Reaves W H & Co. Inc. Has $73.53 Million Stock Holdings in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Reaves W H & Co. Inc. has reduced its stake in Comcast Corporation by 8.8%, selling 191,380 shares, and now holds approximately 1.9% of the company's stock.
• Several institutional investors, including Capital World Investors and Dodge & Cox, have increased their positions in Comcast, with institutional ownership now at 84.32%.
• Wall Street analysts have revised their target prices for Comcast downwards, with a consensus rating of "Hold" and an average target price of $40.73.

Reaves W H & Co. Inc. cut its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 8.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,992,699 shares of the cable giant's stock after selling 191,380 shares during the quarter. Comcast makes up 1.9% of Reaves W H & Co. Inc.'s investment portfolio, making the stock its 19th largest position. Reaves W H & Co. Inc. owned about 0.05% of Comcast worth $73,531,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CMCSA. Brighton Jones LLC increased its position in shares of 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 acquiring an additional 99,986 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Comcast by 11.5% during the fourth quarter. Invesco Ltd. now owns 45,175,969 shares of the cable giant's stock worth $1,695,454,000 after purchasing an additional 4,669,069 shares in the last quarter. Twin Capital Management Inc. grew its stake in shares of Comcast by 1.6% in the fourth quarter. Twin Capital Management Inc. now owns 134,512 shares of the cable giant's stock valued at $5,048,000 after buying an additional 2,156 shares in the last quarter. Canopy Partners LLC acquired a new position in Comcast during the 4th quarter worth approximately $206,000. Finally, FIL Ltd boosted its holdings in Comcast by 5.4% in the 4th quarter. FIL Ltd now owns 556,273 shares of the cable giant's stock worth $20,877,000 after acquiring an additional 28,527 shares during the period. Institutional investors and hedge funds own 84.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CMCSA shares. Argus cut shares of Comcast from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. UBS Group cut their price objective on Comcast from $40.00 to $36.00 and set a "neutral" rating on the stock in a research note on Friday, August 1st. Evercore ISI decreased their target price on Comcast from $44.00 to $40.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Wells Fargo & Company downgraded Comcast from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $37.00 to $31.00 in a report on Monday, April 14th. Finally, Moffett Nathanson upped their price target on Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $40.73.

Comcast Trading Down 1.5%

NASDAQ:CMCSA traded down $0.49 on Thursday, reaching $31.67. The company's stock had a trading volume of 24,955,561 shares, compared to its average volume of 22,320,210. Comcast Corporation has a 1-year low of $31.44 and a 1-year high of $45.31. The business's 50-day moving average price is $34.61 and its two-hundred day moving average price is $34.99. The firm has a market cap of $118.25 billion, a PE ratio of 5.23, a PEG ratio of 1.93 and a beta of 0.92. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91.

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

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. Comcast's dividend payout ratio (DPR) is 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.