Comcast Co. (NASDAQ:CMCSA) Shares Sold by Balentine LLC

Balentine LLC cut its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 89.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,050 shares of the cable giant’s stock after selling 74,321 shares during the period. Balentine LLC’s holdings in Comcast were worth $354,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CMCSA. Steph & Co. boosted its position in Comcast by 154.6% during the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after acquiring an additional 371 shares during the period. Strategic Financial Concepts LLC acquired a new position in Comcast during the second quarter worth $27,000. OLD Point Trust & Financial Services N A bought a new position in Comcast during the fourth quarter valued at about $28,000. IAG Wealth Partners LLC lifted its position in shares of Comcast by 204.7% in the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after buying an additional 522 shares during the last quarter. Finally, Pineridge Advisors LLC bought a new stake in shares of Comcast during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Rosenblatt Securities restated a “neutral” rating and issued a $45.00 target price on shares of Comcast in a report on Wednesday, July 24th. The Goldman Sachs Group assumed coverage on shares of Comcast in a research report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price target on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Evercore ISI dropped their target price on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Finally, Barclays decreased their price target 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 research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $45.78.

Comcast Stock Up 0.3 %

NASDAQ:CMCSA opened at $39.72 on Tuesday. The firm has a market capitalization of $153.82 billion, a P/E ratio of 10.51, a P/E/G 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 stock’s fifty day simple moving average is $39.27 and its 200-day simple moving average is $39.80. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The business had revenue of $29.69 billion during the quarter, compared to analyst estimates of $30.02 billion. During the same period in the previous year, the firm earned $1.13 EPS. Comcast’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities research analysts expect that Comcast Co. will post 4.23 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 23rd. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 3.12%. Comcast’s payout ratio is 32.80%.

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.