Edge Capital Group LLC Decreases Stake in Comcast Co. (NASDAQ:CMCSA)

Edge Capital Group LLC cut its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 9.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,933 shares of the cable giant’s stock after selling 955 shares during the period. Edge Capital Group LLC’s holdings in Comcast were worth $350,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Capital World Investors grew its holdings in Comcast by 17.0% during the 4th quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock worth $4,725,926,000 after acquiring an additional 15,625,543 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its position in shares of Comcast by 25,881.7% during the first quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock worth $470,391,000 after purchasing an additional 10,809,231 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in 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 worth $1,214,512,000 after purchasing an additional 8,243,302 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in 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 during the last quarter. Finally, Morningstar Investment Services LLC raised its stake in Comcast by 116.8% during 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. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Trading Down 0.4 %

Shares of CMCSA stock opened at $40.11 on Monday. Comcast Co. has a 1 year low of $36.43 and a 1 year high of $47.11. The firm has a market capitalization of $157.38 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.03 and a beta of 1.01. The stock has a fifty day moving average of $39.57 and a two-hundred day moving average of $39.63. 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 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 expect that Comcast Co. will post 4.23 EPS for the current year.

Comcast Dividend Announcement

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

Wall Street Analyst Weigh In

CMCSA has been the subject of several research reports. 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. Seaport Res Ptn downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. The Goldman Sachs Group assumed coverage on shares of Comcast in a report on Tuesday, June 25th. They set a “buy” rating and a $44.00 target price on the stock. KeyCorp decreased their price target on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Finally, BNP Paribas lowered shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price objective on the stock. in a research note on Tuesday, June 11th. 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, Comcast currently has an average rating of “Hold” and an average target price 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.