Turtle Creek Wealth Advisors LLC Cuts Stock Position in Comcast Corporation (NASDAQ:CMCSA)

Turtle Creek Wealth Advisors LLC reduced its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 23.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,095 shares of the cable giant's stock after selling 16,475 shares during the quarter. Turtle Creek Wealth Advisors LLC's holdings in Comcast were worth $2,033,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Key Financial Inc lifted its stake in Comcast by 7.4% in the first quarter. Key Financial Inc now owns 7,044 shares of the cable giant's stock worth $260,000 after acquiring an additional 487 shares during the period. Prudent Man Advisors LLC lifted its stake in Comcast by 2.3% in the first quarter. Prudent Man Advisors LLC now owns 19,229 shares of the cable giant's stock worth $710,000 after acquiring an additional 425 shares during the period. Marks Group Wealth Management Inc lifted its stake in Comcast by 3.0% in the first quarter. Marks Group Wealth Management Inc now owns 57,732 shares of the cable giant's stock worth $2,130,000 after acquiring an additional 1,670 shares during the period. Secured Retirement Advisors LLC purchased a new stake in Comcast in the first quarter worth about $1,282,000. Finally, CWM LLC lifted its stake in Comcast by 6.2% in the first quarter. CWM LLC now owns 1,039,361 shares of the cable giant's stock worth $38,352,000 after acquiring an additional 60,566 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Trading Up 0.9%

Shares of CMCSA stock traded up $0.30 on Thursday, hitting $34.70. 17,542,010 shares of the stock traded hands, compared to its average volume of 21,926,846. The firm's 50-day moving average price is $35.00 and its two-hundred day moving average price is $35.35. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $129.56 billion, a PE ratio of 8.53, a PEG ratio of 1.66 and a beta of 0.95. Comcast Corporation has a twelve month low of $31.44 and a twelve month high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.08. The firm had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $29.82 billion. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The company's revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS. As a group, analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be issued a $0.33 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $1.32 annualized dividend and a yield of 3.80%. Comcast's dividend payout ratio (DPR) is currently 32.43%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Evercore ISI reduced their price objective on shares of Comcast from $44.00 to $40.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. cut their price objective on shares of Comcast from $39.00 to $37.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Bernstein Bank cut their price objective on shares of Comcast from $38.00 to $37.00 and set a "market perform" rating on the stock in a report on Friday, April 25th. Morgan Stanley set a $40.00 price objective on shares of Comcast and gave the company an "equal weight" rating in a report on Wednesday. Finally, Oppenheimer cut their price objective on shares of Comcast from $55.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Three equities 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 issued a strong buy rating to the stock. According to data from MarketBeat, Comcast presently has an average rating of "Hold" and a consensus price target of $41.10.

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.