Park Place Capital Corp Sells 305 Shares of Comcast Co. (NASDAQ:CMCSA)

Park Place Capital Corp reduced its position in Comcast Co. (NASDAQ:CMCSA) by 6.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,356 shares of the cable giant’s stock after selling 305 shares during the quarter. Park Place Capital Corp’s holdings in Comcast were worth $189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Claro Advisors LLC boosted its position in shares of Comcast by 17.9% during the first quarter. Claro Advisors LLC now owns 18,868 shares of the cable giant’s stock worth $818,000 after acquiring an additional 2,870 shares during the last quarter. Kowal Investment Group LLC boosted its position in shares of Comcast by 9.8% during the first quarter. Kowal Investment Group LLC now owns 9,968 shares of the cable giant’s stock worth $432,000 after acquiring an additional 887 shares during the last quarter. Horizon Wealth Management LLC bought a new position in shares of Comcast during the first quarter worth $209,000. BKM Wealth Management LLC boosted its position in shares of Comcast by 24.1% during the first quarter. BKM Wealth Management LLC now owns 29,287 shares of the cable giant’s stock worth $1,270,000 after acquiring an additional 5,693 shares during the last quarter. Finally, Wolff Wiese Magana LLC boosted its position in shares of Comcast by 6.2% during the first quarter. Wolff Wiese Magana LLC now owns 25,082 shares of the cable giant’s stock worth $1,087,000 after acquiring an additional 1,460 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the completion of the transaction, the insider now directly owns 2,000,000 shares in the company, valued at $6,380,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CMCSA shares. Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 price target on shares of Comcast in a research note on Friday, April 26th. Seaport Res Ptn downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. Wells Fargo & Company decreased their price target on shares of Comcast from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. BNP Paribas downgraded shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target on the stock. in a research note on Tuesday, June 11th. Finally, The Goldman Sachs Group started coverage on shares of Comcast in a research note on Tuesday, June 25th. They issued a “buy” rating and a $44.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $48.62.

Comcast Stock Performance

Shares of Comcast stock traded down $0.99 during midday trading on Monday, hitting $38.17. The company had a trading volume of 16,898,396 shares, compared to its average volume of 20,640,977. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.46. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13. The stock has a market cap of $149.76 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.98 and a beta of 1.00. The company has a fifty day simple moving average of $38.71 and a 200 day simple moving average of $41.37.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The firm had revenue of $30.06 billion during the quarter, compared to analysts’ expectations of $29.83 billion. During the same period in the previous year, the business posted $0.92 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. As a group, analysts predict that Comcast Co. will post 4.21 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Wednesday, July 3rd. Comcast’s dividend payout ratio is presently 32.80%.

About Comcast

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.