King Luther Capital Management Corp Sells 10,143 Shares of Comcast Corporation (NASDAQ:CMCSA)

Key Points

• King Luther Capital Management Corp reduced its stake in Comcast by 16.4%, selling over 10,000 shares and retaining approximately 51,806 shares valued at $1.91 million.
• Comcast reported earnings of $1.25 per share, exceeding expectations and indicating a 2.1% increase in quarterly revenue year-over-year.
• The company recently declared a quarterly dividend of $0.33 per share, with a dividend yield of 4.2% and a payout ratio of 21.82%.

King Luther Capital Management Corp lessened its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 16.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,806 shares of the cable giant's stock after selling 10,143 shares during the quarter. King Luther Capital Management Corp's holdings in Comcast were worth $1,912,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMCSA. Capital World Investors increased 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 worth $5,317,167,000 after purchasing an additional 11,255,683 shares during the last quarter. Dodge & Cox increased its position in shares of Comcast by 6.8% during the 4th quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant's stock worth $2,968,723,000 after purchasing an additional 5,039,823 shares during the last quarter. Ameriprise Financial Inc. increased its position 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 during the last quarter. Northern Trust Corp increased its position in shares of Comcast by 12.8% during the 4th quarter. Northern Trust Corp now owns 42,479,501 shares of the cable giant's stock worth $1,594,256,000 after purchasing an additional 4,819,443 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Comcast by 16.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,356,027 shares of the cable giant's stock worth $1,326,912,000 after purchasing an additional 4,991,891 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CMCSA. Rothschild & Co Redburn lowered their price target on Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Argus downgraded Comcast from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Rosenblatt Securities lifted their target price on Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Monday, August 4th. TD Cowen reduced their target price on Comcast from $46.00 to $45.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, BNP Paribas Exane reduced their target price on Comcast from $31.00 to $30.00 and set an "underperform" rating for the company 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 issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $40.73.

Comcast Price Performance

Shares of NASDAQ:CMCSA traded up $0.84 during trading on Wednesday, reaching $32.94. 29,733,444 shares of the company traded hands, compared to its average volume of 23,008,912. The company's 50 day moving average is $34.41 and its two-hundred day moving average is $34.85. The firm has a market capitalization of $121.62 billion, a PE ratio of 5.44, a PEG ratio of 1.93 and a beta of 0.92. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. 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 earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. The firm had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%. The company's revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.21 EPS. As a group, sell-side analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The business 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 4.0%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend 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.