Comcast Co. (NASDAQ:CMCSA) Position Trimmed by Cornerstone Advisors LLC

Cornerstone Advisors LLC reduced its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 195,300 shares of the cable giant’s stock after selling 3,000 shares during the period. Cornerstone Advisors LLC’s holdings in Comcast were worth $7,648,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Capital World Investors boosted its stake in shares of Comcast by 7.4% during the 1st quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock worth $5,015,737,000 after acquiring an additional 7,929,963 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Comcast by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 38,329,384 shares of the cable giant’s stock worth $1,500,722,000 after buying an additional 1,000,626 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings 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 valued at $1,214,512,000 after acquiring an additional 8,243,302 shares during the period. Harris Associates L P boosted its stake in Comcast by 10.9% during the 4th quarter. Harris Associates L P now owns 18,873,787 shares of the cable giant’s stock valued at $827,616,000 after purchasing an additional 1,854,671 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in shares of Comcast by 3.4% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 11,304,304 shares of the cable giant’s stock valued at $495,694,000 after acquiring an additional 368,685 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Trading Up 0.6 %

CMCSA stock opened at $39.55 on Monday. 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 stock has a market capitalization of $153.16 billion, a price-to-earnings ratio of 10.46, a P/E/G ratio of 1.03 and a beta of 1.01. The business has a fifty day moving average price of $39.36 and a 200 day moving average price of $39.72. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.11.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (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 business 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 posted $1.13 earnings per share. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. Analysts expect that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently commented on CMCSA. The Goldman Sachs Group started coverage on shares of Comcast in a research note on Tuesday, June 25th. They set a “buy” rating and a $44.00 target price for the company. BNP Paribas cut shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 target price for the company. in a research note on Tuesday, June 11th. Deutsche Bank Aktiengesellschaft lowered their price target on Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Pivotal Research reduced their price objective on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, Barclays lowered their price objective on Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.