Columbia Asset Management Sells 283,960 Shares of Comcast Co. (NASDAQ:CMCSA)

Columbia Asset Management lessened its holdings in shares of Comcast Co. (NASDAQ:CMCSA - Free Report) by 95.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 12,939 shares of the cable giant's stock after selling 283,960 shares during the quarter. Columbia Asset Management's holdings in Comcast were worth $477,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CMCSA. Promus Capital LLC acquired a new position in shares of Comcast during the fourth quarter valued at approximately $25,000. Roxbury Financial LLC bought a new position in Comcast during the 4th quarter valued at $27,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Comcast during the 4th quarter valued at $28,000. Retirement Wealth Solutions LLC raised its stake in shares of Comcast by 126.9% in the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after buying an additional 448 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Comcast in the fourth quarter valued at $33,000. Institutional investors own 84.32% of the company's stock.

Comcast Stock Up 1.4%

NASDAQ CMCSA traded up $0.48 during trading on Friday, reaching $34.70. 13,753,001 shares of the company's stock were exchanged, compared to its average volume of 22,033,763. The firm has a market capitalization of $129.56 billion, a PE ratio of 8.36, a P/E/G ratio of 1.78 and a beta of 0.97. Comcast Co. has a fifty-two week low of $31.44 and a fifty-two week high of $45.31. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09. The company's fifty day simple moving average is $34.43 and its 200-day simple moving average is $36.48.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. The business had revenue of $29.89 billion during the quarter, compared to analysts' expectations of $29.82 billion. Comcast had a net margin of 13.09% and a return on equity of 19.98%. The firm's quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $1.04 earnings per share. Sell-side analysts predict that Comcast Co. will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Wednesday, July 2nd. Comcast's dividend payout ratio is currently 32.43%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Oppenheimer lowered their target price on Comcast from $55.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. BNP Paribas lowered shares of Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 price objective for the company. in a research report on Thursday, April 10th. Argus downgraded shares of Comcast from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Wall Street Zen upgraded shares of Comcast from a "buy" rating to a "strong-buy" rating in a report on Thursday, February 27th. Finally, Morgan Stanley set a $37.00 price target on shares of Comcast in a research report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $42.10.

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.