Foster & Motley Inc. Has $3.42 Million Position in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Foster & Motley Inc. has reduced its stake in Comcast Corporation by 18.8%, owning approximately $3.42 million worth of shares following the sale of 21,452 shares during the first quarter.
• Multiple institutional investors have increased their holdings in Comcast, with Baader Bank Aktiengesellschaft making the largest increase of 43.3% in the same period.
• Comcast recently declared a quarterly dividend of $0.33, resulting in an annualized yield of 4.06%, and has a current payout ratio of 32.43%.

Foster & Motley Inc. decreased its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 18.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,617 shares of the cable giant's stock after selling 21,452 shares during the quarter. Foster & Motley Inc.'s holdings in Comcast were worth $3,418,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Natixis Advisors LLC increased its stake in shares of Comcast by 4.7% in the first quarter. Natixis Advisors LLC now owns 3,162,028 shares of the cable giant's stock valued at $116,678,000 after buying an additional 142,169 shares during the period. FSB Premier Wealth Management Inc. increased its holdings in Comcast by 16.7% during the first quarter. FSB Premier Wealth Management Inc. now owns 45,406 shares of the cable giant's stock worth $1,675,000 after buying an additional 6,501 shares during the last quarter. Baader Bank Aktiengesellschaft increased its stake in shares of Comcast by 43.3% in the first quarter. Baader Bank Aktiengesellschaft now owns 7,793 shares of the cable giant's stock worth $286,000 after purchasing an additional 2,355 shares in the last quarter. Aegis Wealth Management LLC increased its holdings in shares of Comcast by 7.4% in the first quarter. Aegis Wealth Management LLC now owns 8,669 shares of the cable giant's stock worth $320,000 after purchasing an additional 596 shares during the period. Finally, Mesirow Financial Investment Management Inc. boosted its stake in Comcast by 8.2% during the first quarter. Mesirow Financial Investment Management Inc. now owns 71,681 shares of the cable giant's stock valued at $2,645,000 after buying an additional 5,416 shares during the period. Institutional investors and hedge funds own 84.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CMCSA shares. KeyCorp decreased their target price on shares of Comcast from $47.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. The Goldman Sachs Group dropped their price target on Comcast from $44.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Bernstein Bank lowered their price objective on Comcast from $38.00 to $37.00 and set a "market perform" rating for the company in a research note on Friday, April 25th. Rothschild & Co Redburn cut their target price on Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Finally, Arete Research raised Comcast to a "hold" rating in a research report on Tuesday, July 8th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $41.13.

Comcast Price Performance

Comcast stock opened at $32.50 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.06. The company has a fifty day simple moving average of $34.86 and a 200-day simple moving average of $35.16. The stock has a market cap of $121.35 billion, a P/E ratio of 7.99, a price-to-earnings-growth ratio of 1.59 and a beta of 0.95. Comcast Corporation has a 12-month low of $31.44 and a 12-month high of $45.31.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd were issued a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.06%. Comcast's payout ratio is currently 32.43%.

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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