Paces Ferry Wealth Advisors LLC Lowers Stake in Comcast Co. (NASDAQ:CMCSA)

Paces Ferry Wealth Advisors LLC lessened its holdings in Comcast Co. (NASDAQ:CMCSA) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,705 shares of the cable giant’s stock after selling 581 shares during the period. Paces Ferry Wealth Advisors LLC’s holdings in Comcast were worth $419,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of CMCSA. Capital World Investors grew its position in shares of Comcast by 17.0% in the fourth quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock valued at $4,725,926,000 after purchasing an additional 15,625,543 shares during the period. Ontario Teachers Pension Plan Board boosted its holdings in Comcast by 25,881.7% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock worth $470,391,000 after buying an additional 10,809,231 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Comcast by 41.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock worth $1,214,512,000 after buying an additional 8,243,302 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Comcast by 80.9% during the first quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock valued at $457,007,000 after acquiring an additional 4,714,586 shares during the last quarter. Finally, Morningstar Investment Services LLC lifted its position in shares of Comcast by 116.8% in the fourth quarter. Morningstar Investment Services LLC now owns 5,145,838 shares of the cable giant’s stock valued at $227,034,000 after acquiring an additional 2,772,190 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Up 1.4 %

Shares of NASDAQ:CMCSA opened at $39.82 on Thursday. The company has a market capitalization of $156.24 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 1.03 and a beta of 1.01. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.11. The business has a 50-day moving average price of $39.48 and a 200 day moving average price of $39.67. 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 (NASDAQ:CMCSA) last announced 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 net margin of 12.46% and a return on equity of 20.17%. The business had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. During the same period last year, the business earned $1.13 earnings per share. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. Sell-side analysts expect that Comcast Co. will post 4.23 EPS for the current year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s dividend payout ratio (DPR) is 32.80%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. KeyCorp reduced their price objective on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Rosenblatt Securities reiterated a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research report on Wednesday, July 24th. Macquarie restated a “neutral” rating and set a $40.00 price target on shares of Comcast in a research report on Wednesday, July 24th. Seaport Res Ptn downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. Finally, Barclays decreased their target price on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $45.78.

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.