Brookstone Capital Management Reduces Stake in Comcast Co. (NASDAQ:CMCSA)

Brookstone Capital Management lowered its stake in Comcast Co. (NASDAQ:CMCSAGet Rating) by 16.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 26,826 shares of the cable giant’s stock after selling 5,449 shares during the period. Brookstone Capital Management’s holdings in Comcast were worth $1,072,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CMCSA. Calton & Associates Inc. increased its position in shares of Comcast by 3.1% in the first quarter. Calton & Associates Inc. now owns 7,021 shares of the cable giant’s stock worth $328,000 after acquiring an additional 212 shares in the last quarter. Pacifica Partners Inc. grew its holdings in Comcast by 33.8% during the 1st quarter. Pacifica Partners Inc. now owns 989 shares of the cable giant’s stock valued at $46,000 after purchasing an additional 250 shares in the last quarter. Family Legacy Inc. grew its holdings in Comcast by 5.5% during the 1st quarter. Family Legacy Inc. now owns 4,816 shares of the cable giant’s stock valued at $225,000 after purchasing an additional 250 shares in the last quarter. Mascoma Wealth Management LLC grew its holdings in Comcast by 7.9% during the 1st quarter. Mascoma Wealth Management LLC now owns 3,491 shares of the cable giant’s stock valued at $163,000 after purchasing an additional 257 shares in the last quarter. Finally, Atticus Wealth Management LLC grew its holdings in Comcast by 9.0% during the 1st quarter. Atticus Wealth Management LLC now owns 3,119 shares of the cable giant’s stock valued at $146,000 after purchasing an additional 258 shares in the last quarter. Hedge funds and other institutional investors own 82.80% of the company’s stock.

Analyst Ratings Changes

CMCSA has been the subject of a number of recent analyst reports. Redburn Partners lowered shares of Comcast from a “buy” rating to a “neutral” rating in a report on Friday, August 5th. Pivotal Research decreased their price objective on shares of Comcast from $55.00 to $47.00 and set a “buy” rating for the company in a report on Friday, July 29th. Daiwa Capital Markets initiated coverage on shares of Comcast in a report on Friday, July 1st. They set an “outperform” rating and a $43.00 price objective for the company. Cowen decreased their price objective on shares of Comcast from $60.00 to $51.00 in a report on Friday, July 29th. Finally, Benchmark reduced their price target on shares of Comcast from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, June 2nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.75.

Comcast Stock Performance

CMCSA stock opened at $32.70 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $144.31 billion, a P/E ratio of 10.69, a P/E/G ratio of 0.70 and a beta of 0.90. The firm has a 50 day simple moving average of $37.87 and a 200 day simple moving average of $41.47. Comcast Co. has a 52 week low of $32.68 and a 52 week high of $57.96.

Comcast (NASDAQ:CMCSAGet Rating) last posted its earnings results on Thursday, July 28th. The cable giant reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.09. The firm had revenue of $30.02 billion during the quarter, compared to analysts’ expectations of $29.72 billion. Comcast had a net margin of 11.54% and a return on equity of 16.67%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 earnings per share. Research analysts anticipate that Comcast Co. will post 3.62 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Tuesday, October 4th. Comcast’s dividend payout ratio (DPR) is currently 35.29%.

Comcast Profile

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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.

See Also

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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