DNB Asset Management AS cut its holdings in Comcast Co. (NASDAQ:CMCSA – Free Report) by 3.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,043,308 shares of the cable giant’s stock after selling 33,796 shares during the quarter. DNB Asset Management AS’s holdings in Comcast were worth $43,349,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Ironwood Wealth Management LLC. lifted its stake in shares of Comcast by 2.4% in the first quarter. Ironwood Wealth Management LLC. now owns 15,458 shares of the cable giant’s stock worth $724,000 after buying an additional 363 shares during the last quarter. United Bank lifted its stake in shares of Comcast by 17.4% in the first quarter. United Bank now owns 37,271 shares of the cable giant’s stock worth $1,745,000 after buying an additional 5,532 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Comcast by 29.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,063,697 shares of the cable giant’s stock worth $190,261,000 after buying an additional 928,627 shares during the last quarter. Covestor Ltd lifted its stake in shares of Comcast by 104.4% in the first quarter. Covestor Ltd now owns 3,472 shares of the cable giant’s stock worth $163,000 after buying an additional 1,773 shares during the last quarter. Finally, First Western Trust Bank acquired a new stake in shares of Comcast in the first quarter worth $482,000. 82.85% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on CMCSA. Wells Fargo & Company boosted their price objective on shares of Comcast from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, July 28th. StockNews.com assumed coverage on shares of Comcast in a research report on Thursday, August 17th. They set a “strong-buy” rating on the stock. Rosenblatt Securities boosted their target price on shares of Comcast from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Monday, July 31st. TD Cowen boosted their target price on shares of Comcast from $46.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Finally, Loop Capital boosted their target price on shares of Comcast from $50.00 to $53.00 in a research report on Friday, July 28th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.88.
Comcast Stock Down 0.5 %
CMCSA opened at $45.50 on Thursday. The firm’s 50-day simple moving average is $45.05 and its 200-day simple moving average is $41.21. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.76 and a current ratio of 0.76. Comcast Co. has a twelve month low of $28.39 and a twelve month high of $47.46. The firm has a market cap of $187.69 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 1.27 and a beta of 0.99.
Comcast (NASDAQ:CMCSA – Get Free Report) last posted its earnings results on Thursday, July 27th. The cable giant reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.15. The business had revenue of $30.51 billion for the quarter, compared to analyst estimates of $30.11 billion. Comcast had a net margin of 5.40% and a return on equity of 19.79%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.01 EPS. Equities research analysts anticipate that Comcast Co. will post 3.81 EPS for the current fiscal year.
Comcast Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be given a dividend of $0.29 per share. The ex-dividend date is Tuesday, October 3rd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.55%. Comcast’s payout ratio is 73.42%.
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, advertising sales, and Sky channels.
Read More
- Five stocks we like better than Comcast
- Investing in Travel Stocks Benefits
- Are These Consumer Staples Too Cheap for Investors To Ignore?
- Stock Ratings and Recommendations: Understanding Analyst Ratings
- 3 ETFs for the Conservative Investor to Buy and Hold
- Health Care Stocks Explained: Why You Might Want to Invest
- Markets Are Loving These Stocks ‘Firing On All Cylinders’
Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Co. (NASDAQ:CMCSA – Free Report).
Receive News & Ratings for Comcast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comcast and related companies with MarketBeat.com's FREE daily email newsletter.
