Prestige Wealth Management Group LLC Sells 2,870 Shares of Comcast Co. (NASDAQ:CMCSA)

Prestige Wealth Management Group LLC lessened its position in shares of Comcast Co. (NASDAQ:CMCSA) by 9.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,795 shares of the cable giant’s stock after selling 2,870 shares during the period. Prestige Wealth Management Group LLC’s holdings in Comcast were worth $1,128,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors boosted its holdings in Comcast by 7.4% in the 1st quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock valued at $5,015,737,000 after purchasing an additional 7,929,963 shares during the period. Norges Bank bought a new stake in shares of Comcast in the fourth quarter valued at approximately $2,542,988,000. Price T Rowe Associates Inc. MD grew its position in Comcast by 41.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock worth $1,214,512,000 after buying an additional 8,243,302 shares in the last quarter. Harris Associates L P raised its holdings in Comcast by 10.9% in the 4th quarter. Harris Associates L P now owns 18,873,787 shares of the cable giant’s stock valued at $827,616,000 after acquiring an additional 1,854,671 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of Comcast by 3.4% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 11,304,304 shares of the cable giant’s stock valued at $495,694,000 after acquiring an additional 368,685 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Trading Down 0.5 %

CMCSA stock traded down $0.19 during mid-day trading on Friday, reaching $39.61. The company’s stock had a trading volume of 18,549,208 shares, compared to its average volume of 19,988,055. The company has a market cap of $155.41 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 1.05 and a beta of 1.01. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11. The business’s 50 day moving average price is $39.24 and its 200 day moving average price is $39.83. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16.

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

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.13%. The ex-dividend date is Wednesday, October 2nd. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CMCSA shares. StockNews.com upgraded shares of Comcast from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Macquarie reiterated a “neutral” rating and issued a $40.00 price target on shares of Comcast in a research note on Wednesday, July 24th. Pivotal Research dropped their price objective on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Evercore ISI decreased their target price on Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Finally, Barclays dropped their target price on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $45.78.

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.