Pacer Advisors Inc. Sells 33,319 Shares of Comcast Co. (NASDAQ:CMCSA)

Pacer Advisors Inc. reduced its position in Comcast Co. (NASDAQ:CMCSA) by 6.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 464,343 shares of the cable giant’s stock after selling 33,319 shares during the period. Pacer Advisors Inc.’s holdings in Comcast were worth $18,184,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CMCSA. Steph & Co. grew its position in shares of Comcast by 154.6% in the first 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 bought a new stake in shares of Comcast during the second quarter valued at about $27,000. OLD Point Trust & Financial Services N A purchased a new stake in shares of Comcast in the fourth quarter worth about $28,000. IAG Wealth Partners LLC boosted its position in shares of 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 during the period. Finally, Pineridge Advisors LLC purchased a new position in Comcast during the fourth quarter valued at approximately $32,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Trading Down 0.4 %

Shares of CMCSA stock opened at $40.11 on Monday. The business has a 50-day moving average of $39.57 and a 200 day moving average of $39.63. 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 Co. has a 1-year low of $36.43 and a 1-year high of $47.11. The stock has a market capitalization 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 issued its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 12.46% and a return on equity of 20.17%. The business’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the business earned $1.13 earnings per share. As a group, sell-side analysts anticipate that Comcast Co. will post 4.23 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued 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 yield of 3.09%. Comcast’s dividend payout ratio is presently 32.80%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. KeyCorp cut 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. Evercore ISI decreased their target price on Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Barclays lowered their price target on Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. Rosenblatt Securities reissued a “neutral” rating and set a $45.00 price objective on shares of Comcast in a report on Wednesday, July 24th. Finally, Macquarie reiterated a “neutral” rating and set a $40.00 target price on shares of Comcast in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average 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.