Pinnacle Associates Ltd. cut its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 3.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 535,659 shares of the cable giant's stock after selling 16,334 shares during the quarter. Pinnacle Associates Ltd.'s holdings in Comcast were worth $19,766,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in CMCSA. AE Wealth Management LLC grew its holdings in Comcast by 8.8% during the first quarter. AE Wealth Management LLC now owns 525,802 shares of the cable giant's stock worth $19,402,000 after purchasing an additional 42,445 shares during the period. Blume Capital Management Inc. lifted its position in shares of Comcast by 11.9% in the first quarter. Blume Capital Management Inc. now owns 265,597 shares of the cable giant's stock valued at $9,801,000 after buying an additional 28,278 shares during the last quarter. Abel Hall LLC boosted its stake in shares of Comcast by 91.0% during the 1st quarter. Abel Hall LLC now owns 12,433 shares of the cable giant's stock worth $459,000 after acquiring an additional 5,925 shares during the period. Wakefield Asset Management LLLP acquired a new position in shares of Comcast during the 1st quarter worth approximately $450,000. Finally, Triumph Capital Management raised its stake in Comcast by 5.8% in the 1st quarter. Triumph Capital Management now owns 14,874 shares of the cable giant's stock valued at $549,000 after acquiring an additional 819 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. Citigroup dropped their price target on Comcast from $44.00 to $39.00 and set a "buy" rating for the company in a report on Friday, April 25th. Argus downgraded Comcast from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. New Street Research decreased their price target on shares of Comcast from $44.00 to $38.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. The Goldman Sachs Group lowered their price target on shares of Comcast from $44.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Evercore ISI cut their price objective on shares of Comcast from $44.00 to $40.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Comcast currently has an average rating of "Hold" and a consensus price target of $41.13.
Get Our Latest Report on CMCSA
Comcast Stock Down 4.8%
Shares of CMCSA traded down $1.69 on Friday, reaching $33.68. The stock had a trading volume of 32,916,863 shares, compared to its average volume of 16,460,666. The firm has a market capitalization of $125.75 billion, a price-to-earnings ratio of 8.28, a price-to-earnings-growth ratio of 1.72 and a beta of 0.95. The company has a 50-day simple moving average of $35.04 and a 200-day simple moving average of $35.27. Comcast Corporation has a 12-month low of $31.44 and a 12-month high of $45.31. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65.
Comcast (NASDAQ:CMCSA - Get Free Report) last posted its earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.08. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The business had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $29.82 billion. During the same quarter in the previous year, the firm posted $1.04 EPS. The firm's revenue was down .6% on a year-over-year basis. Sell-side analysts predict that Comcast Corporation will post 4.33 EPS for the current year.
Comcast Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd were given a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a $1.32 annualized dividend and a yield of 3.92%. Comcast's dividend payout ratio is currently 32.43%.
Comcast Profile
(
Free Report)
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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