Yacktman Asset Management LP Sells 7,500 Shares of Comcast Co. (NASDAQ:CMCSA)

Yacktman Asset Management LP trimmed its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 0.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,421,000 shares of the cable giant’s stock after selling 7,500 shares during the quarter. Yacktman Asset Management LP’s holdings in Comcast were worth $55,646,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Bollard Group LLC boosted its holdings in shares of Comcast by 0.7% during the fourth quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock worth $1,622,000 after purchasing an additional 244 shares during the period. Tortoise Investment Management LLC raised its holdings in shares of Comcast by 4.5% during the fourth quarter. Tortoise Investment Management LLC now owns 5,801 shares of the cable giant’s stock valued at $254,000 after purchasing an additional 249 shares during the last quarter. Laraway Financial Advisors Inc grew its position in Comcast by 1.9% in the 4th quarter. Laraway Financial Advisors Inc now owns 13,150 shares of the cable giant’s stock worth $577,000 after purchasing an additional 250 shares during the period. Verum Partners LLC increased its position in Comcast by 4.9% during the second quarter. Verum Partners LLC now owns 5,663 shares of the cable giant’s stock valued at $222,000 after acquiring an additional 267 shares during the last quarter. Finally, L.M. Kohn & Company increased its holdings in Comcast by 3.5% during the fourth quarter. L.M. Kohn & Company now owns 7,996 shares of the cable giant’s stock valued at $351,000 after buying an additional 270 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Price Performance

Shares of NASDAQ CMCSA traded up $0.79 during trading on Thursday, hitting $39.46. The company had a trading volume of 7,802,593 shares, compared to its average volume of 19,929,018. The business’s 50-day moving average is $39.20 and its 200 day moving average is $39.86. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $154.83 billion, a P/E ratio of 10.46, a PEG ratio of 1.05 and a beta of 1.00. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11.

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

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.14%. The ex-dividend date is Wednesday, October 2nd. Comcast’s payout ratio is currently 32.80%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CMCSA. Deutsche Bank Aktiengesellschaft dropped their price target on Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Evercore ISI reduced their price target on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Benchmark reissued a “buy” rating and set a $55.00 price target on shares of Comcast in a research report on Monday, May 13th. Rosenblatt Securities restated a “neutral” rating and set a $45.00 target price on shares of Comcast in a research note on Wednesday, July 24th. Finally, Seaport Res Ptn downgraded Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.