Rafferty Asset Management LLC Decreases Holdings in Comcast Corporation $CMCSA

Key Points

• Rafferty Asset Management LLC has reduced its holdings in Comcast Corporation by 9.3%, selling 61,952 shares and now holding a total of 605,616 shares valued at approximately $22.3 million.
• Comcast has recently announced a quarterly dividend of $0.33, which will be paid on October 22nd, reflecting an annualized yield of 3.9%.
• Equities analysts maintain a "Hold" consensus rating for Comcast, with a target price averaging $40.73, although some firms have adjusted their ratings and target prices recently.

Rafferty Asset Management LLC cut its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 9.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 605,616 shares of the cable giant's stock after selling 61,952 shares during the period. Rafferty Asset Management LLC's holdings in Comcast were worth $22,347,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sculati Wealth Management LLC boosted its holdings in Comcast by 0.9% in the fourth quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant's stock valued at $1,156,000 after purchasing an additional 285 shares during the period. Toth Financial Advisory Corp boosted its holdings in Comcast by 9.0% in the first quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant's stock valued at $134,000 after purchasing an additional 300 shares during the period. Clearstead Trust LLC boosted its holdings in Comcast by 5.2% in the first quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant's stock valued at $227,000 after purchasing an additional 305 shares during the period. United Asset Strategies Inc. boosted its holdings in Comcast by 2.2% in the first quarter. United Asset Strategies Inc. now owns 14,075 shares of the cable giant's stock valued at $519,000 after purchasing an additional 308 shares during the period. Finally, Moors & Cabot Inc. lifted its holdings in Comcast by 0.6% during the 1st quarter. Moors & Cabot Inc. now owns 54,163 shares of the cable giant's stock worth $1,999,000 after buying an additional 310 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Performance

Shares of Comcast stock traded up $0.40 on Friday, hitting $33.97. The stock had a trading volume of 16,719,253 shares, compared to its average volume of 21,455,062. Comcast Corporation has a 52-week low of $31.03 and a 52-week high of $45.31. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The stock has a market cap of $125.42 billion, a price-to-earnings ratio of 5.61, a P/E/G ratio of 2.03 and a beta of 0.92. The company's 50 day moving average price is $34.14 and its 200 day moving average price is $34.74.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The business had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. During the same period in the previous year, the business earned $1.21 EPS. The business's quarterly revenue was up 2.1% on a year-over-year basis. On average, research analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 3.9%. Comcast's payout ratio is presently 21.82%.

Analyst Ratings Changes

A number of brokerages have issued reports on CMCSA. Arete Research raised Comcast to a "hold" rating in a report on Tuesday, July 8th. Barclays decreased their price target on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Scotiabank lifted their price target on Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. Rosenblatt Securities lifted their price target on Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Finally, Morgan Stanley decreased their price target on Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Comcast has a consensus rating of "Hold" and a consensus target price of $40.73.

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.