GM Advisory Group LLC Trims Stake in Comcast Co. (NASDAQ:CMCSA)

GM Advisory Group LLC trimmed its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 10.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,395 shares of the cable giant’s stock after selling 1,256 shares during the period. GM Advisory Group LLC’s holdings in Comcast were worth $407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Steph & Co. increased its position 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 during the period. Strategic Financial Concepts LLC purchased a new position in shares of Comcast in the 2nd quarter worth approximately $27,000. OLD Point Trust & Financial Services N A purchased a new position in shares of Comcast in the 4th quarter worth approximately $28,000. IAG Wealth Partners LLC grew its position in shares of Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after buying an additional 522 shares during the last quarter. Finally, Pineridge Advisors LLC purchased a new position in shares of Comcast in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $40.27 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16. The company has a 50 day simple moving average of $39.53 and a two-hundred day simple moving average of $39.68. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11. The stock has a market cap of $158.00 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 1.03 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $30.02 billion. During the same period in the previous year, the business posted $1.13 EPS. The business’s revenue was down 2.7% compared to the same quarter last year. As a group, analysts predict that Comcast Co. will post 4.23 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently announced 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 is Wednesday, October 2nd. Comcast’s dividend payout ratio is currently 32.80%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CMCSA shares. Macquarie reaffirmed a “neutral” rating and issued a $40.00 price objective on shares of Comcast in a research report on Wednesday, July 24th. Barclays cut their price objective on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. BNP Paribas downgraded shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 target price on the stock. in a research report on Tuesday, June 11th. Pivotal Research dropped their target price on shares of Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Evercore ISI dropped their target price on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Comcast presently has an average 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.