AdvisorNet Financial Inc decreased its position in shares of Comcast Co. (NASDAQ:CMCSA – Get Rating) by 2.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 16,400 shares of the cable giant’s stock after selling 471 shares during the quarter. AdvisorNet Financial Inc’s holdings in Comcast were worth $644,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Rise Advisors LLC acquired a new stake in Comcast in the fourth quarter worth about $36,000. Exane Derivatives lifted its holdings in Comcast by 566.7% in the first quarter. Exane Derivatives now owns 900 shares of the cable giant’s stock worth $42,000 after purchasing an additional 765 shares during the period. Pacifica Partners Inc. lifted its holdings in Comcast by 33.8% in the first quarter. Pacifica Partners Inc. now owns 989 shares of the cable giant’s stock worth $46,000 after purchasing an additional 250 shares during the period. Disciplined Investments LLC lifted its holdings in Comcast by 47.8% in the first quarter. Disciplined Investments LLC now owns 1,011 shares of the cable giant’s stock worth $47,000 after purchasing an additional 327 shares during the period. Finally, Parkside Investments LLC acquired a new stake in Comcast in the first quarter worth about $48,000. Institutional investors and hedge funds own 82.80% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have commented on the stock. Wells Fargo & Company dropped their price target on shares of Comcast from $37.00 to $36.00 and set an “underweight” rating on the stock in a research report on Monday, September 12th. Redburn Partners cut shares of Comcast from a “buy” rating to a “neutral” rating in a research report on Friday, August 5th. TD Securities boosted their price target on shares of Comcast from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Macquarie cut shares of Comcast from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $40.00 to $33.00 in a research report on Friday, July 29th. Finally, Raymond James reiterated a “hold” rating on shares of Comcast in a research report on Friday, July 8th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $51.75.
Comcast Price Performance
Comcast (NASDAQ:CMCSA – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The cable giant reported $1.01 EPS for the quarter, beating the consensus estimate of $0.92 by $0.09. The business had revenue of $30.02 billion during the quarter, compared to analysts’ expectations of $29.72 billion. Comcast had a return on equity of 16.67% and a net margin of 11.54%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 EPS. Equities research analysts expect that Comcast Co. will post 3.62 EPS for the current fiscal year.
Comcast Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, October 4th. This represents a $1.08 annualized dividend and a dividend yield of 3.13%. Comcast’s payout ratio is 35.29%.
Comcast Company Profile
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.
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