Tocqueville Asset Management L.P. Trims Stock Position in Comcast Corporation $CMCSA

Key Points

• Tocqueville Asset Management L.P. significantly reduced its holdings in Comcast Corporation by 76%, selling 305,923 shares and owning 96,638 shares valued at $3.57 million as of its latest SEC filing.
• Comcast recently announced a quarterly dividend of $0.33 per share, reflecting an annualized dividend of $1.32 with a yield of 3.9% and a payout ratio of 21.82%.
• The stock's price performance shows a 1-year range from $31.03 to $45.31, with a recent market capitalization of $123.50 billion and a PE ratio of 5.53.

Tocqueville Asset Management L.P. decreased its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 76.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,638 shares of the cable giant's stock after selling 305,923 shares during the period. Tocqueville Asset Management L.P.'s holdings in Comcast were worth $3,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMCSA. Brighton Jones LLC lifted its stake in Comcast by 150.9% during the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock valued at $6,240,000 after acquiring an additional 99,986 shares during the period. Capital International Sarl raised its holdings in shares of Comcast by 8.1% during the fourth quarter. Capital International Sarl now owns 148,544 shares of the cable giant's stock worth $5,575,000 after purchasing an additional 11,105 shares during the last quarter. Forum Financial Management LP lifted its position in Comcast by 4.0% during the fourth quarter. Forum Financial Management LP now owns 60,149 shares of the cable giant's stock valued at $2,257,000 after purchasing an additional 2,338 shares during the period. First Trust Advisors LP boosted its holdings in Comcast by 6.5% in the fourth quarter. First Trust Advisors LP now owns 3,828,656 shares of the cable giant's stock valued at $143,689,000 after purchasing an additional 235,301 shares during the last quarter. Finally, Curi RMB Capital LLC grew its position in Comcast by 44.7% during the 4th quarter. Curi RMB Capital LLC now owns 325,403 shares of the cable giant's stock worth $12,212,000 after purchasing an additional 100,486 shares during the period. Institutional investors and hedge funds own 84.32% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CMCSA shares. Arete Research raised Comcast to a "hold" rating in a report on Tuesday, July 8th. Barclays lowered their price objective on Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Scotiabank upped their target price on shares of Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. Rothschild & Co Redburn decreased their price target on shares of Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Finally, Evercore ISI lowered their price target on shares of Comcast from $44.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Comcast currently has a consensus rating of "Hold" and a consensus price target of $40.73.

Comcast Trading Down 1.8%

Shares of NASDAQ CMCSA traded down $0.60 during midday trading on Wednesday, reaching $33.29. 20,289,539 shares of the stock were exchanged, compared to its average volume of 24,326,885. The stock has a market capitalization of $122.91 billion, a P/E ratio of 5.50, a PEG ratio of 2.01 and a beta of 0.92. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The company has a 50 day simple moving average of $34.30 and a 200 day simple moving average of $34.77. Comcast Corporation has a twelve month low of $31.03 and a twelve month high of $45.31.

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

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.0%. Comcast's dividend payout ratio is 21.82%.

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.