Lumbard & Kellner LLC cut its holdings in Comcast Co. (NASDAQ:CMCSA) by 22.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,529 shares of the cable giant’s stock after selling 3,100 shares during the period. Lumbard & Kellner LLC’s holdings in Comcast were worth $421,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. PDS Planning Inc purchased a new stake in shares of Comcast during the first quarter worth $226,000. Resources Investment Advisors Inc. increased its stake in Comcast by 26.1% in the fourth quarter. Resources Investment Advisors Inc. now owns 5,395 shares of the cable giant’s stock valued at $184,000 after acquiring an additional 1,117 shares during the last quarter. National Asset Management Inc. increased its stake in Comcast by 5.3% in the fourth quarter. National Asset Management Inc. now owns 55,899 shares of the cable giant’s stock valued at $1,906,000 after acquiring an additional 2,831 shares during the last quarter. Haverford Trust Co. increased its stake in Comcast by 0.3% in the fourth quarter. Haverford Trust Co. now owns 3,110,244 shares of the cable giant’s stock valued at $105,904,000 after acquiring an additional 8,001 shares during the last quarter. Finally, Lee Capital Holdings LLC increased its stake in Comcast by 352.0% in the fourth quarter. Lee Capital Holdings LLC now owns 27,000 shares of the cable giant’s stock valued at $919,000 after acquiring an additional 21,026 shares during the last quarter. 82.57% of the stock is owned by institutional investors.
Shares of NASDAQ:CMCSA opened at $42.31 on Monday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.38. The stock has a market cap of $192.02 billion, a PE ratio of 16.59, a P/E/G ratio of 1.18 and a beta of 1.11. Comcast Co. has a 12-month low of $32.08 and a 12-month high of $43.96.
Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, April 25th. The cable giant reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.08. The company had revenue of $26.86 billion during the quarter, compared to analyst estimates of $27.27 billion. Comcast had a net margin of 12.34% and a return on equity of 17.04%. Comcast’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 earnings per share. As a group, analysts anticipate that Comcast Co. will post 3.02 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 3rd will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.99%. Comcast’s dividend payout ratio is currently 32.94%.
In other news, EVP Stephen B. Burke sold 457,633 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $43.35, for a total transaction of $19,838,390.55. Following the completion of the sale, the executive vice president now directly owns 1,078,189 shares in the company, valued at $46,739,493.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Daniel C. Murdock sold 1,701 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $41.46, for a total transaction of $70,523.46. Following the sale, the senior vice president now owns 4,712 shares of the company’s stock, valued at $195,359.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 848,352 shares of company stock valued at $35,443,780. 1.35% of the stock is currently owned by company insiders.
A number of research analysts recently commented on CMCSA shares. BidaskClub raised Comcast from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. Royal Bank of Canada cut Comcast from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $45.00 to $42.00 in a research note on Friday, March 29th. Macquarie raised Comcast from a “neutral” rating to an “outperform” rating and set a $49.00 target price on the stock in a research note on Tuesday, April 9th. TD Securities raised their price objective on Comcast from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Finally, Guggenheim raised Comcast from a “neutral” rating to a “buy” rating and set a $42.31 price objective on the stock in a research note on Thursday, May 30th. Eight research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $43.68.
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Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.
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