Main Street Financial Solutions LLC Cuts Stock Position in Comcast Co. (NASDAQ:CMCSA)

Main Street Financial Solutions LLC cut its position in Comcast Co. (NASDAQ:CMCSA) by 15.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,004 shares of the cable giant’s stock after selling 3,811 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Comcast were worth $877,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CMCSA. Fairscale Capital LLC purchased a new position in Comcast during the 2nd quarter worth $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Comcast during the second quarter worth about $27,000. IAG Wealth Partners LLC increased its holdings in shares of Comcast by 204.7% during the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 522 shares in the last quarter. McClarren Financial Advisors Inc. raised its position in shares of Comcast by 365.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 570 shares during the last quarter. Finally, Archer Investment Corp boosted its stake in Comcast by 177.1% in the 2nd quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after purchasing an additional 519 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CMCSA has been the subject of a number of research analyst reports. StockNews.com lowered Comcast from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. Scotiabank upgraded Comcast from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $47.75 to $48.00 in a research note on Friday, November 1st. Benchmark reiterated a “buy” rating and issued a $55.00 target price on shares of Comcast in a research report on Wednesday, October 30th. Wells Fargo & Company increased their price target on shares of Comcast from $43.00 to $46.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, Pivotal Research lifted their price objective on shares of Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $46.75.

Comcast Price Performance

Comcast stock opened at $43.91 on Thursday. The company has a fifty day simple moving average of $41.36 and a 200-day simple moving average of $39.79. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $168.02 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.67 and a beta of 1.00. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, beating the consensus estimate of $1.06 by $0.06. The firm had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 earnings per share. On average, equities analysts anticipate that Comcast Co. will post 4.25 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be given a $0.31 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a yield of 2.82%. Comcast’s dividend payout ratio is currently 33.33%.

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.