Ballentine Partners LLC has $1.86 million in Comcast Co. stock position. (NASDAQ:CMCSA)

Ballentine Partners LLC reduced its stake in shares of Comcast Co. (NASDAQ:CMCSA – Free Report) by 11.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,454 shares of the cable giant’s stock after selling 6,011 shares during the period. Ballentine Partners LLC’s holdings in Comcast were worth $1,858,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Steph & Co. lifted its holdings 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 during the last quarter. Strategic Financial Concepts LLC purchased a new stake in Comcast in the second quarter valued at about $27,000. OLD Point Trust & Financial Services NA bought a new position in shares of Comcast during the fourth quarter valued at approximately $28,000. IAG Wealth Partners LLC boosted its holdings in shares of 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 acquired a new stake in shares of Comcast during the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 84.32% of the company’s shares.

Analysts on Wall Street are forecasting an increase

Several research firms have weighed in on CMCSA. Macquarie reissued a “neutral” rating and issued a $40.00 price objective on shares of Comcast in a research report on Wednesday, July 24th. KeyCorp cut their price target on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Seaport Res Ptn cut shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 24th. Goldman Sachs Group began coverage on shares of Comcast in a research report on Tuesday, June 25th. They set a “buy” rating and a $44.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Comcast has a consensus rating of “Hold” and a consensus price target of $45.78.

Check out the latest stock report on Comcast

Comcast stock performance

NASDAQ:CMCSA opened at $39.61 on Monday. The stock has a market cap of $153.39 billion, a P/E ratio of 10.48, a PEG ratio of 1.05 and a beta of 1.01. The company has a quick ratio of 0.66, a current ratio of 0.66, and a debt-to-equity ratio of 1.16. The company’s 50-day moving average price is $39.24, and its two-hundred-day moving average price is $39.82. Comcast Co. it has a twelve month low of $36.43 and a twelve month high of $47.11.

Comcast (NASDAQ:CMCSA – Get Your Free Report ) last announced its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. The business had revenue of $29.69 billion during the quarter, compared to analyst estimates of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. Comcast’s revenue for the quarter was down 2.7% on a year-over-year basis. In the same period last year, the business posted earnings of $1.13 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. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.31 per share. This represents an annualized dividend of $1.24 and a yield of 3.13%. The ex-dividend date of this dividend is Wednesday, October 2. Comcast’s dividend payout ratio (DPR) is currently 32.80%.

Comcast Company Profile

(Free report)

Comcast Corporation operates as a global media and technology company. It operates through the segments of residential connectivity and platforms, connectivity for business services, media, studios and theme parks. The Residential Connectivity and Platforms segment offers residential broadband and wireless connectivity services, residential and business video services, Sky-branded entertainment television networks and advertising.

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