Bridges Investment Management Inc. Cuts Stock Position in Comcast Corporation $CMCSA

Bridges Investment Management Inc. lessened its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 2.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 81,644 shares of the cable giant’s stock after selling 1,675 shares during the quarter. Bridges Investment Management Inc.’s holdings in Comcast were worth $2,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the business. Dodge & Cox raised its position in Comcast by 19.1% in the first quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant’s stock worth $3,476,635,000 after acquiring an additional 15,115,074 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Comcast by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,636,264 shares of the cable giant’s stock worth $1,240,955,000 after acquiring an additional 926,663 shares in the last quarter. Nuveen LLC purchased a new position in Comcast in the first quarter worth $940,015,000. Harris Associates L P raised its position in Comcast by 0.5% in the first quarter. Harris Associates L P now owns 20,594,519 shares of the cable giant’s stock worth $759,938,000 after acquiring an additional 111,662 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in Comcast by 2.2% in the first quarter. Raymond James Financial Inc. now owns 20,243,358 shares of the cable giant’s stock worth $746,980,000 after acquiring an additional 427,705 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Down 1.5%

CMCSA opened at $29.26 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The firm has a market cap of $108.03 billion, a P/E ratio of 4.84, a PEG ratio of 1.76 and a beta of 0.94. Comcast Corporation has a 52 week low of $29.15 and a 52 week high of $45.31. The business’s fifty day simple moving average is $32.27 and its 200 day simple moving average is $33.74.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 EPS for the quarter. The business had revenue of $30.34 billion for the quarter. Comcast had a return on equity of 18.86% and a net margin of 18.44%. As a group, equities research analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.5%. Comcast’s dividend payout ratio (DPR) is presently 21.82%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CMCSA shares. Benchmark reiterated a “buy” rating on shares of Comcast in a research report on Friday, July 18th. Loop Capital dropped their price target on Comcast from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday, October 1st. Scotiabank restated a “sector perform” rating and issued a $45.50 price target (up previously from $45.00) on shares of Comcast in a research report on Monday, October 6th. Bank of America dropped their price target on Comcast from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, September 29th. Finally, Arete Research upgraded Comcast to a “hold” rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Comcast presently has an average rating of “Hold” and an average target price of $39.94.

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.