Comcast Co. (NASDAQ:CMCSA) Shares Sold by First City Capital Management Inc.

First City Capital Management Inc. reduced its position in Comcast Co. (NASDAQ:CMCSA) by 34.8% in the 2nd quarter, Holdings Channel reports. The firm owned 9,362 shares of the cable giant’s stock after selling 5,000 shares during the quarter. First City Capital Management Inc.’s holdings in Comcast were worth $367,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brevan Howard Capital Management LP acquired a new stake in shares of Comcast in the fourth quarter valued at approximately $2,056,000. Hotchkis & Wiley Capital Management LLC increased its stake in shares of 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 worth $495,694,000 after acquiring an additional 368,685 shares during the last quarter. Capital Investment Advisors LLC boosted its position in shares of Comcast by 4.5% during the 2nd quarter. Capital Investment Advisors LLC now owns 36,027 shares of the cable giant’s stock valued at $1,411,000 after acquiring an additional 1,550 shares during the last quarter. First Hawaiian Bank grew its holdings in shares of Comcast by 8.9% in the second quarter. First Hawaiian Bank now owns 191,846 shares of the cable giant’s stock valued at $7,513,000 after purchasing an additional 15,664 shares during the period. Finally, Gilbert & Cook Inc. increased its position in Comcast by 10.3% during the fourth quarter. Gilbert & Cook Inc. now owns 15,613 shares of the cable giant’s stock worth $685,000 after purchasing an additional 1,459 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CMCSA shares. StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 13th. BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target on the stock. in a research note on Tuesday, June 11th. Deutsche Bank Aktiengesellschaft cut their price objective on Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. 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 report on Thursday, July 25th. Finally, Evercore ISI dropped their price target on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $45.78.

Comcast Stock Down 0.4 %

Shares of NASDAQ:CMCSA opened at $40.11 on Friday. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.11. The firm’s 50 day moving average price is $39.57 and its 200 day moving average price is $39.65. 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 stock has a market cap of $157.38 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 1.03 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data 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. The business had revenue of $29.69 billion during 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 revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.13 EPS. As a group, equities research analysts predict that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.09%. Comcast’s payout ratio is currently 32.80%.

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.