TD Asset Management Inc Trims Holdings in Comcast Co. (NASDAQ:CMCSA)

TD Asset Management Inc cut its stake in Comcast Co. (NASDAQ:CMCSA) by 0.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,102,512 shares of the cable giant’s stock after selling 8,081 shares during the quarter. TD Asset Management Inc owned about 0.08% of Comcast worth $121,494,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CMCSA. Norges Bank purchased a new position in shares of Comcast in the fourth quarter valued at $2,542,988,000. Capital World Investors grew its position in Comcast by 17.0% during the fourth quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock worth $4,725,926,000 after buying an additional 15,625,543 shares in the last quarter. Ontario Teachers Pension Plan Board grew its position in Comcast by 25,881.7% during the first quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock worth $470,391,000 after buying an additional 10,809,231 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Comcast by 41.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock worth $1,214,512,000 after buying an additional 8,243,302 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Comcast by 80.9% during the first quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock worth $457,007,000 after buying an additional 4,714,586 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMCSA has been the subject of several recent analyst reports. Barclays reduced their target price on Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Seaport Res Ptn cut Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. Pivotal Research cut their price objective on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. BNP Paribas cut Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price objective for the company. in a report on Tuesday, June 11th. Finally, 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 objective for the company. One equities 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $45.78.

Comcast Trading Up 2.9 %

CMCSA opened at $39.80 on Friday. The business has a 50 day simple moving average of $39.23 and a two-hundred day simple moving average of $39.86. The firm has a market capitalization of $156.16 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 1.05 and a beta of 1.00. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. Comcast Co. has a one year low of $36.43 and a one year high of $47.11.

Comcast (NASDAQ:CMCSA) last released its quarterly 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. The business had revenue of $29.69 billion during the quarter, compared to analyst estimates of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. Comcast’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.13 EPS. Analysts predict that Comcast Co. will post 4.23 EPS for the current 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 given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s payout ratio is 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.