Envestnet Portfolio Solutions Inc. Reduces Position in Comcast Corporation $CMCSA

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 6.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 345,010 shares of the cable giant's stock after selling 22,315 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Comcast were worth $12,313,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CMCSA. Concord Asset Management LLC VA grew its position in Comcast by 6.8% in the 2nd quarter. Concord Asset Management LLC VA now owns 70,950 shares of the cable giant's stock valued at $2,532,000 after acquiring an additional 4,511 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Comcast by 3.9% during the second quarter. Sequoia Financial Advisors LLC now owns 443,407 shares of the cable giant's stock worth $15,825,000 after purchasing an additional 16,527 shares during the last quarter. Total Clarity Wealth Management Inc. boosted its stake in shares of Comcast by 130.6% during the second quarter. Total Clarity Wealth Management Inc. now owns 17,432 shares of the cable giant's stock valued at $622,000 after purchasing an additional 9,872 shares during the period. Vest Financial LLC grew its holdings in shares of Comcast by 32.3% in the second quarter. Vest Financial LLC now owns 90,953 shares of the cable giant's stock worth $3,246,000 after purchasing an additional 22,194 shares during the last quarter. Finally, MGO One Seven LLC increased its stake in Comcast by 2.6% in the 2nd quarter. MGO One Seven LLC now owns 111,890 shares of the cable giant's stock worth $3,993,000 after buying an additional 2,839 shares during the period. 84.32% of the stock is owned by institutional investors.

Comcast Stock Down 0.2%

Comcast stock opened at $29.41 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The firm has a market cap of $108.59 billion, a P/E ratio of 4.86, a P/E/G ratio of 1.74 and a beta of 0.94. The business has a fifty day moving average of $32.42 and a two-hundred day moving average of $33.85. Comcast Corporation has a twelve month low of $29.39 and a twelve month high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Monday, March 13th. The cable giant reported $0.77 EPS for the quarter. The firm had revenue of $30.34 billion during the quarter. Comcast had a return on equity of 18.86% and a net margin of 18.44%. On average, analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently declared 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 dividend yield of 4.5%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio is presently 21.82%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CMCSA. Benchmark reissued a "buy" rating on shares of Comcast in a research report on Friday, July 18th. KeyCorp decreased their price target on shares of Comcast from $45.00 to $43.00 and set an "overweight" rating for the company in a research note on Friday, October 3rd. Deutsche Bank Aktiengesellschaft dropped their price objective on Comcast from $46.00 to $44.00 and set a "buy" rating on the stock in a research note on Monday, October 6th. Barclays decreased their target price on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Finally, Rosenblatt Securities increased their price target on Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $39.94.

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.

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