3Chopt Investment Partners LLC Lowers Position in Comcast Corporation $CMCSA

Key Points

• 3Chopt Investment Partners LLC significantly reduced its holdings in Comcast Corporation by 63.6%, now owning 9,970 shares valued at $356,000.
• Comcast declared a quarterly dividend of $0.33, providing an annualized yield of 4.5% for investors.
• Hedge funds and institutional investors own 84.32% of Comcast's stock, indicating substantial institutional interest in the company.

3Chopt Investment Partners LLC cut its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 63.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,970 shares of the cable giant's stock after selling 17,443 shares during the quarter. 3Chopt Investment Partners LLC's holdings in Comcast were worth $356,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CMCSA. Nuveen LLC purchased a new stake in Comcast in the first quarter worth about $940,015,000. Dodge & Cox raised its holdings in Comcast by 19.1% in the first quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant's stock worth $3,476,635,000 after purchasing an additional 15,115,074 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Comcast by 1,959.3% in the first quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant's stock worth $488,140,000 after purchasing an additional 12,586,329 shares in the last quarter. KBC Group NV raised its holdings in Comcast by 724.7% in the first quarter. KBC Group NV now owns 10,160,649 shares of the cable giant's stock worth $374,927,000 after purchasing an additional 8,928,641 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Comcast by 119.1% in the first quarter. Acadian Asset Management LLC now owns 7,595,322 shares of the cable giant's stock worth $280,238,000 after purchasing an additional 4,128,434 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Stock Performance

CMCSA opened at $29.46 on Friday. Comcast Corporation has a 52-week low of $29.42 and a 52-week high of $45.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The company has a market cap of $108.77 billion, a P/E ratio of 4.87, a price-to-earnings-growth ratio of 1.78 and a beta of 0.94. The firm's 50-day moving average price is $32.48 and its 200-day moving average price is $33.95.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm had revenue of $30.34 billion for the quarter. As a group, equities analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.5%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio is 21.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Comcast in a report on Saturday, September 27th. Rosenblatt Securities boosted their target price on shares of Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Scotiabank reiterated a "sector perform" rating and issued a $45.50 target price (up from $45.00) on shares of Comcast in a report on Monday. Rothschild & Co Redburn reduced their target price on shares of Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Finally, KeyCorp reduced their target price on shares of Comcast from $45.00 to $43.00 and set an "overweight" rating for the company in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $39.94.

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.

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