Gateway Advisory LLC Sells 493 Shares of Comcast Co. (NASDAQ:CMCSA)

Gateway Advisory LLC lowered its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 3.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,014 shares of the cable giant’s stock after selling 493 shares during the period. Gateway Advisory LLC’s holdings in Comcast were worth $470,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors lifted its stake in shares of Comcast by 7.4% during the 1st quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock worth $5,015,737,000 after buying an additional 7,929,963 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Comcast by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 38,329,384 shares of the cable giant’s stock worth $1,500,722,000 after buying an additional 1,000,626 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Comcast by 41.7% in 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 acquiring an additional 8,243,302 shares during the last quarter. Harris Associates L P lifted 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 valued at $827,616,000 after purchasing an additional 1,854,671 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Comcast by 3.4% during 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 acquiring an additional 368,685 shares in the last quarter. 84.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on CMCSA. Seaport Res Ptn downgraded Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. Pivotal Research dropped their price target on shares of Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Evercore ISI reduced their price objective on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Barclays lowered their target price on Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Finally, Macquarie reissued a “neutral” rating and issued a $40.00 price target on shares of Comcast in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Comcast currently has a consensus rating of “Hold” and a consensus target price of $45.78.

Comcast Stock Up 1.5 %

CMCSA stock opened at $40.73 on Tuesday. The stock has a market cap of $159.81 billion, a P/E ratio of 10.78, a P/E/G ratio of 1.03 and a beta of 1.01. 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 stock’s fifty day simple moving average is $39.61 and its two-hundred day simple moving average is $39.62. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. The company had revenue of $29.69 billion during the quarter, compared to analyst estimates of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.13 earnings per share. Analysts expect that Comcast Co. will post 4.23 EPS for the current year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors 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 3.04%. Comcast’s dividend payout ratio (DPR) is presently 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.