Narwhal Capital Management Reduces Holdings in Comcast Co. (NASDAQ:CMCSA)

Narwhal Capital Management trimmed its stake in Comcast Co. (NASDAQ:CMCSA) by 13.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 114,219 shares of the cable giant’s stock after selling 18,504 shares during the period. Narwhal Capital Management’s holdings in Comcast were worth $5,284,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Rockbridge Investment Management LCC purchased a new stake in shares of Comcast during the second quarter valued at about $29,000. Asset Advisors Investment Management LLC purchased a new position in shares of Comcast in the 2nd quarter valued at approximately $32,000. Financial Management Professionals Inc. purchased a new position in shares of Comcast in the 2nd quarter valued at approximately $33,000. Evolution Wealth Advisors LLC raised its position in shares of Comcast by 68.5% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 841 shares of the cable giant’s stock valued at $33,000 after purchasing an additional 342 shares during the last quarter. Finally, Campbell Wealth Management purchased a new position in shares of Comcast in the 2nd quarter valued at approximately $39,000. 82.80% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently commented on CMCSA shares. Sanford C. Bernstein raised shares of Comcast from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $48.00 to $52.00 in a research report on Wednesday, July 1st. BidaskClub downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 3rd. Benchmark increased their price target on shares of Comcast from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, September 22nd. They noted that the move was a valuation call. Barclays increased their price target on shares of Comcast from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, October 16th. Finally, Morgan Stanley increased their price target on shares of Comcast from $49.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, October 16th. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Comcast has an average rating of “Buy” and a consensus price target of $49.55.

Shares of NASDAQ:CMCSA opened at $43.44 on Wednesday. The business has a 50-day moving average price of $45.27 and a 200 day moving average price of $41.57. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $198.44 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.87 and a beta of 0.93. Comcast Co. has a 12-month low of $31.70 and a 12-month high of $47.74.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, July 30th. The cable giant reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.14. The firm had revenue of $23.72 billion during the quarter, compared to the consensus estimate of $23.56 billion. Comcast had a return on equity of 16.66% and a net margin of 10.91%. The company’s quarterly revenue was down 11.7% on a year-over-year basis. During the same period last year, the company earned $0.78 EPS. As a group, equities research analysts predict that Comcast Co. will post 2.47 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Tuesday, October 6th. Comcast’s dividend payout ratio is presently 29.39%.

In other news, CEO Jeff Shell sold 99,484 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $42.91, for a total transaction of $4,268,858.44. Insiders own 1.14% of the company’s stock.

Comcast 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, wireless, and security and automation services to residential and business customers under the Xfinity brand; and advertising services.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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