Comcast Co. (NASDAQ:CMCSA) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 4.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,170,580 shares of the cable giant’s stock after selling 57,125 shares during the quarter. Gabelli Funds LLC’s holdings in Comcast were worth $45,840,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Steph & Co. raised its holdings in Comcast by 154.6% during the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after purchasing an additional 371 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new position in shares of Comcast during the 4th quarter worth approximately $28,000. Pineridge Advisors LLC acquired a new stake in shares of Comcast in the 4th quarter valued at approximately $32,000. Financial Synergies Wealth Advisors Inc. boosted its stake in shares of Comcast by 336.9% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock valued at $33,000 after buying an additional 593 shares in the last quarter. Finally, IAG Wealth Partners LLC raised its position in Comcast by 204.7% in the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after acquiring an additional 522 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Down 0.4 %

CMCSA stock opened at $40.11 on Friday. Comcast Co. has a one year low of $36.43 and a one year high of $47.11. The stock has a market capitalization of $157.38 billion, a P/E ratio of 10.61, a PEG ratio of 1.03 and a beta of 1.01. The company has a 50 day moving average price of $39.57 and a two-hundred day moving average price of $39.65. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66.

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

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 3.09%. Comcast’s payout ratio is 32.80%.

Analyst Upgrades and Downgrades

CMCSA has been the topic of several research analyst reports. KeyCorp decreased their target price 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. Deutsche Bank Aktiengesellschaft lowered their target price 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. Barclays reduced their price target on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Seaport Res Ptn cut Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. Finally, Pivotal Research reduced their price objective on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $45.78.

Comcast 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.