Triangle Securities Wealth Management Decreases Position in Comcast Co. (NASDAQ:CMCSA)

Triangle Securities Wealth Management trimmed its position in Comcast Co. (NASDAQ:CMCSA - Free Report) by 34.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 15,576 shares of the cable giant's stock after selling 8,277 shares during the period. Triangle Securities Wealth Management's holdings in Comcast were worth $575,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in CMCSA. Sculati Wealth Management LLC grew 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 acquiring an additional 285 shares during the period. Kovack Advisors Inc. lifted its stake in Comcast by 1.1% in the fourth 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 during the last quarter. Beck Mack & Oliver LLC grew its holdings in Comcast by 2.0% during the fourth 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 during the period. Avitas Wealth Management LLC increased its position in Comcast by 0.6% in the fourth quarter. Avitas Wealth Management LLC now owns 58,490 shares of the cable giant's stock worth $2,195,000 after buying an additional 328 shares during the last quarter. Finally, Spinnaker Trust raised its stake in shares of Comcast by 0.9% in the fourth quarter. Spinnaker Trust now owns 36,306 shares of the cable giant's stock valued at $1,363,000 after buying an additional 340 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CMCSA has been the subject of several research reports. Wells Fargo & Company downgraded Comcast from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $37.00 to $31.00 in a research note on Monday, April 14th. BNP Paribas lowered shares of Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 target price for the company. in a research report on Thursday, April 10th. Wall Street Zen raised shares of Comcast from a "buy" rating to a "strong-buy" rating in a research report on Thursday, February 27th. KeyCorp dropped their price target on shares of Comcast from $47.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Finally, Barclays reduced their price objective on shares of Comcast from $37.00 to $35.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Comcast presently has a consensus rating of "Moderate Buy" and an average target price of $42.10.

Comcast Price Performance

Shares of NASDAQ:CMCSA traded up $0.48 on Friday, hitting $34.70. The company's stock had a trading volume of 13,753,001 shares, compared to its average volume of 22,033,762. The company has a market capitalization of $129.56 billion, a PE ratio of 8.36, a PEG ratio of 1.78 and a beta of 0.97. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.68. The company has a 50-day simple moving average of $34.43 and a 200 day simple moving average of $36.48. Comcast Co. has a 1 year low of $31.44 and a 1 year high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.08. The business had revenue of $29.89 billion during the quarter, compared to analyst estimates of $29.82 billion. Comcast had a net margin of 13.09% and a return on equity of 19.98%. Comcast's revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $1.04 earnings per share. Sell-side 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. Investors of record on Wednesday, July 2nd will be paid a $0.33 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.80%. Comcast's dividend payout ratio is presently 32.43%.

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.