Cypress Capital Group Reduces Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Cypress Capital Group reduced its position in Comcast Co. (NASDAQ:CMCSA) by 10.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,909 shares of the cable giant’s stock after selling 3,332 shares during the period. Cypress Capital Group’s holdings in Comcast were worth $1,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in CMCSA. Bollard Group LLC lifted its stake in Comcast by 0.7% in the 4th quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock valued at $1,622,000 after purchasing an additional 244 shares during the last quarter. Tortoise Investment Management LLC lifted its stake in shares of Comcast by 4.5% during the 4th quarter. Tortoise Investment Management LLC now owns 5,801 shares of the cable giant’s stock valued at $254,000 after buying an additional 249 shares in the last quarter. Laraway Financial Advisors Inc lifted its stake 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 in the last quarter. HHM Wealth Advisors LLC lifted its stake in Comcast by 15.3% in the 4th quarter. HHM Wealth Advisors LLC now owns 1,975 shares of the cable giant’s stock worth $87,000 after purchasing an additional 262 shares in the last quarter. Finally, Verum Partners LLC lifted its position in shares of Comcast by 4.9% in the 2nd quarter. Verum Partners LLC now owns 5,663 shares of the cable giant’s stock worth $222,000 after purchasing an additional 267 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Price Performance

Shares of Comcast stock traded up $0.41 on Friday, hitting $39.82. The company had a trading volume of 11,682,156 shares, compared to its average volume of 20,081,695. The business has a 50-day simple moving average of $38.90 and a 200-day simple moving average of $39.97. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $156.24 billion, a PE ratio of 10.53, a PEG ratio of 1.07 and a beta of 1.00. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.30.

Comcast (NASDAQ:CMCSA) last announced 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 company had revenue of $29.69 billion during the quarter, compared to the consensus estimate of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The company’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.13 earnings per share. Research analysts expect that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s dividend payout ratio is currently 32.80%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CMCSA. KeyCorp reduced their target price on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. The Goldman Sachs Group started coverage on Comcast in a research report on Tuesday, June 25th. They set a “buy” rating and a $44.00 price target on the stock. Seaport Res Ptn downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 24th. Citigroup dropped their target price on shares of Comcast from $53.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Finally, Pivotal Research cut their price target on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $45.78.

Comcast 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.