Carret Asset Management LLC Lowers Position in Comcast Co. (NASDAQ:CMCSA)

Carret Asset Management LLC lessened its holdings in Comcast Co. (NASDAQ:CMCSA) by 6.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,113 shares of the cable giant’s stock after selling 4,801 shares during the period. Carret Asset Management LLC’s holdings in Comcast were worth $2,785,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CMCSA. Bollard Group LLC lifted its stake in shares of Comcast by 0.7% during the 4th quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock valued at $1,622,000 after buying an additional 244 shares in the last quarter. Tortoise Investment Management LLC boosted its stake in shares of Comcast by 4.5% in the fourth quarter. Tortoise Investment Management LLC now owns 5,801 shares of the cable giant’s stock worth $254,000 after acquiring an additional 249 shares during the period. Laraway Financial Advisors Inc grew its position in shares of Comcast by 1.9% during the fourth quarter. Laraway Financial Advisors Inc now owns 13,150 shares of the cable giant’s stock worth $577,000 after purchasing an additional 250 shares in the last quarter. Verum Partners LLC grew its position in shares of Comcast by 4.9% during the second quarter. Verum Partners LLC now owns 5,663 shares of the cable giant’s stock worth $222,000 after purchasing an additional 267 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC grew its position in shares of Comcast by 3.1% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 8,815 shares of the cable giant’s stock worth $387,000 after purchasing an additional 268 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CMCSA. The Goldman Sachs Group began coverage on Comcast in a research note on Tuesday, June 25th. They set a “buy” rating and a $44.00 price target for the company. BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target for the company. in a research note on Tuesday, June 11th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a research note on Wednesday, July 24th. Barclays decreased their price target on Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Finally, Macquarie reissued a “neutral” rating and set a $40.00 price target on shares of Comcast in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $45.78.

Comcast Stock Performance

Shares of CMCSA traded up $0.11 during mid-day trading on Monday, hitting $39.57. 25,874,900 shares of the company’s stock were exchanged, compared to its average volume of 19,985,014. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $153.23 billion, a P/E ratio of 10.47, a P/E/G ratio of 1.05 and a beta of 1.00. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.30. The business’s 50 day moving average is $39.14 and its two-hundred day moving average is $39.89.

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

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a $0.31 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.13%. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

About Comcast

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.