Meridian Wealth Management LLC Buys 6,972 Shares of Comcast Co. (NASDAQ:CMCSA)

Meridian Wealth Management LLC boosted its holdings in Comcast Co. (NASDAQ:CMCSA) by 94.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,325 shares of the cable giant’s stock after buying an additional 6,972 shares during the period. Meridian Wealth Management LLC’s holdings in Comcast were worth $598,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in shares of Comcast by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 38,329,384 shares of the cable giant’s stock worth $1,500,722,000 after acquiring an additional 1,000,626 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Comcast by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,871,235 shares of the cable giant’s stock worth $1,331,192,000 after buying an additional 416,759 shares during the period. Ontario Teachers Pension Plan Board boosted its position in shares of Comcast by 5.4% during the third quarter. Ontario Teachers Pension Plan Board now owns 15,983,230 shares of the cable giant’s stock worth $667,620,000 after buying an additional 822,936 shares during the period. First Pacific Advisors LP boosted its position in Comcast by 2.1% during the second quarter. First Pacific Advisors LP now owns 10,818,009 shares of the cable giant’s stock valued at $423,633,000 after purchasing an additional 219,894 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in Comcast by 7.8% during the second quarter. Van ECK Associates Corp now owns 9,886,479 shares of the cable giant’s stock valued at $387,155,000 after purchasing an additional 713,330 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Comcast Stock Down 0.1 %

Shares of CMCSA stock opened at $43.47 on Monday. The company’s fifty day simple moving average is $41.98 and its two-hundred day simple moving average is $40.05. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. The stock has a market cap of $166.34 billion, a P/E ratio of 11.69, a PEG ratio of 1.65 and a beta of 1.00. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.06. The firm had revenue of $32.07 billion for the quarter, compared to analysts’ expectations of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 EPS. Analysts predict that Comcast Co. will post 4.26 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s dividend payout ratio (DPR) is currently 33.33%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. StockNews.com lowered Comcast from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. KeyCorp raised their price objective on Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Scotiabank raised Comcast from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $47.75 to $48.00 in a report on Friday, November 1st. Barclays boosted their price objective on Comcast from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.19.

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.