Dillon & Associates Inc. Sells 13,885 Shares of Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Dillon & Associates Inc. has reduced its stake in Comcast by 65.1%, now holding 7,450 shares valued at $276,000 after selling 13,885 shares in the first quarter.
• A variety of hedge funds, such as Capital World Investors and Dodge & Cox, have increased their positions in Comcast, with Capital World now owning 141.7 million shares valued at $5.3 billion.
• Comcast reported a quarterly earnings per share (EPS) of $1.25, exceeding analysts' expectations, and declared a quarterly dividend of $0.33 with a yield of 4.2%.

Dillon & Associates Inc. reduced its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 65.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 7,450 shares of the cable giant's stock after selling 13,885 shares during the period. Dillon & Associates Inc.'s holdings in Comcast were worth $276,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CMCSA. Capital World Investors increased its position in shares of Comcast by 8.6% in the fourth quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock valued at $5,317,167,000 after acquiring an additional 11,255,683 shares during the period. Dodge & Cox increased its position in shares of Comcast by 6.8% in the fourth quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant's stock valued at $2,968,723,000 after acquiring an additional 5,039,823 shares during the period. Ameriprise Financial Inc. increased its position in shares of Comcast by 12.0% in the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock valued at $1,890,027,000 after acquiring an additional 5,402,377 shares during the period. Northern Trust Corp increased its position in shares of Comcast by 12.8% during the fourth quarter. Northern Trust Corp now owns 42,479,501 shares of the cable giant's stock valued at $1,594,256,000 after buying an additional 4,819,443 shares during the period. 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 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 valued at $1,326,912,000 after buying an additional 4,991,891 shares during the period. 84.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CMCSA shares. Benchmark reissued a "buy" rating on shares of Comcast in a research note on Friday, July 18th. Scotiabank boosted their price objective on shares of Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Wells Fargo & Company lowered shares of Comcast from an "equal weight" rating to an "underweight" rating and dropped their price objective for the stock from $37.00 to $31.00 in a research note on Monday, April 14th. Evercore ISI dropped their target price 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. Finally, BNP Paribas Exane dropped their target price on shares of Comcast from $31.00 to $30.00 and set an "underperform" rating on the stock in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Comcast has a consensus rating of "Hold" and a consensus target price of $40.73.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $31.67 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a 12 month low of $31.44 and a 12 month high of $45.31. The company has a 50 day simple moving average of $34.55 and a two-hundred day simple moving average of $34.93. The stock has a market cap of $116.93 billion, a price-to-earnings ratio of 5.23, a PEG ratio of 1.90 and a beta of 0.92.

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

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's 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.

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