Yacktman Asset Management LP Reduces Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Yacktman Asset Management LP trimmed its holdings in Comcast Co. (NASDAQ:CMCSA) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,421,000 shares of the cable giant’s stock after selling 7,500 shares during the period. Yacktman Asset Management LP’s holdings in Comcast were worth $55,646,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CMCSA. Luken Investment Analytics LLC increased its stake in Comcast by 258.0% during the first quarter. Luken Investment Analytics LLC now owns 580 shares of the cable giant’s stock worth $25,000 after acquiring an additional 418 shares during the last quarter. Steph & Co. grew its stake in shares of Comcast by 154.6% in the first 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. OLD Point Trust & Financial Services N A purchased a new stake in shares of Comcast during the 4th quarter valued at about $28,000. IAG Wealth Partners LLC grew its position in Comcast by 204.7% in the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 522 shares in the last quarter. Finally, Pineridge Advisors LLC purchased a new stake in shares of Comcast during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CMCSA shares. KeyCorp reduced their price target on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Benchmark reiterated a “buy” rating and issued a $55.00 price target on shares of Comcast in a report on Monday, May 13th. BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price objective for the company. in a research report on Tuesday, June 11th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research report on Wednesday, July 24th. Finally, Evercore ISI reduced their price target on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $45.78.

Comcast Stock Performance

Shares of Comcast stock traded up $0.79 during midday trading on Thursday, hitting $39.46. The company had a trading volume of 7,802,593 shares, compared to its average volume of 19,929,018. 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 Co. has a 1-year low of $36.43 and a 1-year high of $47.11. The business’s 50 day simple moving average is $39.20 and its two-hundred day simple moving average is $39.86. The stock has a market cap of $154.83 billion, a PE ratio of 10.46, a P/E/G ratio of 1.05 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. The firm had revenue of $29.69 billion for the quarter, compared to the consensus estimate of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.13 earnings per share. As a group, equities analysts predict that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 3.14%. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

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.