HB Wealth Management LLC Decreases Position in Comcast Co. (NASDAQ:CMCSA)

HB Wealth Management LLC cut its stake in Comcast Co. (NASDAQ:CMCSAGet Rating) by 10.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,586 shares of the cable giant’s stock after selling 14,978 shares during the quarter. HB Wealth Management LLC’s holdings in Comcast were worth $5,085,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baker Tilly Wealth Management LLC increased its holdings in shares of Comcast by 40.7% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 73,266 shares of the cable giant’s stock worth $3,430,000 after buying an additional 21,211 shares during the last quarter. WC Walker & Associates Inc. raised its position in 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 in the last quarter. Cooper Financial Group increased 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 acquiring an additional 382 shares during the last quarter. Toroso Investments LLC grew its stake in Comcast by 38.4% during the 1st quarter. Toroso Investments LLC now owns 167,887 shares of the cable giant’s stock worth $7,860,000 after buying an additional 46,584 shares during the last quarter. Finally, New York State Common Retirement Fund grew its stake in Comcast by 1.4% during the 1st quarter. New York State Common Retirement Fund now owns 11,590,939 shares of the cable giant’s stock worth $542,688,000 after buying an additional 155,051 shares during the last quarter. 82.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on CMCSA. Raymond James reissued a “hold” rating on shares of Comcast in a report on Friday, July 8th. Wells Fargo & Company cut their price target on Comcast from $37.00 to $36.00 and set an “underweight” rating for the company in a research note on Monday, September 12th. JPMorgan Chase & Co. cut shares of Comcast from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $52.00 to $45.00 in a research note on Friday, July 29th. Atlantic Securities cut shares of Comcast from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $60.00 to $44.00 in a research note on Monday, August 15th. Finally, Daiwa Capital Markets assumed coverage on shares of Comcast in a research note on Friday, July 1st. They set an “outperform” rating and a $43.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $51.75.

Comcast Price Performance

Shares of Comcast stock traded down $0.75 during midday trading on Friday, hitting $31.72. 672,749 shares of the company were exchanged, compared to its average volume of 28,078,204. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $139.99 billion, a P/E ratio of 10.41, a PEG ratio of 0.67 and a beta of 0.90. Comcast Co. has a 52 week low of $32.30 and a 52 week high of $57.96. The firm has a 50 day simple moving average of $37.73 and a 200-day simple moving average of $41.37.

Comcast (NASDAQ:CMCSAGet Rating) last released its quarterly earnings results on Thursday, July 28th. The cable giant reported $1.01 earnings per share for the quarter, beating 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 firm had revenue of $30.02 billion during the quarter, compared to analysts’ expectations of $29.72 billion. During the same period last year, the firm posted $0.84 EPS. The business’s revenue was up 5.1% on a year-over-year basis. Research analysts forecast that Comcast Co. will post 3.62 earnings per share for the current year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, October 4th. This represents a $1.08 annualized dividend and a dividend yield of 3.40%. Comcast’s dividend payout ratio (DPR) is currently 35.29%.

Comcast Profile

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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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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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