Carret Asset Management LLC Reduces Stake in Comcast Corporation (NASDAQ:CMCSA)

Carret Asset Management LLC decreased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 12.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,486 shares of the cable giant's stock after selling 8,215 shares during the quarter. Carret Asset Management LLC's holdings in Comcast were worth $2,158,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Norges Bank purchased a new position in Comcast during the fourth quarter worth approximately $3,835,226,000. Raymond James Financial Inc. acquired a new stake in shares of Comcast in the 4th quarter worth $743,681,000. Amundi raised its holdings in shares of Comcast by 147.9% during the 4th quarter. Amundi now owns 24,086,671 shares of the cable giant's stock worth $895,499,000 after acquiring an additional 14,369,056 shares during the period. Capital World Investors boosted its position in shares of Comcast by 8.6% during the 4th quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock valued at $5,317,167,000 after acquiring an additional 11,255,683 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Comcast by 12.0% in the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock valued at $1,890,027,000 after purchasing an additional 5,402,377 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Up 0.8%

CMCSA traded up $0.27 during trading hours on Friday, hitting $34.53. 42,690,031 shares of the company's stock were exchanged, compared to its average volume of 21,971,160. The firm has a market cap of $128.92 billion, a P/E ratio of 8.48, a price-to-earnings-growth ratio of 1.69 and a beta of 0.95. Comcast Corporation has a 12-month low of $31.44 and a 12-month high of $45.31. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.06. The firm has a 50 day moving average of $34.50 and a 200 day moving average of $35.82.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 earnings per share 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 19.70% and a net margin of 12.72%. The company's revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 earnings per share. Analysts predict that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast's dividend payout ratio is currently 32.43%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Rosenblatt Securities reiterated a "neutral" rating and issued a $36.00 target price on shares of Comcast in a report on Monday, April 28th. Morgan Stanley set a $37.00 price objective on Comcast in a research report on Friday, April 25th. Wall Street Zen upgraded Comcast from a "buy" rating to a "strong-buy" rating in a research report on Thursday, February 27th. Barclays decreased their price target on Comcast from $37.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. Finally, KeyCorp cut their price objective on Comcast from $47.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $42.10.

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.