Freestone Capital Holdings LLC Sells 78,126 Shares of Comcast Corporation $CMCSA

Freestone Capital Holdings LLC trimmed its stake in Comcast Corporation (NASDAQ:CMCSA) by 23.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 261,428 shares of the cable giant’s stock after selling 78,126 shares during the period. Freestone Capital Holdings LLC’s holdings in Comcast were worth $9,330,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Dodge & Cox raised its holdings in shares of 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 buying an additional 15,115,074 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Comcast by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,636,264 shares of the cable giant’s stock worth $1,240,955,000 after purchasing an additional 926,663 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Comcast in the 1st quarter worth $940,015,000. Harris Associates L P boosted its position in shares of Comcast by 0.5% in the 1st quarter. Harris Associates L P now owns 20,594,519 shares of the cable giant’s stock worth $759,938,000 after purchasing an additional 111,662 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its position in Comcast by 2.2% during the 1st 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 during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Up 1.9%

Comcast stock opened at $27.83 on Monday. Comcast Corporation has a twelve month low of $25.75 and a twelve month high of $45.31. The stock’s fifty day simple moving average is $31.40 and its 200-day simple moving average is $33.32. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $102.75 billion, a P/E ratio of 4.63, a P/E/G ratio of 1.89 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. The business had revenue of $30.34 billion for the quarter. Comcast had a return on equity of 18.06% and a net margin of 18.33%. As a group, equities analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 14th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Wednesday, January 14th. Comcast’s dividend payout ratio is 21.96%.

Wall Street Analyst Weigh In

A number of analysts have commented on CMCSA shares. Evercore ISI lowered their price target on Comcast from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday. Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a research note on Tuesday, October 14th. Rosenblatt Securities lowered their price objective on Comcast from $38.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, October 17th. Pivotal Research lowered their price objective on Comcast from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Friday. Finally, Barclays dropped their price target on Comcast from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $36.74.

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.