Wellington Management Group LLP Decreases Stake in Comcast Co. (NASDAQ:CMCSA)

Wellington Management Group LLP trimmed its position in shares of Comcast Co. (NASDAQ:CMCSA - Free Report) by 71.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,841,368 shares of the cable giant's stock after selling 4,526,861 shares during the period. Wellington Management Group LLP's holdings in Comcast were worth $69,107,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of CMCSA. Promus Capital LLC acquired a new position in shares of Comcast in the fourth quarter valued at $25,000. Roxbury Financial LLC acquired a new position in Comcast in the 4th quarter valued at about $27,000. Wingate Wealth Advisors Inc. acquired a new position in Comcast in the 4th quarter valued at about $28,000. Mpwm Advisory Solutions LLC acquired a new position in Comcast in the 4th quarter valued at about $33,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Comcast in the 4th quarter valued at about $36,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CMCSA has been the topic of several research reports. JPMorgan Chase & Co. decreased their target price on Comcast from $45.00 to $39.00 and set a "neutral" rating on the stock in a research report on Friday, January 31st. Morgan Stanley set a $37.00 price target on shares of Comcast in a research note on Friday, April 25th. Macquarie decreased their target price on shares of Comcast from $42.00 to $36.00 and set a "neutral" rating on the stock in a research report on Friday, January 31st. BNP Paribas lowered shares of Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 target price on the stock. in a research report on Thursday, April 10th. Finally, Argus downgraded Comcast from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.10.

Comcast Stock Up 0.9%

CMCSA traded up $0.30 during trading on Friday, hitting $34.58. 31,652,126 shares of the company's stock were exchanged, compared to its average volume of 22,004,942. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09. The business's 50 day moving average is $34.64 and its two-hundred day moving average is $36.73. Comcast Co. has a fifty-two week low of $31.44 and a fifty-two week high of $45.31. The stock has a market cap of $129.11 billion, a P/E ratio of 8.33, a PEG ratio of 1.78 and a beta of 0.97.

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

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Wednesday, July 2nd. Comcast's dividend payout ratio (DPR) is presently 32.43%.

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.