McLean Asset Management Corp Sells 726 Shares of Comcast Co. (NASDAQ:CMCSA)

McLean Asset Management Corp cut its position in shares of Comcast Co. (NASDAQ:CMCSA) by 7.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,074 shares of the cable giant’s stock after selling 726 shares during the quarter. McLean Asset Management Corp’s holdings in Comcast were worth $364,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Ridgewood Investments LLC boosted its holdings in Comcast by 19.5% during the 1st quarter. Ridgewood Investments LLC now owns 35,023 shares of the cable giant’s stock valued at $1,518,000 after acquiring an additional 5,709 shares during the period. First National Bank of Mount Dora Trust Investment Services lifted its holdings in Comcast by 11.5% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 166,487 shares of the cable giant’s stock worth $7,217,000 after buying an additional 17,186 shares during the period. Legacy Private Trust Co. lifted its holdings in Comcast by 5.1% in the 1st quarter. Legacy Private Trust Co. now owns 45,249 shares of the cable giant’s stock worth $1,962,000 after buying an additional 2,207 shares during the period. Signal Advisors Wealth LLC lifted its holdings in Comcast by 11.1% in the 1st quarter. Signal Advisors Wealth LLC now owns 23,609 shares of the cable giant’s stock worth $1,023,000 after buying an additional 2,350 shares during the period. Finally, Perpetual Ltd lifted its holdings in Comcast by 2.7% in the 1st quarter. Perpetual Ltd now owns 1,332,085 shares of the cable giant’s stock worth $57,746,000 after buying an additional 35,243 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Performance

Shares of CMCSA traded up $0.63 during trading hours on Friday, hitting $38.48. The stock had a trading volume of 49,146,763 shares, compared to its average volume of 20,557,305. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.46. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a fifty day moving average price of $38.81 and a 200 day moving average price of $41.52. The firm has a market capitalization of $150.98 billion, a PE ratio of 10.18, a PEG ratio of 0.92 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.06. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The firm had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. Analysts anticipate that Comcast Co. will post 4.21 EPS for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.24 annualized dividend and a yield of 3.22%. Comcast’s payout ratio is currently 32.80%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wells Fargo & Company dropped their price objective on Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Benchmark restated a “buy” rating and issued a $55.00 target price on shares of Comcast in a research note on Monday, May 13th. Oppenheimer restated an “outperform” rating and issued a $55.00 target price on shares of Comcast in a research note on Wednesday, April 3rd. Citigroup lowered their target price on Comcast from $53.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Finally, Evercore ISI restated an “outperform” rating and issued a $50.00 target price on shares of Comcast in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.83.

Insiders Place Their Bets

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the sale, the insider now directly owns 2,000,000 shares of the company’s stock, valued at $6,380,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.26% of the stock is currently owned by insiders.

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.