Oakview Capital Management L.P. Sells 58,647 Shares of Comcast Co. (NASDAQ:CMCSA)

Oakview Capital Management L.P. lowered its position in shares of Comcast Co. (NASDAQ:CMCSA) by 77.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 17,206 shares of the cable giant’s stock after selling 58,647 shares during the quarter. Comcast makes up about 2.1% of Oakview Capital Management L.P.’s holdings, making the stock its 15th biggest holding. Oakview Capital Management L.P.’s holdings in Comcast were worth $674,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new position in Comcast during the 2nd quarter valued at about $3,587,000. The Manufacturers Life Insurance Company increased its holdings in Comcast by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,338,254 shares of the cable giant’s stock valued at $169,886,000 after purchasing an additional 159,194 shares during the period. MBB Public Markets I LLC purchased a new position in Comcast during the 2nd quarter valued at about $11,075,000. Darsana Capital Partners LP increased its holdings in Comcast by 26.7% during the 2nd quarter. Darsana Capital Partners LP now owns 9,500,000 shares of the cable giant’s stock valued at $372,020,000 after purchasing an additional 2,000,000 shares during the period. Finally, DoubleLine ETF Adviser LP increased its holdings in Comcast by 5.2% during the 2nd quarter. DoubleLine ETF Adviser LP now owns 95,688 shares of the cable giant’s stock valued at $3,747,000 after purchasing an additional 4,687 shares during the period. Institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Macquarie reiterated a “neutral” rating and set a $40.00 target price on shares of Comcast in a report on Wednesday, July 24th. Pivotal Research reduced their target price on Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Seaport Res Ptn downgraded Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. Rosenblatt Securities restated a “neutral” rating and issued a $45.00 price target on shares of Comcast in a research note on Wednesday, July 24th. Finally, BNP Paribas downgraded Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target on the stock. in a research note on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $45.58.

Comcast Price Performance

NASDAQ CMCSA opened at $41.64 on Friday. The business’s fifty day moving average price is $39.69 and its 200-day moving average price is $39.62. The stock has a market capitalization of $163.38 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 1.08 and a beta of 1.01. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. The firm had revenue of $29.69 billion for the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 EPS. On average, equities analysts predict that Comcast Co. will post 4.23 earnings per share for the current year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a dividend yield of 2.98%. Comcast’s payout ratio is 32.80%.

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.