SummitTX Capital L.P. Lowers Position in Comcast Corporation $CMCSA

SummitTX Capital L.P. decreased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 55.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 123,937 shares of the cable giant’s stock after selling 156,056 shares during the period. SummitTX Capital L.P.’s holdings in Comcast were worth $3,558,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Imprint Wealth LLC purchased a new stake in shares of Comcast in the 3rd quarter valued at about $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Comcast in the fourth quarter worth approximately $27,000. Whipplewood Advisors LLC raised its stake in Comcast by 75.5% in the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 401 shares in the last quarter. Main Street Group LTD bought a new stake in Comcast during the first quarter valued at approximately $27,000. Finally, Richardson Financial Services Inc. grew its stake in Comcast by 212.6% in the 4th quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock worth $30,000 after buying an additional 691 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CMCSA shares. Zacks Research raised shares of Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a report on Monday, July 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Comcast from a “hold” rating to a “buy” rating and cut their target price for the stock from $34.00 to $32.00 in a research report on Tuesday, June 30th. BNP Paribas Exane lowered their price target on Comcast from $25.00 to $22.00 and set an “underperform” rating on the stock in a research report on Tuesday, July 14th. Finally, Freedom Capital raised Comcast to a “hold” rating in a research note on Friday, June 12th. Eleven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $32.96.

Comcast Trading Up 2.2%

NASDAQ:CMCSA opened at $22.80 on Tuesday. The company has a fifty day moving average of $23.77 and a 200 day moving average of $27.23. Comcast Corporation has a 52 week low of $21.28 and a 52 week high of $34.45. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $81.45 billion, a P/E ratio of 7.38, a P/E/G ratio of 1.84 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The business had revenue of $29.94 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same quarter last year, the firm earned $1.25 EPS. The company’s revenue was down 1.2% on a year-over-year basis. On average, research analysts predict that Comcast Corporation will post 3.47 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 annualized dividend and a dividend yield of 5.8%. Comcast’s dividend payout ratio (DPR) is presently 42.72%.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.