Richardson Financial Services Inc. Trims Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Richardson Financial Services Inc. lessened its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 26.7% in the second quarter, HoldingsChannel reports. The firm owned 1,054 shares of the cable giant’s stock after selling 384 shares during the quarter. Richardson Financial Services Inc.’s holdings in Comcast were worth $41,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CMCSA. Capital World Investors boosted its holdings in shares of Comcast by 7.4% during the first quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock worth $5,015,737,000 after purchasing an additional 7,929,963 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Comcast by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 38,329,384 shares of the cable giant’s stock valued at $1,500,722,000 after purchasing an additional 1,000,626 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Comcast by 41.7% during the first 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 during the period. Harris Associates L P boosted its stake in Comcast by 10.9% in the 4th quarter. Harris Associates L P now owns 18,873,787 shares of the cable giant’s stock worth $827,616,000 after buying an additional 1,854,671 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in Comcast by 3.4% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 11,304,304 shares of the cable giant’s stock valued at $495,694,000 after buying an additional 368,685 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Up 1.1 %

Shares of NASDAQ:CMCSA opened at $40.27 on Friday. The company has a 50 day moving average of $39.53 and a two-hundred day moving average of $39.68. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11. 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 company has a market capitalization of $158.00 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 1.03 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The firm 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 firm posted $1.13 EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, analysts forecast that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s dividend payout ratio (DPR) is 32.80%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Macquarie reiterated a “neutral” rating and set a $40.00 price objective on shares of Comcast in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Seaport Res Ptn downgraded Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. KeyCorp cut 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. Finally, StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $45.78.

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.