Comcast Co. (NASDAQ:CMCSA) Shares Sold by ARGA Investment Management LP

ARGA Investment Management LP trimmed its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 79.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 178,822 shares of the cable giant’s stock after selling 673,527 shares during the quarter. ARGA Investment Management LP’s holdings in Comcast were worth $7,752,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CMCSA. 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 valued at $26,000 after buying an additional 371 shares during the period. Leith Wheeler Investment Counsel Ltd. lifted its holdings in shares of Comcast by 299.1% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock valued at $28,000 after buying an additional 475,675 shares during the period. OLD Point Trust & Financial Services N A acquired a new stake in shares of Comcast in the 4th quarter valued at approximately $28,000. Pineridge Advisors LLC acquired a new position in Comcast during the fourth quarter worth $32,000. Finally, Financial Synergies Wealth Advisors Inc. raised its holdings in 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 purchasing an additional 593 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Comcast

In other news, major shareholder Corp Comcast sold 3,176,923 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the completion of the transaction, the insider now directly owns 2,000,000 shares of the company’s stock, valued at $6,380,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CMCSA has been the subject of several research reports. StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a report on Friday, March 22nd. BNP Paribas downgraded Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target for the company. in a research report on Tuesday, June 11th. Seaport Res Ptn downgraded Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday. Citigroup dropped their price target on Comcast from $53.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Finally, Scotiabank dropped their price target on Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $48.62.

Comcast Stock Down 1.6 %

Shares of NASDAQ:CMCSA traded down $0.62 during trading on Wednesday, hitting $37.78. The company’s stock had a trading volume of 7,970,779 shares, compared to its average volume of 20,482,760. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.46. The stock’s 50-day moving average price is $38.78 and its two-hundred day moving average price is $41.46. The company has a market capitalization of $148.23 billion, a PE ratio of 10.16, a PEG ratio of 0.96 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, topping the consensus estimate of $0.98 by $0.06. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The business had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The company’s revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts expect that Comcast Co. will post 4.21 EPS for the current year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.28%. The ex-dividend date is Wednesday, July 3rd. Comcast’s dividend payout ratio is currently 32.80%.

Comcast Company 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, sky-branded entertainment television networks, and advertising.