Means Investment CO. Inc. Cuts Position in Comcast Co. (NASDAQ:CMCSA)

Means Investment CO. Inc. lowered its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 5.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,067 shares of the cable giant’s stock after selling 722 shares during the period. Means Investment CO. Inc.’s holdings in Comcast were worth $473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wealthspire Advisors LLC increased its holdings in Comcast by 4.8% during the 4th quarter. Wealthspire Advisors LLC now owns 60,650 shares of the cable giant’s stock valued at $2,659,000 after acquiring an additional 2,781 shares in the last quarter. Brevan Howard Capital Management LP purchased a new stake in Comcast in the 4th quarter valued at approximately $2,056,000. Axxcess Wealth Management LLC grew its holdings in Comcast by 10.5% during the 4th quarter. Axxcess Wealth Management LLC now owns 115,503 shares of the cable giant’s stock valued at $5,065,000 after buying an additional 10,936 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in Comcast by 3.4% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 11,304,304 shares of the cable giant’s stock worth $495,694,000 after buying an additional 368,685 shares in the last quarter. Finally, Concord Wealth Partners raised its holdings in shares of Comcast by 19.4% in the fourth quarter. Concord Wealth Partners now owns 32,983 shares of the cable giant’s stock worth $1,446,000 after acquiring an additional 5,351 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Comcast Stock Performance

CMCSA traded up $0.64 during trading on Monday, reaching $40.26. 13,176,556 shares of the company were exchanged, compared to its average volume of 20,290,701. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.30. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16. The firm has a 50 day moving average of $38.71 and a 200 day moving average of $40.14. The stock has a market cap of $157.97 billion, a P/E ratio of 10.48, a PEG ratio of 1.07 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The business had revenue of $29.69 billion during the quarter, compared to the consensus estimate of $30.02 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. The business’s revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts forecast that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.31 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.08%. Comcast’s dividend payout ratio is presently 32.80%.

Wall Street Analyst Weigh In

CMCSA has been the topic of several recent analyst reports. Evercore ISI reduced their price objective 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. Deutsche Bank Aktiengesellschaft decreased their price objective on Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Benchmark reiterated a “buy” rating and issued a $55.00 target price on shares of Comcast in a research note on Monday, May 13th. Macquarie reissued a “neutral” rating and issued a $40.00 price target on shares of Comcast in a research note on Wednesday, July 24th. Finally, BNP Paribas lowered shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price objective on the stock. in a report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $45.78.

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.