Wealthquest Corp Sells 606 Shares of Comcast Co. (NASDAQ:CMCSA)

Wealthquest Corp lowered its position in Comcast Co. (NASDAQ:CMCSA) by 8.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,336 shares of the cable giant’s stock after selling 606 shares during the quarter. Wealthquest Corp’s holdings in Comcast were worth $248,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CMCSA. Steph & Co. raised its position in shares of 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 buying an additional 371 shares in the last quarter. Fairscale Capital LLC purchased a new position in shares of Comcast in the second quarter worth $26,000. Strategic Financial Concepts LLC bought a new stake in Comcast in the 2nd quarter worth $27,000. OLD Point Trust & Financial Services N A purchased a new stake in shares of Comcast during the fourth quarter worth about $28,000. Finally, IAG Wealth Partners LLC increased its holdings in Comcast by 204.7% during the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 522 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

Comcast stock opened at $41.77 on Tuesday. The stock has a market cap of $163.89 billion, a price-to-earnings ratio of 11.05, a price-to-earnings-growth ratio of 1.08 and a beta of 1.01. The firm has a 50-day moving average of $39.73 and a two-hundred day moving average of $39.56. Comcast Co. has a 1 year low of $36.43 and a 1 year 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, beating the consensus estimate of $1.12 by $0.09. The business had revenue of $29.69 billion for the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.13 EPS. On average, research analysts forecast that Comcast Co. will post 4.23 earnings per share for the current year.

Comcast Dividend Announcement

The business 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 dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a dividend yield of 2.97%. Comcast’s payout ratio is currently 32.80%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CMCSA shares. The Goldman Sachs Group began coverage on shares of Comcast in a research note on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price target for the company. Barclays dropped their price target on Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Macquarie reissued a “neutral” rating and issued a $40.00 target price on shares of Comcast in a research note on Wednesday, July 24th. KeyCorp lowered their price target on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Finally, StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Comcast has a consensus rating of “Hold” and an average price target of $45.58.

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.