Comcast Corporation $CMCSA Position Decreased by Round Hill Asset Management

Key Points

• Round Hill Asset Management reduced its stake in Comcast Corporation by 4.0%, now holding 255,921 shares valued at approximately $9.44 million.
• Comcast has recently faced several analysts lowering their price targets, with the consensus rating remaining a "Hold" and a price target of $40.73.
• In addition to its stock performance, Comcast announced a quarterly dividend of $0.33 per share, reflecting a 3.9% dividend yield.

Round Hill Asset Management lowered its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 255,921 shares of the cable giant's stock after selling 10,580 shares during the quarter. Comcast makes up about 6.8% of Round Hill Asset Management's holdings, making the stock its 3rd largest holding. Round Hill Asset Management's holdings in Comcast were worth $9,443,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CMCSA. Advisor OS LLC increased its stake in Comcast by 33.2% during the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock worth $1,308,000 after acquiring an additional 8,841 shares during the last quarter. Resona Asset Management Co. Ltd. increased its stake in Comcast by 10.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant's stock worth $47,254,000 after acquiring an additional 118,839 shares during the last quarter. OMNI 360 Wealth Inc. purchased a new position in shares of Comcast during the first quarter worth $335,000. DAVENPORT & Co LLC boosted its position in shares of Comcast by 41.7% during the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock worth $157,766,000 after buying an additional 1,261,278 shares during the period. Finally, American Financial Group Inc. boosted its position in shares of Comcast by 29.0% during the first quarter. American Financial Group Inc. now owns 267,000 shares of the cable giant's stock worth $9,852,000 after buying an additional 60,000 shares during the period. Hedge funds and other institutional investors own 84.32% of the company's stock.

Analyst Ratings Changes

CMCSA has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price target on Comcast from $39.00 to $37.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Arete Research upgraded Comcast to a "hold" rating in a research report on Tuesday, July 8th. Citigroup lowered their price target on Comcast from $44.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, April 25th. BNP Paribas Exane lowered their price target on Comcast from $31.00 to $30.00 and set an "underperform" rating for the company in a research report on Friday, April 25th. Finally, Bernstein Bank decreased their target price on Comcast from $38.00 to $37.00 and set a "market perform" rating for the company in a report on Friday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $40.73.

Comcast Stock Performance

CMCSA traded up $0.4010 during trading on Friday, reaching $34.0010. The company's stock had a trading volume of 8,933,027 shares, compared to its average volume of 24,172,447. Comcast Corporation has a 52-week low of $31.03 and a 52-week high of $45.31. The company's fifty day moving average price is $34.23 and its 200-day moving average price is $34.76. The company has a market capitalization of $125.54 billion, a price-to-earnings ratio of 5.62, a price-to-earnings-growth ratio of 1.99 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 announced its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating 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 quarter in the previous year, the company earned $1.21 EPS. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company 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 dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a dividend yield of 3.9%. Comcast's payout ratio is 21.82%.

About Comcast

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.