Comcast Corporation $CMCSA Shares Sold by Abacus Planning Group Inc.

Abacus Planning Group Inc. lowered its holdings in Comcast Corporation (NASDAQ:CMCSA) by 9.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,606 shares of the cable giant’s stock after selling 800 shares during the quarter. Abacus Planning Group Inc.’s holdings in Comcast were worth $271,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Dodge & Cox increased its position in shares of Comcast by 19.1% during the first quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant’s stock valued at $3,476,635,000 after acquiring an additional 15,115,074 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Comcast by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,636,264 shares of the cable giant’s stock valued at $1,240,955,000 after purchasing an additional 926,663 shares during the last quarter. Nuveen LLC purchased a new stake in Comcast in the first quarter valued at approximately $940,015,000. Harris Associates L P lifted its stake in Comcast by 0.5% during the first quarter. Harris Associates L P now owns 20,594,519 shares of the cable giant’s stock worth $759,938,000 after purchasing an additional 111,662 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its position in shares of Comcast by 2.2% during the first quarter. Raymond James Financial Inc. now owns 20,243,358 shares of the cable giant’s stock worth $746,980,000 after buying an additional 427,705 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Morgan Stanley cut their price objective on Comcast from $40.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, August 4th. Arete Research raised shares of Comcast to a “hold” rating in a research report on Tuesday, July 8th. The Goldman Sachs Group dropped their price objective on shares of Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. Citigroup reaffirmed a “buy” rating on shares of Comcast in a research note on Tuesday, August 26th. Finally, KeyCorp decreased their price target on shares of Comcast from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.26.

Comcast Stock Performance

Shares of CMCSA stock opened at $30.90 on Friday. The company has a market cap of $114.09 billion, a P/E ratio of 5.11, a PEG ratio of 1.78 and a beta of 0.94. The firm has a fifty day moving average price of $32.73 and a 200 day moving average price of $34.16. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a 12 month low of $30.38 and a 12 month high of $45.31.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The company had revenue of $30.31 billion for the quarter, compared to analysts’ expectations of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.Comcast’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $1.21 earnings per share. Sell-side analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 4.3%. Comcast’s payout ratio is presently 21.82%.

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.