Brookstone Capital Management Grows Stock Position in Comcast Corporation $CMCSA

Brookstone Capital Management grew its stake in Comcast Corporation (NASDAQ:CMCSA) by 203.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 155,301 shares of the cable giant’s stock after purchasing an additional 104,047 shares during the period. Brookstone Capital Management’s holdings in Comcast were worth $3,813,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Cardinal Point Capital Management ULC grew its holdings in Comcast by 2.9% during the second quarter. Cardinal Point Capital Management ULC now owns 183,145 shares of the cable giant’s stock worth $4,496,000 after acquiring an additional 5,240 shares during the period. Accurate Wealth Management LLC lifted its holdings in Comcast by 14.6% in the second quarter. Accurate Wealth Management LLC now owns 20,790 shares of the cable giant’s stock valued at $490,000 after acquiring an additional 2,651 shares during the period. Portside Wealth Group LLC boosted its position in Comcast by 45.2% in the 2nd quarter. Portside Wealth Group LLC now owns 60,765 shares of the cable giant’s stock worth $1,492,000 after purchasing an additional 18,922 shares in the last quarter. Encompass More Asset Management purchased a new stake in Comcast in the 2nd quarter worth approximately $797,000. Finally, Thompson Investment Management Inc. acquired a new stake in shares of Comcast during the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CMCSA. Moffett Nathanson cut their target price on shares of Comcast from $53.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, June 16th. Royal Bank Of Canada set a $26.00 price target on shares of Comcast and gave the stock a “sector perform” rating in a report on Friday, July 24th. The Goldman Sachs Group dropped their price target on shares of Comcast from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, July 2nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Comcast in a report on Friday, July 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Comcast from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $34.00 to $32.00 in a research report on Tuesday, June 30th. Eleven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $32.96.

Comcast Stock Up 2.8%

Comcast stock opened at $26.18 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $92.90 billion, a PE ratio of 8.47, a price-to-earnings-growth ratio of 1.45 and a beta of 0.67. The business has a 50 day simple moving average of $23.80 and a 200-day simple moving average of $26.90. Comcast Corporation has a 12 month low of $21.28 and a 12 month high of $34.45.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The firm had revenue of $29.94 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same quarter last year, the firm posted $1.25 EPS. The business’s revenue was down 1.2% on a year-over-year basis. On average, analysts anticipate that Comcast Corporation will post 3.52 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast’s dividend payout ratio (DPR) is presently 42.72%.

Comcast Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.