Prime Capital Investment Advisors LLC Sells 13,311 Shares of Comcast Corporation $CMCSA

Key Points

• Prime Capital Investment Advisors LLC has reduced its stake in Comcast Corporation by 24.4%, selling 13,311 shares, resulting in a current holding of 41,200 shares valued at approximately $1,470,000.
• Comcast's latest earnings report showed a net revenue of $30.31 billion for the quarter, exceeding analyst expectations, while the company also announced a quarterly dividend of $0.33 per share.
• As of now, 84.32% of Comcast's stock is owned by institutional investors, indicating significant institutional confidence in the company.

Prime Capital Investment Advisors LLC reduced its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 24.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,200 shares of the cable giant's stock after selling 13,311 shares during the period. Prime Capital Investment Advisors LLC's holdings in Comcast were worth $1,470,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted 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 valued at $6,240,000 after acquiring an additional 99,986 shares during the last quarter. Miracle Mile Advisors LLC boosted its holdings in Comcast by 32.7% in the first quarter. Miracle Mile Advisors LLC now owns 13,035 shares of the cable giant's stock valued at $481,000 after acquiring an additional 3,213 shares during the last quarter. Simplicity Wealth LLC boosted its holdings in Comcast by 446.0% in the first quarter. Simplicity Wealth LLC now owns 43,949 shares of the cable giant's stock valued at $1,622,000 after acquiring an additional 35,900 shares during the last quarter. Fiduciary Financial Group LLC bought a new stake in Comcast in the first quarter valued at approximately $381,000. Finally, Accurate Wealth Management LLC boosted its holdings in Comcast by 11.8% in the first quarter. Accurate Wealth Management LLC now owns 14,839 shares of the cable giant's stock valued at $500,000 after acquiring an additional 1,561 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $30.77 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a twelve month low of $30.30 and a twelve month high of $45.31. The stock's 50 day moving average is $32.60 and its 200-day moving average is $34.05. The firm has a market capitalization of $113.61 billion, a price-to-earnings ratio of 5.09, a PEG ratio of 1.82 and a beta of 0.94.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its 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. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The company had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. During the same period in the prior year, the firm earned $1.21 earnings per share. Comcast's revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently commented on the company. UBS Group set a $43.00 target price on Comcast in a report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft reduced their target price on Comcast from $46.00 to $44.00 and set a "buy" rating on the stock in a report on Monday. Weiss Ratings restated a "hold (c)" rating on shares of Comcast in a report on Saturday, September 27th. Royal Bank Of Canada started coverage on Comcast in a report on Monday, September 8th. They set a "sector perform" rating and a $38.00 price target on the stock. Finally, KeyCorp cut their price target on Comcast from $45.00 to $43.00 and set an "overweight" rating on the stock in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $39.94.

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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