Comcast Co. (NASDAQ:CMCSA) Shares Sold by Park Place Capital Corp

Park Place Capital Corp lessened its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 13.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 3,775 shares of the cable giant’s stock after selling 581 shares during the period. Park Place Capital Corp’s holdings in Comcast were worth $148,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Capital World Investors lifted its holdings in shares of Comcast by 7.4% during the 1st quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock worth $5,015,737,000 after acquiring an additional 7,929,963 shares during the period. Norges Bank purchased a new stake in shares of Comcast during the 4th quarter valued at $2,542,988,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Comcast by 41.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock worth $1,214,512,000 after buying an additional 8,243,302 shares during the last quarter. Harris Associates L P boosted its holdings in Comcast by 10.9% in the fourth quarter. Harris Associates L P now owns 18,873,787 shares of the cable giant’s stock valued at $827,616,000 after acquiring an additional 1,854,671 shares during the last quarter. Finally, LSV Asset Management grew its position in Comcast by 3.8% during the fourth quarter. LSV Asset Management now owns 15,688,650 shares of the cable giant’s stock valued at $687,947,000 after acquiring an additional 570,050 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of Comcast stock traded down $0.68 during trading on Monday, hitting $39.22. 11,072,099 shares of the stock were exchanged, compared to its average volume of 20,582,727. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66. The stock’s fifty day moving average is $38.70 and its 200 day moving average is $40.54. The stock has a market cap of $151.88 billion, a PE ratio of 10.74, a P/E/G ratio of 1.07 and a beta of 1.00. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.46.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. The business had revenue of $29.69 billion during the quarter, compared to the consensus estimate of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The business’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.13 earnings per share. As a group, sell-side analysts anticipate that Comcast Co. will post 4.23 EPS for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s payout ratio is currently 32.80%.

Insider Buying and Selling

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the transaction, the insider now directly owns 2,000,000 shares of the company’s stock, valued at $6,380,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several recent research reports. Scotiabank reduced their target price on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a report on Friday, April 26th. Citigroup reduced their price target on Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a research report on Wednesday, July 24th. The Goldman Sachs Group assumed coverage on shares of Comcast in a report on Tuesday, June 25th. They set a “buy” rating and a $44.00 price target for the company. Finally, Pivotal Research decreased their price objective on shares of Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.01.

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.