Envestnet Portfolio Solutions Inc. Reduces Holdings in Comcast Corporation (NASDAQ:CMCSA)

Envestnet Portfolio Solutions Inc. cut its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 9.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 367,325 shares of the cable giant's stock after selling 40,508 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Comcast were worth $13,554,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CMCSA. Brighton Jones LLC lifted its stake in shares of Comcast by 150.9% in the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock valued at $6,240,000 after purchasing an additional 99,986 shares during the last quarter. Atria Wealth Solutions Inc. lifted its position in Comcast by 5.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 180,309 shares of the cable giant's stock valued at $6,767,000 after buying an additional 9,390 shares during the last quarter. Bank of Jackson Hole Trust acquired a new position in Comcast in the fourth quarter valued at about $123,000. Atlas Legacy Advisors LLC purchased a new position in Comcast during the fourth quarter worth about $218,000. Finally, Convergence Investment Partners LLC increased its position in shares of Comcast by 16.5% during the fourth quarter. Convergence Investment Partners LLC now owns 34,482 shares of the cable giant's stock valued at $1,294,000 after acquiring an additional 4,890 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CMCSA. Scotiabank restated a "sector perform" rating and issued a $44.50 price objective (down from $45.00) on shares of Comcast in a report on Friday, April 25th. Citigroup decreased their price target on Comcast from $44.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. BNP Paribas lowered Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 price target for the company. in a research report on Thursday, April 10th. Rosenblatt Securities reiterated a "neutral" rating and issued a $36.00 price objective on shares of Comcast in a report on Monday, April 28th. Finally, KeyCorp lowered their target price on Comcast from $47.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $42.10.

Comcast Stock Up 0.8%

Shares of CMCSA traded up $0.27 during midday trading on Friday, reaching $34.53. The stock had a trading volume of 42,690,031 shares, compared to its average volume of 22,079,864. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65. The company's fifty day simple moving average is $34.50 and its two-hundred day simple moving average is $35.86. The company has a market cap of $128.92 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 1.67 and a beta of 0.95. Comcast Corporation has a 1-year low of $31.44 and a 1-year high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.08. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The company had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $29.82 billion. During the same period in the previous year, the business earned $1.04 EPS. Comcast's revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts expect 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, July 23rd. Shareholders of record on Wednesday, July 2nd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 annualized dividend and a yield of 3.82%. Comcast's dividend payout ratio is currently 32.43%.

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.