Klingenstein Fields & Co. LP Reduces Position in Comcast Corporation (NASDAQ:CMCSA)

Klingenstein Fields & Co. LP reduced its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 19.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,527 shares of the cable giant's stock after selling 58,864 shares during the quarter. Klingenstein Fields & Co. LP's holdings in Comcast were worth $8,802,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CMCSA. Brighton Jones LLC raised its holdings in Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock worth $6,240,000 after purchasing an additional 99,986 shares in the last quarter. Fisher Asset Management LLC lifted its position in Comcast by 0.9% during the fourth quarter. Fisher Asset Management LLC now owns 74,449 shares of the cable giant's stock valued at $2,794,000 after acquiring an additional 681 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in Comcast by 171.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 13,894 shares of the cable giant's stock valued at $521,000 after acquiring an additional 8,767 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Comcast in the fourth quarter valued at approximately $80,000. Finally, Fidelis Capital Partners LLC lifted its holdings in shares of Comcast by 13.6% during the 4th quarter. Fidelis Capital Partners LLC now owns 31,264 shares of the cable giant's stock valued at $1,173,000 after purchasing an additional 3,735 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Barclays dropped their target price on Comcast from $37.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. Morgan Stanley set a $37.00 target price on shares of Comcast in a research note on Friday, April 25th. Oppenheimer decreased their price target on shares of Comcast from $55.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Scotiabank reissued a "sector perform" rating and set a $44.50 price objective (down from $45.00) on shares of Comcast in a report on Friday, April 25th. Finally, Argus downgraded Comcast from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $42.10.

Comcast Price Performance

Shares of CMCSA stock traded down $0.50 during mid-day trading on Wednesday, hitting $35.83. 24,141,771 shares of the stock were exchanged, compared to its average volume of 21,985,482. Comcast Corporation has a 52-week low of $31.44 and a 52-week high of $45.31. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.06. The company has a market cap of $133.78 billion, a PE ratio of 8.80, a price-to-earnings-growth ratio of 1.73 and a beta of 0.95. The firm has a fifty day moving average of $34.69 and a 200 day moving average of $35.56.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued 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. The company had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $29.82 billion. Comcast had a return on equity of 19.70% and a net margin of 12.72%. Comcast's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.04 earnings per share. Research analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Wednesday, July 2nd. Comcast's dividend payout ratio is presently 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.