Comcast Co. (NASDAQ:CMCSA) Shares Sold by Cohen Klingenstein LLC

Cohen Klingenstein LLC lessened its position in Comcast Co. (NASDAQ:CMCSA) by 8.1% during the first quarter, Holdings Channel reports. The fund owned 644,261 shares of the cable giant’s stock after selling 56,586 shares during the quarter. Comcast comprises approximately 1.0% of Cohen Klingenstein LLC’s investment portfolio, making the stock its 20th largest position. Cohen Klingenstein LLC’s holdings in Comcast were worth $27,929,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CMCSA. Steph & Co. increased its stake in Comcast by 154.6% during the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after buying an additional 371 shares during the period. OLD Point Trust & Financial Services N A acquired a new position in Comcast during the 4th quarter valued at about $28,000. Pineridge Advisors LLC acquired a new position in Comcast during the 4th quarter valued at about $32,000. Financial Synergies Wealth Advisors Inc. increased its stake in Comcast by 336.9% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock valued at $33,000 after buying an additional 593 shares during the period. Finally, Tennessee Valley Asset Management Partners acquired a new position in Comcast during the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CMCSA shares. Citigroup lowered their target price on shares of Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Benchmark reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Comcast in a research note on Monday, May 13th. Scotiabank lowered their price objective on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a research note on Friday, April 26th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a research note on Friday, April 26th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Comcast currently has an average rating of “Hold” and an average price target of $48.62.

Comcast Stock Performance

CMCSA stock opened at $38.69 on Tuesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market cap of $151.81 billion, a P/E ratio of 10.18, a P/E/G ratio of 0.96 and a beta of 1.00. The firm has a 50 day simple moving average of $38.79 and a 200 day simple moving average of $41.49. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.46.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, topping the consensus estimate of $0.98 by $0.06. The business had revenue of $30.06 billion during the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company posted $0.92 earnings per share. Research analysts anticipate that Comcast Co. will post 4.21 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Wednesday, July 3rd. Comcast’s dividend payout ratio is currently 32.80%.

Insider Buying and Selling

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the transaction, the insider now owns 2,000,000 shares of the company’s stock, valued at $6,380,000. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.26% of the stock is currently owned by corporate insiders.

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.