Meiji Yasuda Asset Management Co Ltd. Increases Holdings in Comcast Co. (NASDAQ:CMCSA)

Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,085 shares of the cable giant’s stock after purchasing an additional 2,629 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Comcast were worth $5,368,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Argent Trust Co increased its holdings in Comcast by 0.4% in the 2nd quarter. Argent Trust Co now owns 379,571 shares of the cable giant’s stock valued at $14,864,000 after acquiring an additional 1,645 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Comcast by 5.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 873,614 shares of the cable giant’s stock valued at $34,211,000 after purchasing an additional 41,592 shares in the last quarter. E Fund Management Co. Ltd. increased its holdings in shares of Comcast by 5.1% in the second quarter. E Fund Management Co. Ltd. now owns 58,078 shares of the cable giant’s stock worth $2,274,000 after purchasing an additional 2,843 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in shares of Comcast by 5.5% in the second quarter. Axxcess Wealth Management LLC now owns 140,102 shares of the cable giant’s stock worth $5,486,000 after buying an additional 7,322 shares in the last quarter. Finally, Fairway Wealth LLC boosted its stake in Comcast by 25.6% during the second quarter. Fairway Wealth LLC now owns 1,403 shares of the cable giant’s stock valued at $55,000 after buying an additional 286 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Up 1.4 %

Shares of CMCSA opened at $39.82 on Thursday. The firm has a fifty day moving average price of $39.48 and a 200-day moving average price of $39.67. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $156.24 billion, a P/E ratio of 10.53, a P/E/G ratio of 1.03 and a beta of 1.01. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.11.

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

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a dividend yield of 3.11%. Comcast’s dividend payout ratio is currently 32.80%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CMCSA. KeyCorp reduced their price objective on Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Macquarie reaffirmed a “neutral” rating and set a $40.00 price target on shares of Comcast in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Seaport Res Ptn cut shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 24th. Finally, Barclays dropped their price target on Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $45.78.

Comcast Profile

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.