EFG Asset Management Americas Corp. lowered its holdings in Comcast Co. (NASDAQ:CMCSA) by 91.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,101 shares of the cable giant’s stock after selling 92,196 shares during the period. EFG Asset Management Americas Corp.’s holdings in Comcast were worth $366,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of CMCSA. Efficient Wealth Management LLC acquired a new stake in shares of Comcast in the first quarter valued at approximately $25,000. Asset Advisors Investment Management LLC acquired a new stake in shares of Comcast in the second quarter valued at approximately $32,000. Financial Management Professionals Inc. acquired a new stake in shares of Comcast in the second quarter valued at approximately $33,000. Evolution Wealth Advisors LLC increased its stake in shares of Comcast by 68.5% in the second quarter. Evolution Wealth Advisors LLC now owns 841 shares of the cable giant’s stock valued at $33,000 after purchasing an additional 342 shares during the period. Finally, Disciplined Investments LLC increased its stake in shares of Comcast by 59.1% in the first quarter. Disciplined Investments LLC now owns 1,088 shares of the cable giant’s stock valued at $37,000 after purchasing an additional 404 shares during the period. 83.16% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:CMCSA traded down $0.87 during trading on Friday, reaching $42.80. 23,913,538 shares of the company traded hands, compared to its average volume of 17,506,434. The firm has a fifty day simple moving average of $40.51 and a 200 day simple moving average of $40.20. The firm has a market cap of $195.34 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 1.92 and a beta of 0.97. Comcast Co. has a 1-year low of $31.70 and a 1-year high of $47.74. The company has a quick ratio of 0.87, a current ratio of 0.97 and a debt-to-equity ratio of 1.25.
Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, July 30th. The cable giant reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.14. The company had revenue of $23.72 billion during the quarter, compared to analyst estimates of $23.56 billion. Comcast had a net margin of 10.91% and a return on equity of 16.66%. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter last year, the business posted $0.78 EPS. As a group, research analysts anticipate that Comcast Co. will post 2.39 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Tuesday, October 6th. Comcast’s dividend payout ratio (DPR) is currently 29.39%.
In related news, CAO Daniel C. Murdock sold 4,536 shares of Comcast stock in a transaction on Monday, June 15th. The shares were sold at an average price of $38.60, for a total value of $175,089.60. Following the completion of the sale, the chief accounting officer now owns 10,085 shares of the company’s stock, valued at approximately $389,281. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.35% of the company’s stock.
A number of research analysts recently commented on the stock. Sanford C. Bernstein upgraded shares of Comcast from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $48.00 to $52.00 in a research note on Wednesday, July 1st. ValuEngine lowered shares of Comcast from a “hold” rating to a “sell” rating in a research note on Monday, June 1st. Oppenheimer reiterated a “hold” rating on shares of Comcast in a research note on Thursday, April 30th. UBS Group lowered their price objective on shares of Comcast from $49.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Finally, Guggenheim lowered shares of Comcast from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $48.38.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.
Further Reading: What does a market perform rating mean?
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