Old Port Advisors Lowers Holdings in Comcast Co. (NASDAQ:CMCSA)

Old Port Advisors trimmed its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 10.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,658 shares of the cable giant’s stock after selling 785 shares during the period. Old Port Advisors’ holdings in Comcast were worth $289,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. SRN Advisors LLC increased its position in Comcast by 5.1% during the 1st quarter. SRN Advisors LLC now owns 19,966 shares of the cable giant’s stock valued at $866,000 after purchasing an additional 962 shares during the period. Cetera Advisor Networks LLC boosted its holdings in shares of Comcast by 1.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 666,020 shares of the cable giant’s stock valued at $28,872,000 after buying an additional 11,417 shares in the last quarter. Cetera Advisors LLC grew its position in shares of Comcast by 71.0% in the 1st quarter. Cetera Advisors LLC now owns 198,430 shares of the cable giant’s stock worth $8,602,000 after buying an additional 82,357 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Comcast by 236.7% during the 1st quarter. Cetera Investment Advisers now owns 1,112,440 shares of the cable giant’s stock worth $48,224,000 after acquiring an additional 782,029 shares in the last quarter. Finally, Invst LLC purchased a new position in Comcast in the first quarter worth $1,220,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Insider Buying and Selling

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were 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 approximately $6,380,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.26% of the company’s stock.

Comcast Price Performance

Shares of CMCSA stock traded down $0.36 during midday trading on Friday, reaching $39.90. 25,951,665 shares of the company traded hands, compared to its average volume of 21,184,204. The firm has a market cap of $154.51 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 1.07 and a beta of 1.00. 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 firm’s 50 day simple moving average is $38.70 and its two-hundred day simple moving average is $40.56. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.46.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. The business had revenue of $29.69 billion for the quarter, compared to analyst estimates of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.13 earnings per share. On average, equities research analysts expect that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 3.11%. Comcast’s payout ratio is currently 32.80%.

Analysts Set New Price Targets

CMCSA has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on shares of Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Barclays reduced their price target on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. KeyCorp lowered their price objective on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. The Goldman Sachs Group started coverage on Comcast in a research note on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price objective for the company. Finally, Evercore ISI cut their price target on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $46.01.

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.