Sompo Asset Management Co. Ltd. Decreases Stock Position in Comcast Co. (NASDAQ:CMCSA)

Sompo Asset Management Co. Ltd. lowered its position in shares of Comcast Co. (NASDAQ:CMCSA) by 3.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,580 shares of the cable giant’s stock after selling 480 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Comcast were worth $610,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Steph & Co. grew its stake in Comcast by 154.6% during the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after purchasing an additional 371 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Comcast during the second quarter worth approximately $27,000. OLD Point Trust & Financial Services N A bought a new stake in shares of Comcast in the fourth quarter worth $28,000. IAG Wealth Partners LLC raised its holdings in Comcast by 204.7% in the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 522 shares in the last quarter. Finally, Pineridge Advisors LLC acquired a new position in Comcast during the 4th quarter worth $32,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Stock Down 0.4 %

Shares of Comcast stock opened at $40.11 on Friday. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11. The company 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 business’s fifty day moving average price is $39.57 and its two-hundred day moving average price is $39.65. 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 (NASDAQ:CMCSA) last posted its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. The business had revenue of $29.69 billion during the quarter, compared to the consensus estimate of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.13 earnings per share. As a group, research analysts forecast that Comcast Co. will post 4.23 EPS for the current year.

Comcast Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CMCSA shares. Deutsche Bank Aktiengesellschaft cut their target price 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. StockNews.com lowered Comcast from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 13th. Macquarie reissued a “neutral” rating and set a $40.00 price target on shares of Comcast in a research report on Wednesday, July 24th. Rosenblatt Securities restated a “neutral” rating and set a $45.00 price objective on shares of Comcast in a research note on Wednesday, July 24th. Finally, KeyCorp lowered their target price on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $45.78.

About Comcast

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.