Beese Fulmer Investment Management Inc. Purchases 1,266 Shares of Comcast Co. (NASDAQ:CMCSA)

Beese Fulmer Investment Management Inc. increased its position in Comcast Co. (NASDAQ:CMCSA) by 0.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 332,920 shares of the cable giant’s stock after acquiring an additional 1,266 shares during the quarter. Comcast comprises about 1.5% of Beese Fulmer Investment Management Inc.’s holdings, making the stock its 19th biggest holding. Beese Fulmer Investment Management Inc.’s holdings in Comcast were worth $13,833,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Corrado Advisors LLC purchased a new stake in Comcast in the fourth quarter valued at approximately $25,000. Kalos Management Inc. purchased a new stake in Comcast in the first quarter valued at approximately $28,000. NewSquare Capital LLC raised its stake in Comcast by 134.3% in the first quarter. NewSquare Capital LLC now owns 752 shares of the cable giant’s stock valued at $29,000 after purchasing an additional 431 shares in the last quarter. GW&K Investment Management LLC purchased a new stake in Comcast in the first quarter valued at approximately $29,000. Finally, Fortis Capital Advisors LLC purchased a new stake in Comcast in the fourth quarter valued at approximately $29,000. 82.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Credit Suisse Group raised their target price on shares of Comcast from $50.00 to $54.00 in a research note on Thursday, July 27th. StockNews.com assumed coverage on shares of Comcast in a research note on Thursday, August 17th. They set a “strong-buy” rating on the stock. Barclays lifted their price target on shares of Comcast from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, July 31st. Loop Capital lifted their price target on shares of Comcast from $50.00 to $53.00 in a research note on Friday, July 28th. Finally, Argus lifted their price target on shares of Comcast from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Comcast has an average rating of “Moderate Buy” and a consensus target price of $47.88.

Comcast Stock Down 1.4 %

Shares of CMCSA stock traded down $0.63 during mid-day trading on Friday, reaching $45.34. 45,437,408 shares of the company’s stock traded hands, compared to its average volume of 18,846,537. Comcast Co. has a 12 month low of $28.39 and a 12 month high of $47.46. The company has a market cap of $187.03 billion, a P/E ratio of 28.70, a P/E/G ratio of 1.25 and a beta of 0.99. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.12. The company’s 50-day moving average price is $44.84 and its 200-day moving average price is $41.02.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, July 27th. The cable giant reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.15. Comcast had a net margin of 5.40% and a return on equity of 19.79%. The firm had revenue of $30.51 billion for the quarter, compared to analysts’ expectations of $30.11 billion. During the same quarter in the previous year, the business posted $1.01 EPS. The company’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities analysts expect that Comcast Co. will post 3.81 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Tuesday, October 3rd. Comcast’s dividend payout ratio (DPR) is presently 73.42%.

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, advertising sales, and Sky channels.