Wittenberg Investment Management Inc. decreased its position in shares of Comcast Co. (NASDAQ:CMCSA – Free Report) by 19.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,350 shares of the cable giant’s stock after selling 2,500 shares during the quarter. Wittenberg Investment Management Inc.’s holdings in Comcast were worth $430,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Caldwell Sutter Capital Inc. lifted its stake in Comcast by 852.1% in the second quarter. Caldwell Sutter Capital Inc. now owns 695 shares of the cable giant’s stock valued at $29,000 after buying an additional 622 shares during the period. Quilter Plc bought a new stake in shares of Comcast in the 1st quarter valued at $695,100,000. Kalos Management Inc. acquired a new position in shares of Comcast during the 1st quarter valued at $28,000. GW&K Investment Management LLC bought a new position in Comcast during the first quarter worth $29,000. Finally, WFA of San Diego LLC acquired a new stake in Comcast in the second quarter worth $32,000. Institutional investors and hedge funds own 82.85% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on CMCSA shares. Morgan Stanley upped their price objective on shares of Comcast from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, July 24th. KeyCorp increased their price target on Comcast from $46.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. Credit Suisse Group boosted their price objective on Comcast from $50.00 to $54.00 in a report on Thursday, July 27th. Seaport Res Ptn reiterated a “buy” rating on shares of Comcast in a report on Friday, October 6th. Finally, Bank of America boosted their price target on shares of Comcast from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Comcast has an average rating of “Moderate Buy” and a consensus price target of $49.43.
Comcast Stock Performance
Shares of Comcast stock traded down $0.40 during trading hours on Tuesday, hitting $42.54. 1,145,041 shares of the company’s stock traded hands, compared to its average volume of 18,695,830. The stock has a market capitalization of $171.23 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 1.05 and a beta of 1.06. Comcast Co. has a 12-month low of $33.78 and a 12-month high of $47.46. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. The company has a fifty day simple moving average of $43.38 and a 200-day simple moving average of $42.90.
Comcast (NASDAQ:CMCSA – Get Free Report) last posted its quarterly earnings data on Thursday, October 26th. The cable giant reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.14. The business had revenue of $30.12 billion during the quarter, compared to the consensus estimate of $29.69 billion. Comcast had a net margin of 12.54% and a return on equity of 19.97%. During the same quarter last year, the company posted $0.96 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts anticipate that Comcast Co. will post 3.92 EPS for the current fiscal year.
Comcast Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 3rd will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Tuesday, January 2nd. Comcast’s dividend payout ratio (DPR) is 32.13%.
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, advertising sales, and Sky channels.
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