Certuity LLC Sells 34,453 Shares of Comcast Co. (NASDAQ:CMCSA)

Certuity LLC reduced its stake in Comcast Co. (NASDAQ:CMCSA) by 23.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,515 shares of the cable giant’s stock after selling 34,453 shares during the period. Certuity LLC’s holdings in Comcast were worth $4,289,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Steph & Co. lifted its holdings in shares of Comcast by 154.6% in the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after purchasing an additional 371 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new position in shares of Comcast in the fourth quarter valued at $28,000. Pineridge Advisors LLC acquired a new position in shares of Comcast during the fourth quarter valued at about $32,000. Financial Synergies Wealth Advisors Inc. increased its position in shares of Comcast by 336.9% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock worth $33,000 after acquiring an additional 593 shares in the last quarter. Finally, IAG Wealth Partners LLC raised its holdings in shares of Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after acquiring an additional 522 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CMCSA shares. Deutsche Bank Aktiengesellschaft cut 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. Macquarie reaffirmed a “neutral” rating and set a $40.00 target price on shares of Comcast in a research report on Wednesday, July 24th. KeyCorp lowered their price target on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Seaport Res Ptn downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. Finally, Barclays lowered their target price on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.78.

Comcast Stock Down 0.5 %

Comcast stock opened at $39.61 on Friday. The firm has a 50 day simple moving average of $39.24 and a 200 day simple moving average of $39.83. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11. The firm has a market capitalization of $155.41 billion, a price-to-earnings ratio of 10.48, a P/E/G ratio of 1.05 and a beta of 1.01.

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

Comcast Announces Dividend

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

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.