Cardinal Point Capital Management ULC Boosts Stake in Comcast Corporation $CMCSA

Cardinal Point Capital Management ULC grew its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 2.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 209,915 shares of the cable giant’s stock after acquiring an additional 4,600 shares during the period. Cardinal Point Capital Management ULC’s holdings in Comcast were worth $7,492,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. QRG Capital Management Inc. boosted its position in shares of Comcast by 13.0% in the 2nd quarter. QRG Capital Management Inc. now owns 724,760 shares of the cable giant’s stock worth $25,867,000 after purchasing an additional 83,631 shares in the last quarter. Advisor OS LLC boosted its position in shares of Comcast by 33.2% in the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock worth $1,308,000 after purchasing an additional 8,841 shares in the last quarter. Aberdeen Group plc boosted its position in shares of Comcast by 5.4% in the 2nd quarter. Aberdeen Group plc now owns 2,889,947 shares of the cable giant’s stock worth $103,142,000 after purchasing an additional 147,231 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its position in shares of Comcast by 10.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant’s stock worth $47,254,000 after purchasing an additional 118,839 shares in the last quarter. Finally, Davidson Investment Advisors boosted its position in shares of Comcast by 37.4% in the 2nd quarter. Davidson Investment Advisors now owns 457,691 shares of the cable giant’s stock worth $16,335,000 after purchasing an additional 124,484 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CMCSA. Arete Research raised Comcast to a “hold” rating in a research report on Tuesday, July 8th. Barclays reduced their price objective on Comcast from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. Morgan Stanley set a $35.00 price objective on shares of Comcast and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Bank of America lowered their price target on shares of Comcast from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, September 29th. Finally, Benchmark reaffirmed a “buy” rating on shares of Comcast in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $39.76.

Comcast Stock Performance

Comcast stock opened at $29.30 on Friday. The company has a market capitalization of $108.18 billion, a PE ratio of 4.84, a P/E/G ratio of 1.74 and a beta of 0.94. The company has a 50 day moving average price of $32.01 and a 200-day moving average price of $33.55. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. Comcast Corporation has a fifty-two week low of $29.15 and a fifty-two week high of $45.31.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. The company had revenue of $30.34 billion for the quarter. Comcast had a net margin of 18.44% and a return on equity of 18.86%. As a group, equities analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

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.