World Asset Management Inc trimmed its holdings in Comcast Co. (NASDAQ:CMCSA) by 2.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 156,945 shares of the cable giant’s stock after selling 3,485 shares during the period. Comcast accounts for approximately 0.8% of World Asset Management Inc’s portfolio, making the stock its 19th largest position. World Asset Management Inc’s holdings in Comcast were worth $7,260,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Rockbridge Investment Management LCC purchased a new position in Comcast during the second quarter worth about $29,000. Asset Advisors Investment Management LLC acquired a new position in Comcast during the 2nd quarter worth approximately $32,000. Financial Management Professionals Inc. purchased a new position in shares of Comcast during the 2nd quarter worth approximately $33,000. Evolution Wealth Advisors LLC lifted its holdings in shares of Comcast by 68.5% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 841 shares of the cable giant’s stock valued at $33,000 after buying an additional 342 shares during the period. Finally, Disciplined Investments LLC lifted its holdings in shares of Comcast by 59.1% in the 1st quarter. Disciplined Investments LLC now owns 1,088 shares of the cable giant’s stock valued at $37,000 after buying an additional 404 shares during the period. Institutional investors and hedge funds own 82.80% of the company’s stock.
Several research firms have issued reports on CMCSA. Credit Suisse Group increased their price objective on Comcast from $50.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 23rd. BidaskClub downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 3rd. Pivotal Research boosted their price objective on shares of Comcast from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, September 16th. Sanford C. Bernstein raised shares of Comcast from a “market perform” rating to an “outperform” rating and increased their target price for the company from $48.00 to $52.00 in a report on Wednesday, July 1st. Finally, Morgan Stanley lifted their price target on shares of Comcast from $49.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, October 16th. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $50.18.
NASDAQ CMCSA traded down $0.05 during trading hours on Friday, reaching $45.06. The company’s stock had a trading volume of 10,529,350 shares, compared to its average volume of 22,120,633. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.25. The business has a 50-day simple moving average of $45.25 and a 200 day simple moving average of $41.40. Comcast Co. has a 52 week low of $31.70 and a 52 week high of $47.74. The stock has a market cap of $205.84 billion, a PE ratio of 18.10, a PEG ratio of 1.84 and a beta of 0.93.
Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, July 30th. The cable giant reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.14. Comcast had a return on equity of 16.66% and a net margin of 10.91%. The business had revenue of $23.72 billion for the quarter, compared to analysts’ expectations of $23.56 billion. During the same period in the prior year, the firm earned $0.78 EPS. The business’s quarterly revenue was down 11.7% on a year-over-year basis. As a group, equities analysts predict that Comcast Co. will post 2.47 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Tuesday, October 6th. Comcast’s dividend payout ratio is presently 29.39%.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, wireless, and security and automation services to residential and business customers under the Xfinity brand; and advertising services.
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