Highland Capital Management LLC Has $2.24 Million Stock Position in Comcast Corporation $CMCSA

Highland Capital Management LLC reduced its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 25.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 62,817 shares of the cable giant’s stock after selling 21,211 shares during the period. Highland Capital Management LLC’s holdings in Comcast were worth $2,242,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Inlight Wealth Management LLC acquired a new stake in Comcast during the 1st quarter worth approximately $26,000. Cranbrook Wealth Management LLC raised its holdings in shares of Comcast by 86.0% in the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 350 shares during the last quarter. Global Trust Asset Management LLC raised its holdings in shares of Comcast by 906.8% in the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 671 shares during the last quarter. Abound Financial LLC acquired a new stake in shares of Comcast in the first quarter valued at approximately $29,000. Finally, Ransom Advisory Ltd acquired a new stake in shares of Comcast in the first quarter valued at approximately $29,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Price Performance

Shares of CMCSA opened at $30.90 on Friday. The company has a market cap of $114.09 billion, a price-to-earnings ratio of 5.11, a PEG ratio of 1.81 and a beta of 0.94. Comcast Corporation has a 1-year low of $30.38 and a 1-year high of $45.31. The company’s fifty day simple moving average is $32.73 and its 200 day simple moving average is $34.15. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm had revenue of $30.31 billion during the quarter, compared to analysts’ expectations of $29.81 billion. During the same period in the previous year, the business posted $1.21 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, research analysts forecast that Comcast Corporation will post 4.33 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, October 22nd. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s payout ratio is 21.82%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CMCSA. Sanford C. Bernstein lowered their price objective on shares of Comcast from $37.00 to $36.00 and set a “market perform” rating on the stock in a report on Wednesday, September 10th. Moffett Nathanson lifted their price objective on shares of Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday, September 12th. Royal Bank Of Canada assumed coverage on shares of Comcast in a report on Monday, September 8th. They issued a “sector perform” rating and a $38.00 price objective on the stock. UBS Group set a $43.00 target price on shares of Comcast in a report on Friday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Comcast in a report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Comcast presently has an average rating of “Hold” and an average price target of $40.26.

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.