Highland Capital Management LLC Has $2.24 Million Stock Position in Comcast Corporation $CMCSA

Key Points

• Highland Capital Management LLC reduced its stake in Comcast Corporation by 25.2%, owning 62,817 shares valued at approximately $2.24 million after selling 21,211 shares in the second quarter.
• Comcast's most recent earnings report showed $1.25 EPS, surpassing estimates by $0.07, with revenue of $30.31 billion for the quarter, a 2.1% year-over-year increase.
• The company declared a quarterly dividend of $0.33 per share, yielding 4.3%, with payments scheduled for October 22nd.

Highland Capital Management LLC lowered its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 25.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,817 shares of the cable giant's stock after selling 21,211 shares during the quarter. Highland Capital Management LLC's holdings in Comcast were worth $2,242,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Berger Financial Group Inc grew its holdings in Comcast by 2.5% during the 2nd quarter. Berger Financial Group Inc now owns 157,631 shares of the cable giant's stock worth $5,626,000 after acquiring an additional 3,868 shares during the last quarter. Clarius Group LLC grew its holdings in Comcast by 12.5% during the 2nd quarter. Clarius Group LLC now owns 16,603 shares of the cable giant's stock worth $593,000 after acquiring an additional 1,846 shares during the last quarter. Sava Infond d.o.o. grew its holdings in Comcast by 208.4% during the 2nd quarter. Sava Infond d.o.o. now owns 9,870 shares of the cable giant's stock worth $352,000 after acquiring an additional 6,670 shares during the last quarter. Apexium Financial LP grew its holdings in Comcast by 18.5% during the 2nd quarter. Apexium Financial LP now owns 17,611 shares of the cable giant's stock worth $629,000 after acquiring an additional 2,752 shares during the last quarter. Finally, 111 Capital grew its holdings in Comcast by 56.8% during the 2nd quarter. 111 Capital now owns 126,581 shares of the cable giant's stock worth $4,518,000 after acquiring an additional 45,855 shares during the last quarter. Institutional investors own 84.32% of the company's stock.

Comcast Stock Up 1.6%

Comcast stock opened at $30.90 on Friday. The company's 50 day simple moving average is $32.73 and its 200 day simple moving average is $34.15. Comcast Corporation has a fifty-two week low of $30.38 and a fifty-two week high of $45.31. The firm has a market capitalization of $114.09 billion, a price-to-earnings ratio of 5.11, a PEG ratio of 1.81 and a beta of 0.94. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $29.81 billion. During the same quarter last year, the firm earned $1.21 EPS. Comcast's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 4.3%. Comcast's dividend payout ratio (DPR) is presently 21.82%.

Analyst Ratings Changes

CMCSA has been the topic of a number of research analyst reports. Rosenblatt Securities increased their price objective on shares of Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Sanford C. Bernstein reduced their target price on shares of Comcast from $37.00 to $36.00 and set a "market perform" rating on the stock in a research note on Wednesday, September 10th. Benchmark reaffirmed a "buy" rating on shares of Comcast in a research note on Friday, July 18th. The Goldman Sachs Group reduced their target price on shares of Comcast from $40.00 to $39.00 and set a "buy" rating on the stock in a research note on Wednesday, September 24th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Comcast in a research note on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $40.26.

Comcast 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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