Ethic Inc. Lowers Stock Position in Comcast Corporation $CMCSA

Key Points

• Ethic Inc. reduced its holdings in Comcast by 4.7% during Q1, currently owning 452,778 shares worth about $16.63 million.
• Comcast reported earnings of $1.25 per share, exceeding analysts' expectations of $1.18, with revenue of $30.31 billion for the quarter.
• The company announced a quarterly dividend of $0.33, payable on October 22nd, with a dividend yield of 4.0%.

Ethic Inc. decreased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 4.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 452,778 shares of the cable giant's stock after selling 22,129 shares during the quarter. Ethic Inc.'s holdings in Comcast were worth $16,626,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Inlight Wealth Management LLC acquired a new position in Comcast during the 1st quarter worth $26,000. Abound Financial LLC acquired a new stake in Comcast in the 1st quarter valued at about $29,000. Retirement Wealth Solutions LLC raised its position in shares of Comcast by 126.9% in the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after buying an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new position in Comcast in the fourth quarter valued at approximately $33,000. Finally, Global Wealth Strategies & Associates grew its stake in shares of Comcast by 203.4% during the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock worth $33,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Barclays dropped their price target on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Argus lowered shares of Comcast from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Morgan Stanley dropped their price target on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a research report on Monday, August 4th. JPMorgan Chase & Co. decreased their price target on shares of Comcast from $39.00 to $37.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Finally, Evercore ISI reduced their price target on shares of Comcast from $44.00 to $40.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $40.73.

Comcast Price Performance

Shares of CMCSA stock traded up $0.55 on Friday, hitting $33.45. 20,700,567 shares of the stock traded hands, compared to its average volume of 23,588,068. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $123.50 billion, a price-to-earnings ratio of 5.53, a PEG ratio of 2.01 and a beta of 0.92. The firm has a 50 day simple moving average of $34.36 and a two-hundred day simple moving average of $34.78. Comcast Corporation has a 52 week low of $31.03 and a 52 week high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The firm had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 EPS. As a group, equities research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

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

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.