Summit Global Investments Sells 18,824 Shares of Comcast Co. (NASDAQ:CMCSA)

Summit Global Investments lowered its stake in shares of Comcast Co. (NASDAQ:CMCSA - Free Report) by 49.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,486 shares of the cable giant's stock after selling 18,824 shares during the quarter. Summit Global Investments' holdings in Comcast were worth $719,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Sculati Wealth Management LLC boosted its position in shares of Comcast by 0.9% during the 4th 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 in the last quarter. Five Oceans Advisors boosted its position in shares of Comcast by 2.5% during the 4th quarter. Five Oceans Advisors now owns 12,336 shares of the cable giant's stock valued at $463,000 after purchasing an additional 298 shares in the last quarter. Kovack Advisors Inc. boosted its position in shares of Comcast by 1.1% during the 4th quarter. Kovack Advisors Inc. now owns 26,470 shares of the cable giant's stock valued at $993,000 after purchasing an additional 300 shares in the last quarter. Beck Mack & Oliver LLC boosted its position in shares of Comcast by 2.0% during the 4th quarter. Beck Mack & Oliver LLC now owns 15,539 shares of the cable giant's stock valued at $583,000 after purchasing an additional 300 shares in the last quarter. Finally, Avitas Wealth Management LLC boosted its position in shares of Comcast by 0.6% during the 4th quarter. Avitas Wealth Management LLC now owns 58,490 shares of the cable giant's stock valued at $2,195,000 after purchasing an additional 328 shares in the last quarter. Institutional investors own 84.32% of the company's stock.

Comcast Stock Performance

NASDAQ:CMCSA traded down $0.22 during trading hours on Thursday, reaching $34.22. The stock had a trading volume of 18,842,245 shares, compared to its average volume of 22,066,916. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a 50 day simple moving average of $34.43 and a 200 day simple moving average of $36.48. Comcast Co. has a 12-month low of $31.44 and a 12-month high of $45.31. The stock has a market cap of $127.77 billion, a P/E ratio of 8.25, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. The business had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $29.82 billion. During the same period last year, the business posted $1.04 earnings per share. The business's revenue for the quarter was down .6% on a year-over-year basis. On average, research analysts forecast that Comcast Co. will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Wednesday, July 2nd. Comcast's dividend payout ratio is currently 32.43%.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of a number of research reports. UBS Group set a $44.50 price target on Comcast in a research note on Friday, April 25th. KeyCorp dropped their price target on Comcast from $47.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $36.00 price target on shares of Comcast in a research note on Monday, April 28th. BNP Paribas downgraded Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 price target on the stock. in a research note on Thursday, April 10th. Finally, Morgan Stanley set a $37.00 price target on Comcast in a research note on Friday, April 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Comcast has a consensus rating of "Moderate Buy" and a consensus target price of $42.10.

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.