Horizon Wealth Management LLC Makes New Investment in Comcast Co. (NASDAQ:CMCSA)

Horizon Wealth Management LLC acquired a new position in shares of Comcast Co. (NASDAQ:CMCSA) in the first quarter, Holdings Channel reports. The fund acquired 4,818 shares of the cable giant’s stock, valued at approximately $209,000.

A number of other hedge funds also recently added to or reduced their stakes in CMCSA. Norges Bank purchased a new position in Comcast in the 4th quarter valued at approximately $2,542,988,000. Capital World Investors grew its holdings in Comcast by 17.0% during the 4th quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock valued at $4,725,926,000 after buying an additional 15,625,543 shares during the last quarter. Morningstar Investment Services LLC boosted its holdings in shares of Comcast by 116.8% during the fourth quarter. Morningstar Investment Services LLC now owns 5,145,838 shares of the cable giant’s stock worth $227,034,000 after purchasing an additional 2,772,190 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Comcast by 215.7% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,622,246 shares of the cable giant’s stock worth $158,835,000 after purchasing an additional 2,474,946 shares during the last quarter. Finally, Pathstone Holdings LLC acquired a new stake in shares of Comcast during the fourth quarter worth $108,332,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the sale, the insider now directly owns 2,000,000 shares of the company’s stock, valued at approximately $6,380,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.26% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on CMCSA. Evercore ISI reiterated an “outperform” rating and issued a $50.00 target price on shares of Comcast in a report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft reduced their target price on Comcast from $55.00 to $53.00 in a report on Friday, April 5th. The Goldman Sachs Group began coverage on Comcast in a report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 target price on the stock. BNP Paribas cut Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 target price on the stock. in a report on Tuesday, June 11th. Finally, Benchmark reiterated a “buy” rating and issued a $55.00 target price on shares of Comcast in a report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $48.62.

Comcast Stock Performance

Shares of NASDAQ:CMCSA traded down $0.72 during midday trading on Monday, hitting $38.44. The company’s stock had a trading volume of 6,907,205 shares, compared to its average volume of 20,582,045. The stock has a market capitalization of $150.82 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 0.98 and a beta of 1.00. The stock’s 50 day simple moving average is $38.71 and its 200 day simple moving average is $41.37. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.46. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The business had revenue of $30.06 billion during the quarter, compared to analysts’ expectations of $29.83 billion. During the same quarter last year, the company earned $0.92 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, research analysts anticipate that Comcast Co. will post 4.21 earnings per share for the current year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Wednesday, July 3rd. Comcast’s dividend payout ratio 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.