Comcast Co. (NASDAQ:CMCSA) Position Cut by American Trust

American Trust reduced its holdings in Comcast Co. (NASDAQ:CMCSA) by 5.3% during the 2nd quarter, Holdings Channel reports. The fund owned 94,436 shares of the cable giant’s stock after selling 5,309 shares during the quarter. American Trust’s holdings in Comcast were worth $3,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Steph & Co. raised its stake in shares of Comcast by 154.6% during the first 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 position in Comcast during the 4th quarter valued at about $28,000. Fairscale Capital LLC bought a new stake in shares of Comcast during the 2nd quarter worth about $26,000. Pineridge Advisors LLC bought a new position in Comcast during the 4th quarter valued at $32,000. Finally, Financial Synergies Wealth Advisors Inc. increased its position in shares of Comcast by 336.9% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock valued at $33,000 after purchasing an additional 593 shares during the period. Institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

NASDAQ CMCSA 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 firm has a market capitalization of $163.62 billion, a price-to-earnings ratio of 11.03, a price-to-earnings-growth ratio of 1.08 and a beta of 1.01. The company has a 50 day simple moving average of $39.80 and a 200-day simple moving average of $39.55. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates 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%. 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 business posted $1.13 earnings per share. Equities research analysts predict that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

Analysts Set New Price Targets

CMCSA has been the subject of several research analyst reports. Seaport Res Ptn lowered Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. Evercore ISI cut their price target on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a research note on Wednesday, July 24th. Barclays cut their target price on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Finally, Macquarie restated a “neutral” rating and issued a $40.00 price target on shares of Comcast in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.