Financial Management Professionals Inc. Reduces Holdings in Comcast Co. (NASDAQ:CMCSA)

Financial Management Professionals Inc. reduced its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 42.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,008 shares of the cable giant’s stock after selling 741 shares during the period. Financial Management Professionals Inc.’s holdings in Comcast were worth $44,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealthspire Advisors LLC increased its holdings in Comcast by 4.8% during the 4th quarter. Wealthspire Advisors LLC now owns 60,650 shares of the cable giant’s stock valued at $2,659,000 after acquiring an additional 2,781 shares in the last quarter. Everett Harris & Co. CA grew its holdings in shares of Comcast by 7.7% during the fourth quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock worth $73,993,000 after buying an additional 121,279 shares in the last quarter. Desjardins Global Asset Management Inc. grew its holdings in shares of Comcast by 1.5% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock worth $4,438,000 after buying an additional 1,486 shares in the last quarter. Brevan Howard Capital Management LP purchased a new stake in shares of Comcast during the fourth quarter worth about $2,056,000. Finally, Axxcess Wealth Management LLC grew its holdings in shares of Comcast by 10.5% during the fourth quarter. Axxcess Wealth Management LLC now owns 115,503 shares of the cable giant’s stock worth $5,065,000 after buying an additional 10,936 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CMCSA. The Goldman Sachs Group began coverage on shares of Comcast in a report on Tuesday. They set a “buy” rating and a $44.00 price target for the company. Rosenblatt Securities reissued a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research report on Friday, April 26th. Evercore ISI reissued an “outperform” rating and issued a $50.00 target price on shares of Comcast in a research report on Tuesday, March 26th. Wells Fargo & Company decreased their target price on shares of Comcast from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Finally, BNP Paribas cut shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 target price on the stock. in a research report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Comcast has a consensus rating of “Hold” and an average price target of $48.62.

Comcast Trading Up 2.3 %

NASDAQ CMCSA opened at $39.16 on Friday. The company’s fifty day simple moving average is $38.71 and its 200-day simple moving average is $41.39. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.46. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.13. The stock has a market cap of $153.65 billion, a P/E ratio of 10.36, a PEG ratio of 0.96 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The business had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. During the same period in the previous year, the company posted $0.92 earnings per share. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts predict that Comcast Co. will post 4.21 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.24 annualized dividend and a yield of 3.17%. Comcast’s payout ratio is 32.80%.

Insider Buying and Selling at Comcast

In other news, major shareholder Corp Comcast sold 3,176,923 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the completion of the transaction, the insider now owns 2,000,000 shares in the company, valued at $6,380,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.26% of the stock is owned by insiders.

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.