CenturyLink Investment Management Co Reduces Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

CenturyLink Investment Management Co trimmed its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 14.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,322 shares of the cable giant’s stock after selling 2,258 shares during the quarter. CenturyLink Investment Management Co’s holdings in Comcast were worth $601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Commonwealth Equity Services LLC grew its stake in Comcast by 3.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 639,819 shares of the cable giant’s stock valued at $27,051,000 after purchasing an additional 19,495 shares during the last quarter. Chesley Taft & Associates LLC grew its stake in Comcast by 4.0% during the 2nd quarter. Chesley Taft & Associates LLC now owns 43,480 shares of the cable giant’s stock valued at $1,838,000 after purchasing an additional 1,675 shares during the last quarter. Cibc Bank USA grew its stake in Comcast by 23.1% during the 2nd quarter. Cibc Bank USA now owns 27,072 shares of the cable giant’s stock valued at $1,145,000 after purchasing an additional 5,079 shares during the last quarter. Cypress Capital Management LLC purchased a new stake in Comcast during the 2nd quarter valued at about $8,070,000. Finally, Crestline Management LP purchased a new stake in Comcast during the 2nd quarter valued at about $471,000. Hedge funds and other institutional investors own 82.82% of the company’s stock.

NASDAQ CMCSA opened at $45.60 on Thursday. The stock has a market capitalization of $205.57 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 1.24 and a beta of 1.08. Comcast Co. has a twelve month low of $32.61 and a twelve month high of $47.27. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.30. The stock has a 50-day moving average of $45.36 and a 200 day moving average of $43.33.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, July 25th. The cable giant reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. The company had revenue of $26.86 billion during the quarter, compared to analysts’ expectations of $27.08 billion. Comcast had a return on equity of 17.50% and a net margin of 11.64%. Comcast’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 EPS. Equities analysts predict that Comcast Co. will post 3.07 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.84 dividend on an annualized basis and a yield of 1.84%. Comcast’s payout ratio is 32.94%.

CMCSA has been the subject of several analyst reports. Morgan Stanley boosted their price objective on Comcast from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Cfra set a $50.00 price objective on Comcast and gave the company a “buy” rating in a report on Wednesday, August 21st. Macquarie initiated coverage on Comcast in a report on Wednesday, June 19th. They issued a “buy” rating and a $50.00 price objective for the company. Benchmark initiated coverage on Comcast in a report on Wednesday, September 25th. They issued a “buy” rating and a $64.00 price objective for the company. Finally, Wells Fargo & Co initiated coverage on Comcast in a report on Tuesday, August 27th. They issued an “outperform” rating and a $50.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $49.06.

In other news, Director Kenneth J. Bacon sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $45.03, for a total value of $180,120.00. Following the completion of the sale, the director now directly owns 29,603 shares in the company, valued at $1,333,023.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Daniel C. Murdock sold 848 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $44.23, for a total value of $37,507.04. Following the completion of the sale, the senior vice president now owns 3,419 shares of the company’s stock, valued at $151,222.37. The disclosure for this sale can be found here. Corporate insiders own 1.35% of the company’s stock.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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