Plato Investment Management Ltd Sells 27,637 Shares of Comcast Corporation $CMCSA

Key Points

• Plato Investment Management Ltd reduced its stake in Comcast Corporation by 17.7%, selling 27,637 shares and holding 128,451 shares valued at $4.79 million as of the latest SEC filing.
• Comcast's stock is trading at $33.67, with a market capitalization of $124.32 billion, and its latest quarterly earnings reported a 2.1% year-over-year revenue increase to $30.31 billion.
• The company has announced a quarterly dividend of $0.33 per share, set to be paid on October 22, with a current dividend yield of 3.9%.

Plato Investment Management Ltd cut its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 17.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 128,451 shares of the cable giant's stock after selling 27,637 shares during the period. Plato Investment Management Ltd's holdings in Comcast were worth $4,791,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Inlight Wealth Management LLC bought a new stake in shares of Comcast during the 1st quarter worth approximately $26,000. Abound Financial LLC acquired a new position in Comcast during the first quarter worth $29,000. Retirement Wealth Solutions LLC raised its position in Comcast by 126.9% during the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after acquiring an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC acquired a new stake in Comcast in the fourth quarter valued at $33,000. Finally, Global Wealth Strategies & Associates lifted its stake in Comcast by 203.4% in the first 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 last quarter. 84.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CMCSA shares. Sanford C. Bernstein cut their target price on shares of Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a research note on Wednesday. Moffett Nathanson boosted their target price on Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Benchmark reaffirmed a "buy" rating on shares of Comcast in a report on Friday, July 18th. Rosenblatt Securities lifted their price objective 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. Finally, Morgan Stanley dropped their price objective on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $40.56.

Comcast Price Performance

Comcast stock traded down $0.34 during trading hours on Friday, reaching $33.06. 23,842,060 shares of the stock were exchanged, compared to its average volume of 19,553,770. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a twelve month low of $31.03 and a twelve month high of $45.31. The company has a market cap of $122.06 billion, a P/E ratio of 5.46, a price-to-earnings-growth ratio of 2.00 and a beta of 0.93. The stock has a 50 day moving average of $33.79 and a two-hundred day moving average of $34.60.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly 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 the consensus estimate of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.21 EPS. Equities analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is presently 21.82%.

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.