Sterling Investment Management LLC Decreases Position in Comcast Co. (NASDAQ:CMCSA)

Sterling Investment Management LLC lowered its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,475 shares of the cable giant’s stock after selling 322 shares during the period. Comcast accounts for 2.2% of Sterling Investment Management LLC’s investment portfolio, making the stock its 11th biggest holding. Sterling Investment Management LLC’s holdings in Comcast were worth $2,720,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Comcast in the fourth quarter valued at $1,798,173,000. Moneta Group Investment Advisors LLC boosted its stake in Comcast by 121,265.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 25,530,426 shares of the cable giant’s stock worth $892,799,000 after purchasing an additional 25,509,390 shares during the period. Ontario Teachers Pension Plan Board boosted its stake in Comcast by 71,575.9% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 12,705,989 shares of the cable giant’s stock worth $444,328,000 after purchasing an additional 12,688,262 shares during the period. Morgan Stanley boosted its stake in Comcast by 15.2% in the 4th quarter. Morgan Stanley now owns 53,653,778 shares of the cable giant’s stock worth $1,876,273,000 after purchasing an additional 7,084,451 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Comcast by 62.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 15,271,853 shares of the cable giant’s stock valued at $715,028,000 after buying an additional 5,880,050 shares during the period. Hedge funds and other institutional investors own 82.85% of the company’s stock.

Comcast Trading Up 0.2 %

Comcast stock traded up $0.07 during trading hours on Tuesday, reaching $45.71. The company had a trading volume of 3,386,601 shares, compared to its average volume of 18,721,420. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.76 and a quick ratio of 0.76. Comcast Co. has a 12-month low of $28.39 and a 12-month high of $47.46. The firm has a market cap of $188.56 billion, a price-to-earnings ratio of 28.89, a P/E/G ratio of 1.26 and a beta of 0.99. The company has a 50-day moving average price of $44.84 and a 200 day moving average price of $41.06.

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

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Tuesday, October 3rd. Comcast’s dividend payout ratio (DPR) is currently 73.42%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CMCSA. Morgan Stanley increased their price target on shares of Comcast from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, July 24th. Credit Suisse Group upped their price target on shares of Comcast from $50.00 to $54.00 in a report on Thursday, July 27th. Wells Fargo & Company upped their price target on shares of Comcast from $46.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, July 28th. Macquarie raised Comcast from an “underperform” rating to a “neutral” rating and set a $46.00 price target on the stock in a report on Friday, July 28th. Finally, Bank of America boosted their price objective on Comcast from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.