Financial Management Professionals Inc. Sells 741 Shares of Comcast Co. (NASDAQ:CMCSA)

Financial Management Professionals Inc. cut its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 42.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,008 shares of the cable giant’s stock after selling 741 shares during the quarter. Financial Management Professionals Inc.’s holdings in Comcast were worth $44,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wealthspire Advisors LLC increased its position in shares of Comcast by 4.8% during the fourth quarter. Wealthspire Advisors LLC now owns 60,650 shares of the cable giant’s stock worth $2,659,000 after acquiring an additional 2,781 shares during the period. Everett Harris & Co. CA increased its holdings in Comcast by 7.7% during the fourth quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock valued at $73,993,000 after buying an additional 121,279 shares during the period. Desjardins Global Asset Management Inc. increased its holdings in Comcast by 1.5% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock valued at $4,438,000 after buying an additional 1,486 shares during the period. Brevan Howard Capital Management LP purchased a new position in Comcast during the fourth quarter valued at approximately $2,056,000. Finally, Axxcess Wealth Management LLC increased its holdings in Comcast by 10.5% during the fourth quarter. Axxcess Wealth Management LLC now owns 115,503 shares of the cable giant’s stock valued at $5,065,000 after buying an additional 10,936 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Stock Up 2.3 %

Shares of NASDAQ CMCSA opened at $39.16 on Friday. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.46. The stock has a market cap of $153.65 billion, a PE ratio of 10.36, a P/E/G ratio of 0.96 and a beta of 1.00. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.13. The company has a 50-day moving average of $38.71 and a 200 day moving average of $41.39.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The company had revenue of $30.06 billion during the quarter, compared to analysts’ expectations of $29.83 billion. During the same quarter in the prior year, the company earned $0.92 EPS. Comcast’s revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that Comcast Co. will post 4.21 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be issued a $0.31 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $1.24 annualized dividend and a yield of 3.17%. Comcast’s payout ratio is 32.80%.

Insider Buying and Selling at Comcast

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total value of $10,134,384.37. Following the transaction, the insider now directly owns 2,000,000 shares in the company, valued at approximately $6,380,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Comcast from $47.00 to $43.00 and set an “equal weight” rating on the stock 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. Citigroup lowered their target price on shares of Comcast from $53.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Finally, Seaport Res Ptn downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Comcast presently has a consensus rating of “Hold” and a consensus price target of $48.62.

Comcast Company 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.