KCM Investment Advisors LLC Cuts Holdings in Comcast Co. (NASDAQ:CMCSA)

KCM Investment Advisors LLC lowered its holdings in Comcast Co. (NASDAQ:CMCSA) by 8.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,080 shares of the cable giant’s stock after selling 3,043 shares during the quarter. KCM Investment Advisors LLC’s holdings in Comcast were worth $1,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CMCSA. Norges Bank purchased a new stake in Comcast in the fourth quarter worth approximately $2,542,988,000. Capital World Investors boosted its stake in shares of Comcast by 17.0% in the 4th quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock worth $4,725,926,000 after buying an additional 15,625,543 shares during the last quarter. Ontario Teachers Pension Plan Board grew its holdings in shares of Comcast by 25,881.7% in the first quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock worth $470,391,000 after acquiring an additional 10,809,231 shares during the period. Price T Rowe Associates Inc. MD increased its position in Comcast by 41.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock valued at $1,214,512,000 after acquiring an additional 8,243,302 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Comcast by 80.9% in the first quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock valued at $457,007,000 after acquiring an additional 4,714,586 shares during the period. 84.32% of the stock is owned by institutional investors.

Comcast Stock Performance

Shares of NASDAQ:CMCSA opened at $39.57 on Friday. The firm has a fifty day simple moving average of $39.12 and a two-hundred day simple moving average of $39.94. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.30. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $155.26 billion, a P/E ratio of 10.47, a PEG ratio of 1.07 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. The business had revenue of $29.69 billion during the quarter, compared to analyst estimates of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the company earned $1.13 EPS. On average, analysts expect that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s dividend payout ratio (DPR) is currently 32.80%.

Analyst Ratings Changes

CMCSA has been the subject of a number of research reports. Barclays reduced their target price on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Evercore ISI reduced their price objective on Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 target price on shares of Comcast in a research report on Wednesday, July 24th. KeyCorp cut their price target on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Comcast has a consensus rating of “Hold” and a consensus target price of $45.78.

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.