Occidental Asset Management LLC Buys 5,939 Shares of Comcast Co. (NASDAQ:CMCSA)

Occidental Asset Management LLC boosted its position in shares of Comcast Co. (NASDAQ:CMCSA) by 10.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,938 shares of the cable giant’s stock after purchasing an additional 5,939 shares during the period. Occidental Asset Management LLC’s holdings in Comcast were worth $2,629,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Benson Investment Management Company Inc. acquired a new stake in shares of Comcast in the third quarter valued at approximately $5,234,000. Michael S. Ryan Inc. grew its position in Comcast by 5.5% in the third quarter. Michael S. Ryan Inc. now owns 7,261 shares of the cable giant’s stock valued at $303,000 after purchasing an additional 376 shares in the last quarter. Iams Wealth Management LLC increased its stake in Comcast by 1.8% in the 3rd quarter. Iams Wealth Management LLC now owns 44,822 shares of the cable giant’s stock valued at $1,872,000 after buying an additional 805 shares during the last quarter. Creative Planning lifted its position in Comcast by 2.7% during the 3rd quarter. Creative Planning now owns 959,549 shares of the cable giant’s stock worth $40,080,000 after buying an additional 24,968 shares in the last quarter. Finally, CX Institutional boosted its stake in shares of Comcast by 32.0% during the 3rd quarter. CX Institutional now owns 148,384 shares of the cable giant’s stock worth $6,198,000 after buying an additional 35,987 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CMCSA shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Rosenblatt Securities restated a “neutral” rating and set a $45.00 price objective on shares of Comcast in a research note on Wednesday, July 24th. The Goldman Sachs Group initiated coverage on shares of Comcast in a research note on Tuesday, June 25th. They issued a “buy” rating and a $44.00 target price for the company. Pivotal Research lowered their price target on Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Evercore ISI cut their price objective on Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Comcast presently has a consensus rating of “Hold” and an average price target of $45.55.

Comcast Stock Up 1.7 %

NASDAQ:CMCSA opened at $41.97 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. Comcast Co. has a one year low of $36.43 and a one year high of $47.11. The firm’s 50 day simple moving average is $40.05 and its 200 day simple moving average is $39.44. The company has a market cap of $164.67 billion, a PE ratio of 11.10, a P/E/G ratio of 1.10 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The company had revenue of $29.69 billion for the quarter, compared to analyst estimates of $30.02 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. On average, research analysts anticipate that Comcast Co. will post 4.23 earnings per share for the current year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Wednesday, October 2nd. Comcast’s dividend payout ratio (DPR) is currently 32.80%.

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.