US Asset Management LLC Sells 519 Shares of Comcast Co. (NASDAQ:CMCSA)

US Asset Management LLC reduced its position in Comcast Co. (NASDAQ:CMCSA) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,624 shares of the cable giant’s stock after selling 519 shares during the period. US Asset Management LLC’s holdings in Comcast were worth $573,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Steph & Co. lifted its holdings in shares of Comcast by 154.6% in the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after purchasing an additional 371 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new position in Comcast during the 4th quarter worth $28,000. Pineridge Advisors LLC bought a new stake in Comcast in the 4th quarter worth about $32,000. Financial Synergies Wealth Advisors Inc. increased its position in shares of Comcast by 336.9% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock valued at $33,000 after acquiring an additional 593 shares during the last quarter. Finally, IAG Wealth Partners LLC raised its stake in shares of Comcast by 204.7% during the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after purchasing an additional 522 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on CMCSA shares. Evercore ISI dropped their price objective on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research note on Wednesday, July 24th. BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target for the company. in a research note on Tuesday, June 11th. Barclays decreased their price target on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Finally, Seaport Res Ptn cut shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Comcast has an average rating of “Hold” and a consensus price target of $45.78.

Comcast Stock Performance

Shares of CMCSA opened at $39.55 on Friday. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. The stock has a market cap of $153.16 billion, a P/E ratio of 10.46, a P/E/G ratio of 1.03 and a beta of 1.01. The business’s 50 day moving average price is $39.36 and its 200-day moving average price is $39.76.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. The company had revenue of $29.69 billion for 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%. Comcast’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.13 EPS. Equities research analysts anticipate that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business 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. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Wednesday, October 2nd. Comcast’s payout ratio 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.