First City Capital Management Inc. Cuts Stake in Comcast Co. (NASDAQ:CMCSA)

First City Capital Management Inc. trimmed its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 34.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,362 shares of the cable giant’s stock after selling 5,000 shares during the period. First City Capital Management Inc.’s holdings in Comcast were worth $367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Steph & Co. boosted its holdings in shares of Comcast by 154.6% in the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after buying an additional 371 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in Comcast in the second quarter valued at approximately $27,000. OLD Point Trust & Financial Services N A purchased a new position in Comcast in the fourth quarter worth $28,000. IAG Wealth Partners LLC increased its position in shares of Comcast by 204.7% during the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after purchasing an additional 522 shares in the last quarter. Finally, Pineridge Advisors LLC purchased a new stake in shares of Comcast during the 4th quarter valued at $32,000. Institutional investors own 84.32% of the company’s stock.

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 company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66. The firm’s fifty day moving average is $39.57 and its 200 day moving average is $39.65. The firm has a market cap of $157.38 billion, a PE ratio of 10.61, a P/E/G ratio of 1.03 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last posted its earnings results 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 firm had revenue of $29.69 billion for the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm earned $1.13 EPS. On average, research analysts forecast that Comcast Co. will post 4.23 EPS for the current year.

Comcast Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently issued reports on CMCSA. BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 target price on the stock. in a research report on Tuesday, June 11th. Macquarie reiterated a “neutral” rating and issued a $40.00 target price on shares of Comcast in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Evercore ISI lowered their price objective on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, KeyCorp cut their target price on Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.