Avanza Fonder AB Sells 26,632 Shares of Comcast Co. (NASDAQ:CMCSA)

Avanza Fonder AB reduced its stake in Comcast Co. (NASDAQ:CMCSA - Free Report) by 8.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 275,709 shares of the cable giant's stock after selling 26,632 shares during the quarter. Avanza Fonder AB's holdings in Comcast were worth $10,094,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CMCSA. Sculati Wealth Management LLC lifted its position in shares of Comcast by 0.9% during the 4th quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant's stock worth $1,156,000 after purchasing an additional 285 shares during the last quarter. Kovack Advisors Inc. lifted its position in shares of Comcast by 1.1% during the 4th quarter. Kovack Advisors Inc. now owns 26,470 shares of the cable giant's stock worth $993,000 after purchasing an additional 300 shares during the last quarter. Beck Mack & Oliver LLC lifted its position in shares of Comcast by 2.0% during the 4th quarter. Beck Mack & Oliver LLC now owns 15,539 shares of the cable giant's stock worth $583,000 after purchasing an additional 300 shares during the last quarter. Toth Financial Advisory Corp lifted its position in shares of Comcast by 9.0% during the 1st quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant's stock worth $134,000 after purchasing an additional 300 shares during the last quarter. Finally, Cypress Wealth Services LLC lifted its position in shares of Comcast by 1.7% during the 1st quarter. Cypress Wealth Services LLC now owns 18,706 shares of the cable giant's stock worth $690,000 after purchasing an additional 318 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on CMCSA. Wells Fargo & Company cut Comcast from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $37.00 to $31.00 in a report on Monday, April 14th. Barclays cut their price target on Comcast from $37.00 to $35.00 and set an "equal weight" rating for the company in a report on Monday, April 28th. Citigroup cut their price target on Comcast from $44.00 to $39.00 and set a "buy" rating for the company in a report on Friday, April 25th. KeyCorp cut their price target on Comcast from $47.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, Scotiabank reaffirmed a "sector perform" rating and issued a $44.50 price target (down previously from $45.00) on shares of Comcast in a report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Comcast has a consensus rating of "Moderate Buy" and an average price target of $42.10.

Comcast Price Performance

NASDAQ CMCSA traded down $0.26 during trading hours on Friday, reaching $35.01. 17,189,721 shares of the company's stock were exchanged, compared to its average volume of 22,054,943. The stock has a market cap of $130.72 billion, a PE ratio of 8.44, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. Comcast Co. has a one year low of $31.44 and a one year high of $45.31. The firm has a fifty day moving average of $34.42 and a 200-day moving average of $36.20. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.08. The business had revenue of $29.89 billion for the quarter, compared to analyst estimates of $29.82 billion. Comcast had a return on equity of 19.98% and a net margin of 13.09%. Comcast's revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $1.04 EPS. On average, equities research analysts predict that Comcast Co. will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.77%. Comcast's dividend payout ratio (DPR) is presently 32.43%.

Comcast Company 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.