Bank of Montreal Can Reduces Stock Position in Comcast Co. (NASDAQ:CMCSA)

Bank of Montreal Can decreased its position in Comcast Co. (NASDAQ:CMCSA) by 7.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,281,084 shares of the cable giant’s stock after selling 674,600 shares during the quarter. Bank of Montreal Can owned approximately 0.21% of Comcast worth $324,287,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Brevan Howard Capital Management LP bought a new stake in Comcast in the fourth quarter valued at $2,056,000. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Comcast by 3.4% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 11,304,304 shares of the cable giant’s stock valued at $495,694,000 after purchasing an additional 368,685 shares in the last quarter. Capital Investment Advisors LLC increased its position in shares of Comcast by 4.5% during the second quarter. Capital Investment Advisors LLC now owns 36,027 shares of the cable giant’s stock valued at $1,411,000 after buying an additional 1,550 shares during the period. First Hawaiian Bank raised its stake in Comcast by 8.9% in the second quarter. First Hawaiian Bank now owns 191,846 shares of the cable giant’s stock worth $7,513,000 after buying an additional 15,664 shares in the last quarter. Finally, Gilbert & Cook Inc. lifted its holdings in Comcast by 10.3% in the fourth quarter. Gilbert & Cook Inc. now owns 15,613 shares of the cable giant’s stock worth $685,000 after buying an additional 1,459 shares during the period. 84.32% of the stock is owned by institutional investors.

Comcast Stock Down 0.4 %

Comcast stock opened at $40.11 on Monday. The firm has a market cap of $157.38 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 1.03 and a beta of 1.01. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11. The stock has a fifty day simple moving average of $39.57 and a two-hundred day simple moving average of $39.63.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, topping 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 return on equity of 20.17% and a net margin of 12.46%. Comcast’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.13 EPS. Equities analysts predict that Comcast Co. will post 4.23 EPS for the current fiscal 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. This represents a $1.24 annualized dividend and a yield of 3.09%. The ex-dividend date is Wednesday, October 2nd. Comcast’s dividend payout ratio is currently 32.80%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CMCSA. Pivotal Research decreased their target price on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Rosenblatt Securities reiterated a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a report on Wednesday, July 24th. BNP Paribas cut shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 target price on the stock. in a report on Tuesday, June 11th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, KeyCorp dropped their price objective on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Comcast has a consensus rating of “Hold” and a consensus 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.