Wolff Wiese Magana LLC Cuts Position in Comcast Corporation (NASDAQ:CMCSA)

Wolff Wiese Magana LLC cut its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 93.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,836 shares of the cable giant's stock after selling 24,679 shares during the quarter. Wolff Wiese Magana LLC's holdings in Comcast were worth $68,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CMCSA. Norges Bank acquired a new position in shares of Comcast in the 4th quarter valued at $3,835,226,000. Raymond James Financial Inc. purchased a new position in shares of Comcast in the fourth quarter valued at approximately $743,681,000. Amundi boosted its position in Comcast by 147.9% in the 4th quarter. Amundi now owns 24,086,671 shares of the cable giant's stock valued at $895,499,000 after buying an additional 14,369,056 shares during the period. Capital World Investors grew its stake in Comcast by 8.6% during the 4th quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock worth $5,317,167,000 after purchasing an additional 11,255,683 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Comcast by 12.0% in the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock valued at $1,890,027,000 after acquiring an additional 5,402,377 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Price Performance

Comcast stock traded up $0.06 during midday trading on Monday, reaching $34.59. 27,939,498 shares of the company were exchanged, compared to its average volume of 22,001,620. The firm's 50-day simple moving average is $34.50 and its 200-day simple moving average is $35.77. Comcast Corporation has a 1 year low of $31.44 and a 1 year high of $45.31. The company has a market capitalization of $129.15 billion, a price-to-earnings ratio of 8.50, a P/E/G ratio of 1.69 and a beta of 0.95. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. The firm had revenue of $29.89 billion during 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%. Comcast's revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.04 EPS. On average, analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have weighed in on CMCSA. Wells Fargo & Company cut shares of Comcast from an "equal weight" rating to an "underweight" rating and cut their price objective for the stock from $37.00 to $31.00 in a report on Monday, April 14th. Citigroup reduced their price target on shares of Comcast from $44.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Morgan Stanley set a $37.00 price objective on Comcast in a report on Friday, April 25th. Rosenblatt Securities reissued a "neutral" rating and issued a $36.00 target price on shares of Comcast in a research report on Monday, April 28th. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $44.50 price target (down previously from $45.00) on shares of Comcast in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, Comcast currently 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.