Mount Lucas Management LP Sells 429 Shares of Comcast Co. (NASDAQ:CMCSA)

Mount Lucas Management LP lessened its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 0.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 48,523 shares of the cable giant’s stock after selling 429 shares during the quarter. Mount Lucas Management LP’s holdings in Comcast were worth $1,900,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CMCSA. Steph & Co. raised its holdings in Comcast by 154.6% during the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after buying an additional 371 shares during the period. Strategic Financial Concepts LLC purchased a new stake in Comcast in the second quarter worth $27,000. OLD Point Trust & Financial Services N A purchased a new stake in Comcast in the fourth quarter worth $28,000. IAG Wealth Partners LLC increased its stake in Comcast by 204.7% in 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 during the period. Finally, Pineridge Advisors LLC purchased a new stake in Comcast in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Down 0.5 %

CMCSA stock traded down $0.19 during trading on Friday, reaching $39.61. 18,549,208 shares of the company traded hands, compared to its average volume of 19,988,055. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11. The business has a 50 day simple moving average of $39.24 and a 200 day simple moving average of $39.83. The company has a market capitalization of $155.41 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 1.05 and a beta of 1.01. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. The company had revenue of $29.69 billion for the quarter, compared to the consensus estimate of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.13 earnings per share. On average, equities research analysts anticipate that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s dividend payout ratio is presently 32.80%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Evercore ISI reduced their target price on Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Seaport Res Ptn lowered Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. The Goldman Sachs Group assumed coverage on Comcast in a research note on Tuesday, June 25th. They issued a “buy” rating and a $44.00 target price on the stock. Rosenblatt Securities restated a “neutral” rating and set a $45.00 price target on shares of Comcast in a research note on Wednesday, July 24th. Finally, Pivotal Research cut their price target on Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $45.78.

About Comcast

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.