Great Lakes Advisors LLC Trims Stake in Comcast Co. (NASDAQ:CMCSA)

Great Lakes Advisors LLC lessened its stake in Comcast Co. (NASDAQ:CMCSAFree Report) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,665,381 shares of the cable giant’s stock after selling 44,409 shares during the quarter. Comcast comprises about 1.1% of Great Lakes Advisors LLC’s investment portfolio, making the stock its 10th largest holding. Great Lakes Advisors LLC owned about 0.07% of Comcast worth $116,877,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. NewSquare Capital LLC lifted its holdings in Comcast by 94.1% during the third quarter. NewSquare Capital LLC now owns 623 shares of the cable giant’s stock worth $28,000 after acquiring an additional 302 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. raised its holdings in Comcast by 299.1% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock worth $28,000 after buying an additional 475,675 shares during the period. Tennessee Valley Asset Management Partners bought a new position in Comcast in the fourth quarter valued at approximately $34,000. Lipe & Dalton acquired a new stake in shares of Comcast during the fourth quarter worth $37,000. Finally, Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Comcast in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of Comcast stock traded down $0.10 during mid-day trading on Friday, hitting $39.27. 13,733,368 shares of the stock were exchanged, compared to its average volume of 21,923,466. The company has a 50-day simple moving average of $40.63 and a 200 day simple moving average of $42.16. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.46. The company has a market capitalization of $154.08 billion, a P/E ratio of 10.39, a P/E/G ratio of 0.98 and a beta of 0.99.

Comcast (NASDAQ:CMCSAGet Free Report) last released its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. The firm had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 earnings per share. Sell-side analysts anticipate that Comcast Co. will post 4.21 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 3rd will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.16%. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

Analyst Ratings Changes

A number of analysts recently issued reports on CMCSA shares. Wells Fargo & Company lowered their target price on Comcast from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Evercore ISI reissued an “outperform” rating and issued a $50.00 price objective on shares of Comcast in a report on Tuesday, March 26th. Redburn Atlantic lowered shares of Comcast from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $50.00 to $44.00 in a research note on Thursday, February 15th. Scotiabank cut their target price on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a research note on Friday, April 26th. Finally, Citigroup reduced their target price on Comcast from $53.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Comcast has an average rating of “Moderate Buy” and an average price target of $49.33.

Check Out Our Latest Stock Analysis on CMCSA

Comcast Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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