Cresset Asset Management LLC Decreases Stock Position in Comcast Corporation $CMCSA

Key Points

• Cresset Asset Management LLC has reduced its stake in Comcast Corporation by 4.7%, selling 10,363 shares and now holding 210,013 shares valued at approximately $7.75 million.
• Comcast's most recent earnings report showed EPS of $1.25, exceeding analysts' expectations of $1.18, and a revenue increase of 2.1% year-over-year.
• The company declared a quarterly dividend of $0.33 per share, with a yield of 3.9%, payable on October 22nd.

Cresset Asset Management LLC decreased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,013 shares of the cable giant's stock after selling 10,363 shares during the period. Cresset Asset Management LLC's holdings in Comcast were worth $7,749,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen LLC bought a new position in Comcast in the first quarter worth approximately $940,015,000. Pacer Advisors Inc. boosted its holdings in Comcast by 1,959.3% in the first quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant's stock worth $488,140,000 after acquiring an additional 12,586,329 shares in the last quarter. KBC Group NV boosted its holdings in Comcast by 724.7% in the first quarter. KBC Group NV now owns 10,160,649 shares of the cable giant's stock worth $374,927,000 after acquiring an additional 8,928,641 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Comcast by 12.0% in the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock worth $1,890,027,000 after acquiring an additional 5,402,377 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Comcast by 16.4% in the fourth 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 acquiring an additional 4,991,891 shares in the last quarter. Institutional investors own 84.32% of the company's stock.

Comcast Stock Performance

Shares of CMCSA traded up $0.5310 on Friday, reaching $34.1310. 18,052,003 shares of the company's stock traded hands, compared to its average volume of 24,228,381. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The stock has a market cap of $126.02 billion, a PE ratio of 5.64, a PEG ratio of 1.99 and a beta of 0.92. The stock's 50 day simple moving average is $34.23 and its two-hundred day simple moving average is $34.76. 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 issued its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. The company 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%.Comcast's revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $1.21 earnings per share. On average, analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors 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 3.9%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is presently 21.82%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CMCSA shares. JPMorgan Chase & Co. cut their price target on Comcast from $39.00 to $37.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Barclays dropped their target price on Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Benchmark restated a "buy" rating on shares of Comcast in a report on Friday, July 18th. Morgan Stanley dropped their target price on Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a report on Monday, August 4th. Finally, The Goldman Sachs Group dropped their target price on Comcast from $44.00 to $40.00 and set a "buy" rating on the stock in a report on Friday, April 25th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Comcast presently has a consensus rating of "Hold" and a consensus target price of $40.73.

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.