Creative planning reduces stock position in Comcast Co. (NASDAQ:CMCSA)

Creative Planning reduced its holdings in Comcast Co. (NASDAQ:CMCSA – Free Report) by 10.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 934,581 shares of the cable giant’s stock after selling 113,356 shares during the period. Creative Planning’s holdings in Comcast were worth $36,598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Aviso Wealth Management boosted its stake in Comcast by 44.6% in the second quarter. Aviso Wealth Management now owns 21,731 shares of the cable giant’s stock valued at $851,000 after buying an additional 6,698 shares during the period. Ascent Group LLC boosted its stake in Comcast by 6.6% in the second quarter. Ascent Group LLC now owns 62,262 shares of the cable giant’s stock valued at $2,438,000 after buying an additional 3,834 shares during the period. Bontempo Ohly Capital Mgmt LLC boosted its stake in Comcast by 0.8% in the second quarter. Bontempo Ohly Capital Mgmt LLC now owns 96,370 shares of the cable giant’s stock valued at $3,774,000 after buying an additional 734 shares during the period. SkyView Investment Advisors LLC boosted its stake in Comcast by 14.9% in the second quarter. SkyView Investment Advisors LLC now owns 11,821 shares of the cable giant’s stock valued at $463,000 after buying an additional 1,532 shares during the period. Finally, Kathmere Capital Management LLC boosted its stake in Comcast by 18.0% in the second quarter. Kathmere Capital Management LLC now owns 13,174 shares of the cable giant’s stock valued at $516,000 after buying an additional 2,010 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s shares.

Analysts set new price targets

CMCSA has been the subject of several research reports. Evercore ISI cut their price target on Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Macquarie reiterated a “neutral” rating and set a $40.00 price objective on shares of Comcast in a research note on Wednesday, July 24th. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 price objective on shares of Comcast in a research note on Wednesday, July 24th. Barclays reduced their price objective on Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Finally, Pivotal Research cut their price objective on Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $45.58, according to MarketBeat.com.

Check out our latest research report on Comcast

Comcast Price Performance

Comcast stock opened at $41.64 on Monday. Comcast Co. it has a 52-week low of $36.43 and a 52-week high of $47.11. The company has a 50-day simple moving average of $39.69 and a 200-day simple moving average of $39.57. 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 stock has a market cap of $163.38 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 1.08 and a beta of 1.01.

Comcast (NASDAQ:CMCSA – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The firm had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. During the same period in the previous year, the business earned $1.13 EPS. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, research analysts expect that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast announces dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a $0.31 dividend. This represents a dividend of $1.24 on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Wednesday, October 2. Comcast’s payout ratio is currently 32.80%.

Comcast 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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