Old Port Advisors Lowers Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Old Port Advisors reduced its position in Comcast Co. (NASDAQ:CMCSA) by 10.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,658 shares of the cable giant’s stock after selling 785 shares during the period. Old Port Advisors’ holdings in Comcast were worth $289,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CMCSA. Greenwich Wealth Management LLC boosted its position in Comcast by 2.6% during the 4th quarter. Greenwich Wealth Management LLC now owns 8,492 shares of the cable giant’s stock worth $372,000 after acquiring an additional 219 shares during the period. Legend Financial Advisors Inc. grew its position in Comcast by 17.5% in the 4th quarter. Legend Financial Advisors Inc. now owns 1,478 shares of the cable giant’s stock valued at $65,000 after buying an additional 220 shares in the last quarter. Beaumont Asset Management L.L.C. increased its stake in Comcast by 1.6% during the 4th quarter. Beaumont Asset Management L.L.C. now owns 14,141 shares of the cable giant’s stock valued at $620,000 after buying an additional 226 shares during the period. Keystone Financial Services raised its position in shares of Comcast by 1.1% during the 4th quarter. Keystone Financial Services now owns 20,432 shares of the cable giant’s stock worth $896,000 after buying an additional 229 shares in the last quarter. Finally, Bollard Group LLC lifted its stake in shares of Comcast by 0.7% in the 4th quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock worth $1,622,000 after acquiring an additional 244 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total value of $10,134,384.37. Following the sale, the insider now directly owns 2,000,000 shares in the company, valued at approximately $6,380,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CMCSA has been the topic of a number of research reports. Barclays dropped their price objective on Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Macquarie reiterated a “neutral” rating and set a $40.00 price target on shares of Comcast in a report on Wednesday, July 24th. Evercore ISI reduced their price target on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Citigroup lowered their price objective on shares of Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Comcast has an average rating of “Hold” and an average target price of $46.01.

Comcast Stock Performance

Shares of Comcast stock traded down $0.36 on Friday, reaching $39.90. The stock had a trading volume of 25,951,665 shares, compared to its average volume of 21,184,204. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.46. The business’s 50-day moving average price is $38.70 and its two-hundred day moving average price is $40.56. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market cap of $154.51 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 1.07 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. The company had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.13 earnings per share. On average, sell-side analysts forecast that Comcast Co. will post 4.23 EPS for the current year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.11%. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

About Comcast

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.