United Asset Strategies Inc. Cuts Position in Comcast Co. (NASDAQ:CMCSA)

United Asset Strategies Inc. decreased its holdings in Comcast Co. (NASDAQ:CMCSA) by 76.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 13,973 shares of the cable giant’s stock after selling 45,547 shares during the period. United Asset Strategies Inc.’s holdings in Comcast were worth $547,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Gilbert & Cook Inc. grew its position in Comcast by 10.3% in the fourth quarter. Gilbert & Cook Inc. now owns 15,613 shares of the cable giant’s stock valued at $685,000 after acquiring an additional 1,459 shares in the last quarter. Fisher Asset Management LLC grew its position in Comcast by 5.3% in the fourth quarter. Fisher Asset Management LLC now owns 100,637 shares of the cable giant’s stock valued at $4,413,000 after acquiring an additional 5,108 shares in the last quarter. TCG Advisory Services LLC acquired a new stake in Comcast in the fourth quarter valued at approximately $224,000. Avidian Wealth Solutions LLC grew its position in Comcast by 6.6% in the fourth quarter. Avidian Wealth Solutions LLC now owns 13,361 shares of the cable giant’s stock valued at $586,000 after acquiring an additional 823 shares in the last quarter. Finally, Connecticut Wealth Management LLC grew its position in Comcast by 26.4% in the fourth quarter. Connecticut Wealth Management LLC now owns 5,857 shares of the cable giant’s stock valued at $257,000 after acquiring an additional 1,223 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

CMCSA has been the subject of several recent research reports. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Pivotal Research decreased their price target on shares of Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Seaport Res Ptn downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 24th. Finally, Evercore ISI decreased their price target on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $45.78.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $39.57 on Tuesday. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.30. The firm’s 50-day simple moving average is $39.17 and its 200 day simple moving average is $39.88. 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 cap of $155.26 billion, a P/E ratio of 10.47, a P/E/G ratio of 1.05 and a beta of 1.00.

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

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.31 per share. 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 payout ratio is currently 32.80%.

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.