Cornerstone Advisors LLC Sells 3,000 Shares of Comcast Co. (NASDAQ:CMCSA)

Cornerstone Advisors LLC reduced its position in shares of Comcast Co. (NASDAQ:CMCSA) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,300 shares of the cable giant’s stock after selling 3,000 shares during the period. Cornerstone Advisors LLC’s holdings in Comcast were worth $7,648,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Capital World Investors increased its position in shares of Comcast by 17.0% in the fourth quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock valued at $4,725,926,000 after acquiring an additional 15,625,543 shares during the last quarter. Ontario Teachers Pension Plan Board grew its stake in Comcast by 25,881.7% in the first quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock valued at $470,391,000 after purchasing an additional 10,809,231 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Comcast by 41.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock worth $1,214,512,000 after purchasing an additional 8,243,302 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Comcast by 80.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock worth $457,007,000 after purchasing an additional 4,714,586 shares in the last quarter. Finally, Morningstar Investment Services LLC boosted its holdings in shares of Comcast by 116.8% in the 4th quarter. Morningstar Investment Services LLC now owns 5,145,838 shares of the cable giant’s stock valued at $227,034,000 after buying an additional 2,772,190 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Performance

NASDAQ CMCSA opened at $39.55 on Monday. Comcast Co. has a 1 year low of $36.43 and a 1 year high of $47.11. The firm has a market capitalization of $153.16 billion, a price-to-earnings ratio of 10.46, a P/E/G ratio of 1.03 and a beta of 1.01. 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’s 50 day simple moving average is $39.36 and its 200 day simple moving average is $39.72.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, beating 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 company had revenue of $29.69 billion for the quarter, compared to analyst estimates of $30.02 billion. During the same quarter last year, the company posted $1.13 EPS. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, research analysts expect that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a $0.31 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.14%. Comcast’s dividend payout ratio (DPR) is currently 32.80%.

Analyst Ratings Changes

CMCSA has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. KeyCorp dropped their target price on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Barclays lowered their price target on Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. BNP Paribas cut Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price objective for the company. in a research report on Tuesday, June 11th. Finally, Macquarie reiterated a “neutral” rating and set a $40.00 target price on shares of Comcast in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Comcast currently has an average rating of “Hold” and an average target price 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.