Perkins Coie Trust Co Sells 2,790 Shares of Comcast Co. (NASDAQ:CMCSA)

Perkins Coie Trust Co lessened its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 5.4% in the 1st quarter, Holdings Channel reports. The firm owned 49,285 shares of the cable giant’s stock after selling 2,790 shares during the period. Perkins Coie Trust Co’s holdings in Comcast were worth $1,818,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CMCSA. Capital World Investors lifted its holdings in shares of Comcast by 8.6% in the 4th quarter. Capital World Investors now owns 141,680,277 shares of the cable giant’s stock valued at $5,317,167,000 after acquiring an additional 11,255,683 shares during the last quarter. Norges Bank bought a new position in shares of Comcast in the 4th quarter valued at about $3,835,226,000. Geode Capital Management LLC lifted its holdings in shares of Comcast by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant’s stock valued at $3,212,244,000 after acquiring an additional 1,006,272 shares during the last quarter. Dodge & Cox raised its position in Comcast by 6.8% in the 4th quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant’s stock worth $2,968,723,000 after purchasing an additional 5,039,823 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Comcast by 12.0% in the 4th quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant’s stock worth $1,890,027,000 after purchasing an additional 5,402,377 shares during the period. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of CMCSA stock opened at $34.70 on Friday. The firm has a market cap of $129.56 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 1.78 and a beta of 0.95. The company’s 50 day moving average is $34.39 and its 200 day moving average is $36.43. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09. Comcast Co. has a 52-week low of $31.44 and a 52-week high of $45.31.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.08. The company had revenue of $29.89 billion for the quarter, compared to analyst estimates of $29.82 billion. Comcast had a net margin of 13.09% and a return on equity of 19.98%. Comcast’s revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $1.04 earnings per share. On average, sell-side analysts anticipate that Comcast Co. will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.80%. The ex-dividend date is Wednesday, July 2nd. Comcast’s payout ratio is 32.43%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CMCSA. Citigroup reduced their price objective on shares of Comcast from $44.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Oppenheimer reduced their price objective on shares of Comcast from $55.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Rosenblatt Securities reissued a “neutral” rating and issued a $36.00 price objective on shares of Comcast in a research report on Monday, April 28th. Barclays reduced their price objective on shares of Comcast from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. Finally, Wells Fargo & Company lowered shares of Comcast from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $37.00 to $31.00 in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Comcast presently has a consensus rating of “Moderate Buy” and an average target price of $42.10.

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.