Wealthquest Corp Cuts Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Wealthquest Corp reduced its position in shares of Comcast Co. (NASDAQ:CMCSA) by 8.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 6,336 shares of the cable giant’s stock after selling 606 shares during the period. Wealthquest Corp’s holdings in Comcast were worth $248,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bollard Group LLC grew its stake in shares of Comcast by 0.7% during the 4th quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock worth $1,622,000 after purchasing an additional 244 shares during the period. Tortoise Investment Management LLC grew its holdings in shares of Comcast by 4.5% in the 4th quarter. Tortoise Investment Management LLC now owns 5,801 shares of the cable giant’s stock worth $254,000 after acquiring an additional 249 shares during the period. Greenwich Wealth Management LLC raised its holdings in Comcast by 2.7% during the second quarter. Greenwich Wealth Management LLC now owns 9,754 shares of the cable giant’s stock worth $382,000 after purchasing an additional 261 shares during the last quarter. Verum Partners LLC grew its holdings in Comcast by 4.9% in the second quarter. Verum Partners LLC now owns 5,663 shares of the cable giant’s stock valued at $222,000 after purchasing an additional 267 shares during the last quarter. Finally, Mcdonald Partners LLC increased its holdings in Comcast by 1.4% during the 1st quarter. Mcdonald Partners LLC now owns 19,591 shares of the cable giant’s stock valued at $849,000 after acquiring an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CMCSA shares. Barclays cut their price objective 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. BNP Paribas downgraded Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price objective for the company. in a research report on Tuesday, June 11th. KeyCorp reduced their target price on Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Macquarie restated a “neutral” rating and issued a $40.00 target price on shares of Comcast in a report on Wednesday, July 24th. Finally, Pivotal Research decreased their price target on shares of Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.58.

Comcast Trading Up 0.3 %

Shares of CMCSA opened at $41.77 on Tuesday. 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 Co. has a 1-year low of $36.43 and a 1-year high of $47.11. The stock has a market capitalization of $163.89 billion, a P/E ratio of 11.05, a P/E/G ratio of 1.08 and a beta of 1.01. The business’s 50-day moving average price is $39.73 and its 200 day moving average price is $39.56.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results 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 return on equity of 20.17% and a net margin of 12.46%. The business had revenue of $29.69 billion for the quarter, compared to the consensus estimate of $30.02 billion. During the same quarter in the previous year, the company posted $1.13 earnings per share. Comcast’s revenue for the quarter was down 2.7% compared to the same quarter last year. Analysts expect that Comcast Co. will post 4.23 earnings per share for the current 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 issued a $0.31 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 2.97%. Comcast’s dividend payout ratio is currently 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.