Wedge Capital Management L L P NC reduced its position in Comcast Co. (NASDAQ:CMCSA – Get Rating) by 7.7% in the 2nd quarter, Holdings Channel reports. The firm owned 8,696 shares of the cable giant’s stock after selling 729 shares during the period. Wedge Capital Management L L P NC’s holdings in Comcast were worth $341,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Baker Tilly Wealth Management LLC lifted its holdings in shares of Comcast by 40.7% in the 1st quarter. Baker Tilly Wealth Management LLC now owns 73,266 shares of the cable giant’s stock valued at $3,430,000 after purchasing an additional 21,211 shares during the last quarter. WC Walker & Associates Inc. lifted its holdings in shares of Comcast by 1.5% in the 1st quarter. WC Walker & Associates Inc. now owns 50,498 shares of the cable giant’s stock valued at $2,419,000 after purchasing an additional 740 shares during the last quarter. Cooper Financial Group lifted its holdings in shares of Comcast by 5.1% in the 1st quarter. Cooper Financial Group now owns 7,803 shares of the cable giant’s stock valued at $365,000 after purchasing an additional 382 shares during the last quarter. Toroso Investments LLC increased its position in Comcast by 38.4% in the 1st quarter. Toroso Investments LLC now owns 167,887 shares of the cable giant’s stock valued at $7,860,000 after acquiring an additional 46,584 shares during the period. Finally, New York State Common Retirement Fund increased its position in Comcast by 1.4% in the 1st quarter. New York State Common Retirement Fund now owns 11,590,939 shares of the cable giant’s stock valued at $542,688,000 after acquiring an additional 155,051 shares during the period. 82.80% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
CMCSA has been the topic of several recent research reports. Atlantic Securities cut Comcast from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $60.00 to $44.00 in a research report on Monday, August 15th. TD Securities boosted their price target on Comcast from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Wells Fargo & Company dropped their price target on Comcast from $37.00 to $36.00 and set an “underweight” rating on the stock in a research report on Monday, September 12th. StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Cowen dropped their target price on Comcast from $60.00 to $51.00 in a research report on Friday, July 29th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Comcast presently has an average rating of “Hold” and an average price target of $51.75.
Comcast Trading Down 3.4 %
Shares of Comcast stock opened at $32.70 on Thursday. Comcast Co. has a fifty-two week low of $32.68 and a fifty-two week high of $57.96. The firm has a market cap of $144.31 billion, a PE ratio of 10.69, a P/E/G ratio of 0.70 and a beta of 0.90. The business’s fifty day moving average is $37.87 and its two-hundred day moving average is $41.47. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.04.
Comcast (NASDAQ:CMCSA – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The cable giant reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.09. Comcast had a return on equity of 16.67% and a net margin of 11.54%. The company had revenue of $30.02 billion for the quarter, compared to analyst estimates of $29.72 billion. During the same quarter in the prior year, the company posted $0.84 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts anticipate that Comcast Co. will post 3.62 earnings per share for the current year.
Comcast Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be issued a dividend of $0.27 per share. The ex-dividend date is Tuesday, October 4th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.30%. Comcast’s payout ratio is 35.29%.
Comcast Company Profile
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.
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