Meritage Portfolio Management Sells 796 Shares of Comcast Corporation $CMCSA

Meritage Portfolio Management lowered its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 119,726 shares of the cable giant’s stock after selling 796 shares during the quarter. Meritage Portfolio Management’s holdings in Comcast were worth $4,273,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CMCSA. QRG Capital Management Inc. lifted its holdings in shares of Comcast by 13.0% in the 2nd quarter. QRG Capital Management Inc. now owns 724,760 shares of the cable giant’s stock worth $25,867,000 after buying an additional 83,631 shares during the period. Advisor OS LLC lifted its holdings in shares of Comcast by 33.2% in the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock worth $1,308,000 after buying an additional 8,841 shares during the period. Resona Asset Management Co. Ltd. lifted its holdings in shares of Comcast by 10.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant’s stock worth $47,254,000 after buying an additional 118,839 shares during the period. OMNI 360 Wealth Inc. purchased a new stake in shares of Comcast in the 1st quarter worth $335,000. Finally, DAVENPORT & Co LLC lifted its holdings in shares of Comcast by 41.7% in the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant’s stock worth $157,766,000 after buying an additional 1,261,278 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Down 2.1%

Shares of NASDAQ CMCSA opened at $29.46 on Friday. The stock has a market cap of $108.77 billion, a PE ratio of 4.87, a price-to-earnings-growth ratio of 1.74 and a beta of 0.94. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a 52-week low of $29.42 and a 52-week high of $45.31. The business has a 50-day moving average price of $32.48 and a 200 day moving average price of $33.93.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. The firm had revenue of $30.34 billion during the quarter. Comcast had a return on equity of 18.86% and a net margin of 18.44%. Equities research analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.5%. Comcast’s dividend payout ratio is 21.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Bank of America decreased their price objective on Comcast from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, September 29th. Rosenblatt Securities upped their price objective on Comcast from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, August 4th. Citigroup restated a “buy” rating on shares of Comcast in a research note on Tuesday, August 26th. The Goldman Sachs Group decreased their price objective on Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. Finally, Loop Capital reduced their target price on Comcast from $44.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $39.94.

Comcast 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.