldman Sachs Group reduced their price target on Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. Benchmark reaffirmed a “buy” rating on shares of Comcast in a research report on Friday, July 18th. Sanford C. Bernstein cut their price objective on Comcast from $37.00 to $36.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 10th. Rothschild & Co Redburn cut their price objective on Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Finally, Morgan Stanley cut their price objective on Comcast from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.26.

Comcast Stock Performance

Shares of CMCSA opened at $30.90 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average price is $32.73 and its 200-day moving average price is $34.16. Comcast Corporation has a 52 week low of $30.38 and a 52 week high of $45.31. The stock has a market cap of $114.09 billion, a P/E ratio of 5.11, a P/E/G ratio of 1.78 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. During the same period in the previous year, the business earned $1.21 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Wednesday, October 1st. Comcast’s payout ratio is presently 21.82%.

About Comcast

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.