Verdence Capital Advisors LLC Has $2.39 Million Stock Position in Comcast Corporation $CMCSA

Verdence Capital Advisors LLC lifted its stake in Comcast Corporation (NASDAQ:CMCSA) by 23.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,962 shares of the cable giant’s stock after acquiring an additional 12,702 shares during the period. Verdence Capital Advisors LLC’s holdings in Comcast were worth $2,390,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Concord Asset Management LLC VA grew its stake in shares of Comcast by 6.8% in the second quarter. Concord Asset Management LLC VA now owns 70,950 shares of the cable giant’s stock worth $2,532,000 after acquiring an additional 4,511 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Comcast by 3.9% in the second quarter. Sequoia Financial Advisors LLC now owns 443,407 shares of the cable giant’s stock worth $15,825,000 after acquiring an additional 16,527 shares during the last quarter. Total Clarity Wealth Management Inc. grew its stake in shares of Comcast by 130.6% in the second quarter. Total Clarity Wealth Management Inc. now owns 17,432 shares of the cable giant’s stock worth $622,000 after acquiring an additional 9,872 shares during the last quarter. Vest Financial LLC grew its stake in shares of Comcast by 32.3% in the second quarter. Vest Financial LLC now owns 90,953 shares of the cable giant’s stock worth $3,246,000 after acquiring an additional 22,194 shares during the last quarter. Finally, MGO One Seven LLC grew its stake in shares of Comcast by 2.6% in the second quarter. MGO One Seven LLC now owns 111,890 shares of the cable giant’s stock worth $3,993,000 after acquiring an additional 2,839 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Down 2.1%

Shares of NASDAQ:CMCSA opened at $29.46 on Monday. Comcast Corporation has a 52 week low of $29.42 and a 52 week high of $45.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The company’s fifty day moving average is $32.48 and its 200-day moving average is $33.90. The company has a market capitalization of $108.77 billion, a PE ratio of 4.87, a P/E/G ratio of 1.74 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Monday, March 13th. The cable giant reported $0.77 EPS for the quarter. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company had revenue of $30.34 billion for the quarter. Equities research analysts predict 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, 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 dividend yield of 4.5%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s payout ratio is currently 21.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Benchmark reiterated a “buy” rating on shares of Comcast in a research note on Friday, July 18th. Arete Research upgraded shares of Comcast to a “hold” rating in a research note on Tuesday, July 8th. Loop Capital decreased their price target on shares of Comcast from $44.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Comcast from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Comcast in a research note on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $39.94.

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.