Herbst Group LLC Lowers Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Herbst Group LLC trimmed its stake in Comcast Co. (NASDAQ:CMCSA) by 5.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 59,802 shares of the cable giant’s stock after selling 3,200 shares during the quarter. Comcast comprises 1.7% of Herbst Group LLC’s portfolio, making the stock its 23rd largest position. Herbst Group LLC’s holdings in Comcast were worth $2,485,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Kalos Management Inc. purchased a new position in Comcast in the 1st quarter valued at about $28,000. NewSquare Capital LLC lifted its position in shares of Comcast by 134.3% during the first quarter. NewSquare Capital LLC now owns 752 shares of the cable giant’s stock worth $29,000 after purchasing an additional 431 shares during the last quarter. GW&K Investment Management LLC bought a new position in Comcast during the first quarter worth $29,000. Fortis Capital Advisors LLC bought a new position in Comcast during the fourth quarter worth $29,000. Finally, Ruedi Wealth Management Inc. bought a new position in Comcast in the fourth quarter worth about $33,000. 82.85% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Up 0.3 %

Comcast stock traded up $0.14 during trading hours on Tuesday, hitting $45.78. The company had a trading volume of 2,377,553 shares, compared to its average volume of 18,717,746. The firm has a market capitalization of $188.85 billion, a P/E ratio of 28.89, a price-to-earnings-growth ratio of 1.26 and a beta of 0.99. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.76 and a quick ratio of 0.76. The firm’s fifty day moving average is $44.84 and its 200-day moving average is $41.06. Comcast Co. has a fifty-two week low of $28.39 and a fifty-two week high of $47.46.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, July 27th. The cable giant reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.15. Comcast had a return on equity of 19.79% and a net margin of 5.40%. The company had revenue of $30.51 billion for the quarter, compared to analyst estimates of $30.11 billion. During the same period in the prior year, the firm posted $1.01 EPS. The business’s revenue was up 1.7% compared to the same quarter last year. On average, research analysts forecast that Comcast Co. will post 3.81 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Tuesday, October 3rd. Comcast’s dividend payout ratio is 73.42%.

Analyst Upgrades and Downgrades

CMCSA has been the topic of a number of recent research reports. Credit Suisse Group raised their target price on shares of Comcast from $50.00 to $54.00 in a report on Thursday, July 27th. Barclays raised their target price on Comcast from $42.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, July 31st. Rosenblatt Securities raised their target price on Comcast from $39.00 to $43.00 and gave the company a “neutral” rating in a research note on Monday, July 31st. Morgan Stanley lifted their price target on Comcast from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, July 24th. Finally, KeyCorp lifted their price target on Comcast from $46.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Comcast presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.88.

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, advertising sales, and Sky channels.