1832 Asset Management L.P. Trims Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

1832 Asset Management L.P. cut its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,340,493 shares of the cable giant’s stock after selling 5,274 shares during the period. 1832 Asset Management L.P.’s holdings in Comcast were worth $52,494,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Steph & Co. lifted its stake in shares of Comcast by 154.6% in the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after acquiring an additional 371 shares during the period. Strategic Financial Concepts LLC acquired a new position in Comcast during the 2nd quarter worth approximately $27,000. OLD Point Trust & Financial Services N A purchased a new position in shares of Comcast during the 4th quarter worth approximately $28,000. IAG Wealth Partners LLC boosted its stake in shares of Comcast by 204.7% in the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after buying an additional 522 shares in the last quarter. Finally, Pineridge Advisors LLC acquired a new position in Comcast during the fourth quarter worth $32,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Trading Down 0.4 %

Shares of CMCSA stock opened at $40.11 on Monday. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.11. The company has a market capitalization of $157.38 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 1.03 and a beta of 1.01. The firm has a 50-day moving average price of $39.57 and a 200 day moving average price of $39.63. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16.

Comcast (NASDAQ:CMCSA) last announced 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 for the quarter, compared to the consensus estimate of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.13 earnings per share. Research analysts forecast that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders 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 dividend yield of 3.09%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s dividend payout ratio is currently 32.80%.

Analysts Set New Price Targets

CMCSA has been the subject of a number of recent analyst reports. KeyCorp reduced their target price on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. BNP Paribas cut shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price objective for the company. in a research note on Tuesday, June 11th. Pivotal Research lowered their target price on shares of Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Barclays reduced their price target on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Finally, Seaport Res Ptn downgraded Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $45.78.

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.