Legacy Financial Advisors Inc. Sells 2,005 Shares of Comcast Co. (NASDAQ:CMCSA)

Legacy Financial Advisors Inc. cut its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 4.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,595 shares of the cable giant’s stock after selling 2,005 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Comcast were worth $1,668,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Steph & Co. increased its stake in Comcast by 154.6% in the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after acquiring an additional 371 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in Comcast in the second quarter valued at approximately $27,000. OLD Point Trust & Financial Services N A bought a new position in Comcast in the fourth quarter valued at approximately $28,000. IAG Wealth Partners LLC increased its stake in Comcast by 204.7% in the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 522 shares during the last quarter. Finally, Pineridge Advisors LLC bought a new position in Comcast in the fourth quarter valued at approximately $32,000. 84.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Pivotal Research decreased their target price on shares of Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. StockNews.com lowered shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Friday, September 13th. Macquarie reiterated a “neutral” rating and set a $40.00 price target on shares of Comcast in a report on Wednesday, July 24th. The Goldman Sachs Group began coverage on shares of Comcast in a report on Tuesday, June 25th. They set a “buy” rating and a $44.00 price objective on the stock. Finally, Barclays dropped their price objective on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. One equities 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $45.78.

Comcast Trading Down 0.4 %

Shares of CMCSA stock opened at $40.11 on Friday. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66. The company has a 50-day simple moving average of $39.57 and a two-hundred day simple moving average of $39.66. The company has a market capitalization of $157.38 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 1.03 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last released its 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. The firm had revenue of $29.69 billion for the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.13 earnings per share. Research analysts anticipate that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Announces Dividend

The business 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 3.09%. The ex-dividend date is Wednesday, October 2nd. Comcast’s payout ratio is 32.80%.

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.