3Chopt Investment Partners LLC Cuts Position in Comcast Co. (NASDAQ:CMCSA)

3Chopt Investment Partners LLC lowered its holdings in Comcast Co. (NASDAQ:CMCSA) by 18.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,713 shares of the cable giant’s stock after selling 8,196 shares during the period. 3Chopt Investment Partners LLC’s holdings in Comcast were worth $1,399,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CMCSA. Steph & Co. lifted its holdings in Comcast by 154.6% in the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after buying an additional 371 shares in the last quarter. Fairscale Capital LLC bought a new stake in shares of Comcast in the second quarter worth $26,000. Strategic Financial Concepts LLC bought a new position in Comcast during the 2nd quarter valued at $27,000. OLD Point Trust & Financial Services N A acquired a new position in Comcast during the 4th quarter worth $28,000. Finally, IAG Wealth Partners LLC increased its position in shares of Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after purchasing an additional 522 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CMCSA. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 target price on shares of Comcast in a research note on Wednesday, July 24th. BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 target price for the company. in a report on Tuesday, June 11th. The Goldman Sachs Group began coverage on Comcast in a report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price target on the stock. Seaport Res Ptn lowered Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 24th. Finally, StockNews.com lowered shares of Comcast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Comcast has a consensus rating of “Hold” and an average price target of $45.58.

Comcast Price Performance

NASDAQ CMCSA opened at $41.77 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market capitalization 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 company has a 50 day simple moving average of $39.73 and a 200-day simple moving average of $39.56. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11.

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 the consensus estimate of $1.12 by $0.09. The company had revenue of $29.69 billion for 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%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 EPS. Equities research analysts predict that Comcast Co. will post 4.23 earnings per share 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. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a yield of 2.97%. Comcast’s dividend payout ratio (DPR) is currently 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.