Catalina Capital Group LLC Cuts Position in Comcast Corporation (NASDAQ:CMCSA)

Catalina Capital Group LLC cut its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 57.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,557 shares of the cable giant's stock after selling 11,679 shares during the quarter. Catalina Capital Group LLC's holdings in Comcast were worth $316,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new stake in shares of Comcast in the fourth quarter worth about $743,681,000. Mission Wealth Management LP boosted its holdings in Comcast by 8.3% in the fourth quarter. Mission Wealth Management LP now owns 43,509 shares of the cable giant's stock valued at $1,633,000 after acquiring an additional 3,344 shares in the last quarter. Aviva PLC lifted its position in Comcast by 7.2% during the fourth quarter. Aviva PLC now owns 2,327,702 shares of the cable giant's stock valued at $87,359,000 after buying an additional 156,986 shares during the period. First Eagle Investment Management LLC raised its position in shares of Comcast by 7.1% in the 4th quarter. First Eagle Investment Management LLC now owns 34,101,077 shares of the cable giant's stock worth $1,279,813,000 after purchasing an additional 2,270,186 shares during the last quarter. Finally, Argentarii LLC purchased a new position in shares of Comcast in the 4th quarter worth about $769,000. 84.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of a number of recent research reports. Barclays cut their price objective on Comcast from $37.00 to $35.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. KeyCorp dropped their price target on Comcast from $47.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company cut Comcast from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $37.00 to $31.00 in a research note on Monday, April 14th. Rosenblatt Securities restated a "neutral" rating and issued a $36.00 price objective on shares of Comcast in a research note on Monday, April 28th. Finally, Citigroup reduced their target price on Comcast from $44.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $42.10.

Comcast Stock Up 0.8%

Shares of CMCSA traded up $0.27 during mid-day trading on Friday, hitting $34.53. 42,690,031 shares of the company traded hands, compared to its average volume of 22,079,855. Comcast Corporation has a 1-year low of $31.44 and a 1-year high of $45.31. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $128.92 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 1.67 and a beta of 0.95. The business has a 50 day moving average of $34.50 and a 200 day moving average of $35.86.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.08. The firm had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $29.82 billion. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The firm's revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 EPS. Equities research analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd 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 3.82%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast's dividend payout ratio 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.