Meridian Management Co. Takes Position in Comcast Co. (NASDAQ:CMCSA)
Meridian Management Co. acquired a new stake in Comcast Co. (NASDAQ:CMCSA) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,870 shares of the cable giant’s stock, valued at approximately $206,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Clean Yield Group bought a new position in shares of Comcast during the first quarter worth approximately $25,000. Evolution Wealth Advisors LLC bought a new position in shares of Comcast during the second quarter worth approximately $26,000. Mackey Komara & Dankovich LLC bought a new position in shares of Comcast during the first quarter worth approximately $27,000. Bray Capital Advisors bought a new position in shares of Comcast during the second quarter worth approximately $30,000. Finally, Litman Gregory Asset Management LLC bought a new position in shares of Comcast during the second quarter worth approximately $31,000. 82.85% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on CMCSA. Raymond James lowered Comcast from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $25.00 to $21.00 in a research note on Friday, June 14th. KeyCorp increased their target price on Comcast from $43.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Morgan Stanley raised their price objective on Comcast from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Rosenblatt Securities initiated coverage on Comcast in a research note on Friday, June 14th. They set a “buy” rating and a $50.00 price objective on the stock. Finally, Macquarie initiated coverage on Comcast in a research note on Wednesday, June 19th. They set a “buy” rating and a $50.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eighteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $45.44.
Comcast stock traded down $0.07 during mid-day trading on Wednesday, reaching $43.87. 757,179 shares of the company were exchanged, compared to its average volume of 17,544,886. The company has a fifty day simple moving average of $43.52 and a 200-day simple moving average of $41.49. Comcast Co. has a 12 month low of $32.61 and a 12 month high of $45.29. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market cap of $195.97 billion, a PE ratio of 17.20, a PEG ratio of 1.19 and a beta of 1.08.
Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, July 25th. The cable giant reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.03. The firm had revenue of $26.86 billion for the quarter, compared to analyst estimates of $27.08 billion. Comcast had a return on equity of 17.50% and a net margin of 11.64%. The company’s revenue was up 23.6% on a year-over-year basis. During the same quarter last year, the company earned $0.65 EPS. Sell-side analysts anticipate that Comcast Co. will post 3.07 earnings per share for the current year.
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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