Creative Planning Cuts Stock Position in Comcast Co. (NASDAQ:CMCSA)

Creative Planning lowered its holdings in Comcast Co. (NASDAQ:CMCSA) by 10.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 934,581 shares of the cable giant’s stock after selling 113,356 shares during the period. Creative Planning’s holdings in Comcast were worth $36,598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Aviso Wealth Management raised its stake in shares of Comcast by 44.6% in the second quarter. Aviso Wealth Management now owns 21,731 shares of the cable giant’s stock valued at $851,000 after buying an additional 6,698 shares during the period. Ascent Group LLC raised its stake in shares of Comcast by 6.6% in the second quarter. Ascent Group LLC now owns 62,262 shares of the cable giant’s stock valued at $2,438,000 after buying an additional 3,834 shares during the period. Bontempo Ohly Capital Mgmt LLC raised its stake in shares of Comcast by 0.8% in the second quarter. Bontempo Ohly Capital Mgmt LLC now owns 96,370 shares of the cable giant’s stock valued at $3,774,000 after buying an additional 734 shares during the period. SkyView Investment Advisors LLC raised its stake in shares of Comcast by 14.9% in the second quarter. SkyView Investment Advisors LLC now owns 11,821 shares of the cable giant’s stock valued at $463,000 after buying an additional 1,532 shares during the period. Finally, Kathmere Capital Management LLC raised its stake in shares of Comcast by 18.0% in the second quarter. Kathmere Capital Management LLC now owns 13,174 shares of the cable giant’s stock valued at $516,000 after buying an additional 2,010 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analysts Set New Price Targets

CMCSA has been the topic of several research reports. Evercore ISI lowered their target price on Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Macquarie reiterated a “neutral” rating and set a $40.00 price objective on shares of Comcast in a research note on Wednesday, July 24th. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 price objective on shares of Comcast in a research note on Wednesday, July 24th. Barclays decreased their price objective on Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Finally, Pivotal Research decreased their price objective on Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $45.58.

Comcast Price Performance

Comcast stock opened at $41.64 on Monday. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11. The business has a 50-day simple moving average of $39.69 and a 200 day simple moving average of $39.57. 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 $163.38 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 1.08 and a beta of 1.01.

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, topping analysts’ consensus estimates of $1.12 by $0.09. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The firm had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. During the same period in the prior year, the business earned $1.13 EPS. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, research analysts forecast 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. Stockholders of record on Wednesday, October 2nd will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s payout ratio is currently 32.80%.

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.