Assetmark Inc. Grows Position in Comcast Co. (NASDAQ:CMCSA)

Assetmark Inc. grew its stake in Comcast Co. (NASDAQ:CMCSA) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,501,326 shares of the cable giant’s stock after acquiring an additional 57,848 shares during the quarter. Assetmark Inc.’s holdings in Comcast were worth $104,480,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Fairscale Capital LLC purchased a new stake in Comcast in the 2nd quarter worth approximately $26,000. Strategic Financial Concepts LLC acquired a new stake in shares of Comcast during the second quarter worth $27,000. IAG Wealth Partners LLC grew its position in shares of Comcast by 204.7% in the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 522 shares during the period. McClarren Financial Advisors Inc. increased its stake in Comcast by 365.4% in the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 570 shares during the last quarter. Finally, Archer Investment Corp lifted its position in Comcast by 177.1% during the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after buying an additional 519 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Comcast in a research note on Wednesday. Barclays increased their price target on shares of Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, November 1st. TD Cowen cut their target price on Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Pivotal Research boosted their price target on Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.75.

Comcast Stock Performance

Shares of CMCSA stock opened at $43.91 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. The company’s fifty day moving average price is $41.18 and its two-hundred day moving average price is $39.71. The firm has a market capitalization of $170.04 billion, a P/E ratio of 11.80, a P/E/G ratio of 1.61 and a beta of 1.00. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The firm had revenue of $32.07 billion during the quarter, compared to the consensus estimate of $31.78 billion. During the same quarter in the prior year, the business posted $1.08 earnings per share. Comcast’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, research analysts anticipate that Comcast Co. will post 4.25 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a $0.31 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.82%. Comcast’s dividend payout ratio (DPR) is presently 33.33%.

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.