Northwestern Mutual Wealth Management Co. Cuts Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Northwestern Mutual Wealth Management Co. cut its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 55.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 422,603 shares of the cable giant’s stock after selling 531,275 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Comcast were worth $16,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CMCSA. Bollard Group LLC lifted its holdings in shares of Comcast by 0.7% in the 4th quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock valued at $1,622,000 after purchasing an additional 244 shares during the last quarter. Tortoise Investment Management LLC lifted its stake in Comcast by 4.5% in the fourth quarter. Tortoise Investment Management LLC now owns 5,801 shares of the cable giant’s stock valued at $254,000 after buying an additional 249 shares during the last quarter. Greenwich Wealth Management LLC boosted its holdings in shares of Comcast by 2.7% in the second quarter. Greenwich Wealth Management LLC now owns 9,754 shares of the cable giant’s stock valued at $382,000 after acquiring an additional 261 shares during the period. Verum Partners LLC grew its position in shares of Comcast by 4.9% during the second quarter. Verum Partners LLC now owns 5,663 shares of the cable giant’s stock worth $222,000 after acquiring an additional 267 shares during the last quarter. Finally, Mcdonald Partners LLC increased its holdings in shares of Comcast by 1.4% in the 1st quarter. Mcdonald Partners LLC now owns 19,591 shares of the cable giant’s stock valued at $849,000 after acquiring an additional 270 shares during the period. 84.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CMCSA shares. Macquarie reaffirmed a “neutral” rating and issued a $40.00 target price on shares of Comcast in a report on Wednesday, July 24th. KeyCorp decreased their price objective on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. The Goldman Sachs Group assumed coverage on Comcast in a research note on Tuesday, June 25th. They set a “buy” rating and a $44.00 price target for the company. Barclays decreased their price target on Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $45.58.

Comcast Stock Performance

Shares of CMCSA opened at $41.77 on Tuesday. The firm’s 50 day moving average is $39.73 and its 200-day moving average is $39.56. The stock has a market capitalization of $163.89 billion, a P/E ratio of 11.05, a P/E/G ratio of 1.08 and a beta of 1.01. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.11. 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 announced its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The business had revenue of $29.69 billion for the quarter, compared to analyst estimates of $30.02 billion. During the same quarter in the previous year, the firm posted $1.13 earnings per share. Comcast’s revenue was down 2.7% compared to the same quarter last year. Equities research analysts anticipate that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

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.