Comcast Co. (NASDAQ:CMCSA) Position Reduced by AE Wealth Management LLC

AE Wealth Management LLC decreased its position in shares of Comcast Co. (NASDAQ:CMCSA) by 3.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 582,878 shares of the cable giant’s stock after selling 17,833 shares during the period. AE Wealth Management LLC’s holdings in Comcast were worth $22,825,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMCSA. Capital World Investors increased its holdings in shares of Comcast by 17.0% in the fourth quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock valued at $4,725,926,000 after buying an additional 15,625,543 shares in the last quarter. Ontario Teachers Pension Plan Board increased its holdings in shares of Comcast by 25,881.7% in the first quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock valued at $470,391,000 after buying an additional 10,809,231 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Comcast by 41.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock valued at $1,214,512,000 after buying an additional 8,243,302 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Comcast by 80.9% in the first quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock valued at $457,007,000 after buying an additional 4,714,586 shares in the last quarter. Finally, Morningstar Investment Services LLC increased its holdings in shares of Comcast by 116.8% in the fourth quarter. Morningstar Investment Services LLC now owns 5,145,838 shares of the cable giant’s stock valued at $227,034,000 after buying an additional 2,772,190 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Up 1.1 %

Comcast stock opened at $40.27 on Friday. The firm has a market cap of $158.00 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 1.03 and a beta of 1.01. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.11. The firm has a fifty day moving average price of $39.53 and a two-hundred day moving average price of $39.68.

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

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s dividend payout ratio is currently 32.80%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CMCSA shares. BNP Paribas cut shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price objective on the stock. in a research report on Tuesday, June 11th. Seaport Res Ptn cut shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Macquarie reiterated a “neutral” rating and set a $40.00 price objective on shares of Comcast in a research report on Wednesday, July 24th. Finally, KeyCorp lowered their price objective on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Comcast currently has an average rating of “Hold” and a consensus price target of $45.78.

Comcast Company Profile

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.