First Manhattan CO. LLC. Reduces Stock Position in Comcast Corporation $CMCSA

Key Points

• First Manhattan CO. LLC. reduced its stake in Comcast Corporation by 11.1%, selling 437,724 shares, now holding 3,504,503 shares worth $129,316,000.
• A number of institutional investors, including Aptus Capital Advisors LLC and Ameriprise Financial Inc., have increased their holdings in Comcast, reflecting mixed sentiment among investors.
• Comcast recently declared a quarterly dividend of $0.33 per share, representing a 3.9% dividend yield, to be paid on October 22nd.

First Manhattan CO. LLC. decreased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 11.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,504,503 shares of the cable giant's stock after selling 437,724 shares during the quarter. First Manhattan CO. LLC. owned about 0.09% of Comcast worth $129,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CMCSA. Inlight Wealth Management LLC bought a new stake in Comcast during the 1st quarter valued at $26,000. Abound Financial LLC bought a new stake in Comcast during the 1st quarter valued at $29,000. Retirement Wealth Solutions LLC raised its holdings in Comcast by 126.9% during the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after acquiring an additional 448 shares during the period. Mpwm Advisory Solutions LLC bought a new stake in Comcast during the 4th quarter valued at $33,000. Finally, Global Wealth Strategies & Associates raised its holdings in Comcast by 203.4% during the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after acquiring an additional 600 shares during the period. Institutional investors own 84.32% of the company's stock.

Comcast Trading Down 0.1%

Shares of Comcast stock traded down $0.04 during trading on Friday, reaching $33.91. 21,111,306 shares of the stock were exchanged, compared to its average volume of 19,302,668. 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 stock's fifty day moving average is $34.03 and its 200 day moving average is $34.69. The firm has a market cap of $125.20 billion, a price-to-earnings ratio of 5.60, a price-to-earnings-growth ratio of 2.03 and a beta of 0.93. Comcast Corporation has a 1 year low of $31.03 and a 1 year 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 for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The company had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. Comcast's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 earnings per share. As a group, equities research analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be issued a $0.33 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 3.9%. Comcast's dividend payout ratio (DPR) is 21.82%.

Analysts Set New Price Targets

A number of research firms have recently commented on CMCSA. Morgan Stanley reduced their price target on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a research report on Monday, August 4th. Rosenblatt Securities upped their target price on shares of Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. Rothschild & Co Redburn cut their target price on shares of Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Moffett Nathanson upped their target price on shares of Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Finally, 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 research report on Friday, July 11th. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $40.73.

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.