Stablepoint Partners LLC Sells 8,760 Shares of Comcast Co. (NASDAQ:CMCSA)

Stablepoint Partners LLC reduced its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 19.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,133 shares of the cable giant’s stock after selling 8,760 shares during the quarter. Stablepoint Partners LLC’s holdings in Comcast were worth $1,470,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Gries Financial LLC lifted its stake in shares of Comcast by 39.9% in the 2nd quarter. Gries Financial LLC now owns 70,806 shares of the cable giant’s stock valued at $2,773,000 after acquiring an additional 20,207 shares during the last quarter. Markel Group Inc. grew its holdings in shares of Comcast by 0.8% during the second quarter. Markel Group Inc. now owns 1,081,241 shares of the cable giant’s stock worth $42,341,000 after purchasing an additional 9,000 shares during the last quarter. Consolidated Planning Corp increased its stake in shares of Comcast by 26.9% in the second quarter. Consolidated Planning Corp now owns 12,710 shares of the cable giant’s stock valued at $498,000 after buying an additional 2,698 shares during the period. Larson Financial Group LLC increased its stake in shares of Comcast by 51.6% in the second quarter. Larson Financial Group LLC now owns 15,856 shares of the cable giant’s stock valued at $621,000 after buying an additional 5,399 shares during the period. Finally, Cozad Asset Management Inc. boosted its position in Comcast by 14.1% during the 2nd quarter. Cozad Asset Management Inc. now owns 5,547 shares of the cable giant’s stock worth $217,000 after buying an additional 684 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Trading Down 2.1 %

NASDAQ:CMCSA opened at $38.67 on Thursday. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11. The firm has a 50-day moving average price of $39.20 and a two-hundred day moving average price of $39.86. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market cap of $151.73 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 1.05 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last announced 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. The firm had revenue of $29.69 billion during the quarter, compared to the consensus estimate of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.13 EPS. On average, equities analysts expect that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s dividend payout ratio is currently 32.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target on the stock. in a research report on Tuesday, June 11th. Seaport Res Ptn lowered shares of Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. StockNews.com upgraded shares of Comcast from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. The Goldman Sachs Group assumed coverage on shares of Comcast in a research report on Tuesday, June 25th. They set a “buy” rating and a $44.00 price objective for the company. Finally, KeyCorp cut their price target on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Comcast presently 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.