Wellington Management Group LLP Lowers Stake in Comcast Corporation $CMCSA

Key Points

• Wellington Management Group LLP reduced its stake in Comcast Corporation by 11.6%, selling 212,859 shares in the first quarter, leaving it with holdings worth $60,092,000.
• Comcast's latest quarterly earnings showed an EPS of $1.25, exceeding analysts' estimates by $0.07, with a revenue of $30.31 billion, marking a year-over-year increase of 2.1%.
• The company recently declared a quarterly dividend of $0.33, which equates to an annualized dividend yield of 3.9% and a payout ratio of 21.82%.

Wellington Management Group LLP decreased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 11.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,628,509 shares of the cable giant's stock after selling 212,859 shares during the period. Wellington Management Group LLP's holdings in Comcast were worth $60,092,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Inlight Wealth Management LLC acquired a new stake in Comcast during the first quarter worth approximately $26,000. Abound Financial LLC acquired a new stake in Comcast during the 1st quarter valued at approximately $29,000. Retirement Wealth Solutions LLC raised its holdings in Comcast by 126.9% in the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after acquiring an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new stake in Comcast during the fourth quarter valued at $33,000. Finally, Global Wealth Strategies & Associates grew its position in shares of Comcast by 203.4% during the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after buying an additional 600 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Performance

Comcast stock traded down $0.14 during mid-day trading on Monday, reaching $34.01. The company's stock had a trading volume of 17,147,074 shares, compared to its average volume of 23,977,274. The company has a market capitalization of $125.57 billion, a P/E ratio of 5.62, a PEG ratio of 2.05 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. The firm's fifty day moving average price is $34.19 and its two-hundred day moving average price is $34.77. Comcast Corporation has a 12-month low of $31.03 and a 12-month high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The firm had revenue of $30.31 billion for the quarter, compared to the consensus estimate of $29.81 billion. During the same quarter in the previous year, the business earned $1.21 earnings per share. The company's quarterly revenue was up 2.1% on a year-over-year basis. Sell-side analysts predict that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.9%. Comcast's dividend payout ratio (DPR) is 21.82%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CMCSA. Morgan Stanley cut their price objective on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Monday, August 4th. UBS Group dropped their price objective on Comcast from $40.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Rosenblatt Securities increased their price target on Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Barclays decreased their target price on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. Finally, Argus cut shares of Comcast from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. One equities research 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 company. According to MarketBeat.com, Comcast presently has a consensus rating of "Hold" and an average target price of $40.73.

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.