Comcast Co. (NASDAQ:CMCSA) Shares Sold by LSV Asset Management

LSV Asset Management cut its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,902,956 shares of the cable giant’s stock after selling 361,760 shares during the period. Comcast makes up about 1.3% of LSV Asset Management’s investment portfolio, making the stock its 3rd largest holding. LSV Asset Management owned about 0.38% of Comcast worth $583,600,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Steph & Co. raised its holdings in Comcast by 154.6% during the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after purchasing an additional 371 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new stake in Comcast during the fourth quarter worth approximately $28,000. Pineridge Advisors LLC bought a new stake in Comcast during the fourth quarter worth approximately $32,000. Financial Synergies Wealth Advisors Inc. raised its holdings in Comcast by 336.9% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock worth $33,000 after purchasing an additional 593 shares in the last quarter. Finally, IAG Wealth Partners LLC raised its holdings in Comcast by 204.7% during the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after purchasing an additional 522 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CMCSA has been the topic of several research reports. Pivotal Research dropped their price target on Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Seaport Res Ptn cut Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. Macquarie reaffirmed a “neutral” rating and issued a $40.00 price target on shares of Comcast in a report on Wednesday, July 24th. The Goldman Sachs Group initiated coverage on Comcast in a report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price target on the stock. Finally, KeyCorp lowered their price objective on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $45.78.

Comcast Stock Performance

Comcast stock traded down $0.19 on Friday, reaching $39.61. 18,549,208 shares of the stock were exchanged, compared to its average volume of 19,988,055. The stock has a market cap of $155.41 billion, a PE ratio of 10.48, a PEG ratio of 1.05 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. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.11. The firm has a fifty day moving average price of $39.24 and a two-hundred day moving average price of $39.83.

Comcast (NASDAQ:CMCSA) last released its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. The firm 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 business’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.13 EPS. Sell-side analysts anticipate that Comcast Co. will post 4.23 EPS for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s dividend payout ratio is currently 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.