Cetera Investment Advisers Sells 52,998 Shares of Comcast Co. (NASDAQ:CMCSA)

Cetera Investment Advisers lessened its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 4.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,059,442 shares of the cable giant’s stock after selling 52,998 shares during the quarter. Cetera Investment Advisers’ holdings in Comcast were worth $41,488,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CMCSA. Steph & Co. increased its holdings in Comcast by 154.6% during the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after purchasing an additional 371 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in Comcast during the 4th quarter valued at $28,000. Fairscale Capital LLC acquired a new stake in Comcast during the 2nd quarter valued at $26,000. Pineridge Advisors LLC acquired a new stake in shares of Comcast in the 4th quarter valued at $32,000. Finally, Financial Synergies Wealth Advisors Inc. increased its stake in shares of Comcast by 336.9% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock valued at $33,000 after buying an additional 593 shares during the period. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Down 0.2 %

CMCSA stock opened at $41.70 on Wednesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $163.62 billion, a P/E ratio of 11.03, a P/E/G ratio of 1.08 and a beta of 1.01. The business has a 50-day moving average of $39.80 and a 200-day moving average of $39.55. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.11.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. The company had revenue of $29.69 billion during 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%. Comcast’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 earnings per share. On average, sell-side analysts anticipate that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given 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 yield of 2.97%. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CMCSA shares. Barclays lowered their target price on Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Comcast in a research note on Wednesday, July 24th. Macquarie reaffirmed a “neutral” rating and set a $40.00 price objective on shares of Comcast in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Comcast presently has a consensus rating of “Hold” and a consensus price target of $45.58.

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.