Boston Family Office LLC Trims Stock Holdings in Comcast Corporation $CMCSA

Key Points

• Boston Family Office LLC reduced its stake in Comcast by 51.2%, holding 36,043 shares worth $1.33 million after selling 37,831 shares.
• Comcast's latest earnings report showed a 2.1% year-over-year revenue increase to $30.31 billion, beating expectations with an EPS of $1.25.
• The company declared a $0.33 quarterly dividend with a yield of 3.9%, which will be paid on October 22nd to shareholders of record as of October 1st.

Boston Family Office LLC cut its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 51.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,043 shares of the cable giant's stock after selling 37,831 shares during the quarter. Boston Family Office LLC's holdings in Comcast were worth $1,330,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CMCSA. Nuveen LLC purchased a new position in Comcast in the 1st quarter valued at approximately $940,015,000. Pacer Advisors Inc. raised its position in Comcast by 1,959.3% during the first quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant's stock worth $488,140,000 after acquiring an additional 12,586,329 shares during the last quarter. Capital World Investors lifted its holdings in shares of Comcast by 8.6% in the fourth quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock valued at $5,317,167,000 after purchasing an additional 11,255,683 shares in the last quarter. KBC Group NV grew its position in shares of Comcast by 724.7% in the first quarter. KBC Group NV now owns 10,160,649 shares of the cable giant's stock valued at $374,927,000 after purchasing an additional 8,928,641 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Comcast by 12.0% during the 4th quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock worth $1,890,027,000 after purchasing an additional 5,402,377 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Rosenblatt Securities increased their target price on Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Scotiabank increased their price objective on Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. The Goldman Sachs Group dropped their price objective on Comcast from $44.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, April 25th. BNP Paribas Exane reduced their target price on shares of Comcast from $31.00 to $30.00 and set an "underperform" rating on the stock in a report on Friday, April 25th. Finally, New Street Research lowered their price target on shares of Comcast from $44.00 to $38.00 and set a "buy" rating for the company in a report on Friday, April 25th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $40.73.

Comcast Trading Up 1.4%

Comcast stock traded up $0.46 during midday trading on Tuesday, reaching $33.89. The stock had a trading volume of 16,789,856 shares, compared to its average volume of 24,053,308. The stock's 50-day simple moving average is $34.30 and its 200 day simple moving average is $34.77. Comcast Corporation has a twelve month low of $31.03 and a twelve month high of $45.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $125.13 billion, a PE ratio of 5.60, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. The company had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The firm's revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 earnings per share. Analysts expect that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's payout ratio is presently 21.82%.

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.