Comcast Co. (NASDAQ:CMCSA) Shares Sold by Patron Partners LLC

Patron Partners LLC cut its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 17.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,604 shares of the cable giant’s stock after selling 1,852 shares during the period. Patron Partners LLC’s holdings in Comcast were worth $337,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Brevan Howard Capital Management LP purchased a new position in Comcast during the 4th quarter valued at about $2,056,000. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Comcast by 3.4% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 11,304,304 shares of the cable giant’s stock valued at $495,694,000 after purchasing an additional 368,685 shares during the period. Capital Investment Advisors LLC grew its holdings in shares of Comcast by 4.5% in the second quarter. Capital Investment Advisors LLC now owns 36,027 shares of the cable giant’s stock valued at $1,411,000 after purchasing an additional 1,550 shares in the last quarter. First Hawaiian Bank increased its stake in Comcast by 8.9% during the 2nd quarter. First Hawaiian Bank now owns 191,846 shares of the cable giant’s stock worth $7,513,000 after buying an additional 15,664 shares during the period. Finally, Gilbert & Cook Inc. lifted its holdings in Comcast by 10.3% during the 4th quarter. Gilbert & Cook Inc. now owns 15,613 shares of the cable giant’s stock worth $685,000 after buying an additional 1,459 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Price Performance

NASDAQ:CMCSA traded down $0.19 during trading hours on Friday, reaching $39.61. 18,549,208 shares of the company traded hands, compared to its average volume of 19,988,055. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11. The stock has a market cap of $155.41 billion, a P/E ratio of 10.48, a P/E/G ratio of 1.05 and a beta of 1.00. The firm’s 50-day moving average is $39.24 and its 200-day moving average is $39.85. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66.

Comcast (NASDAQ:CMCSA) last released its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. The company had revenue of $29.69 billion for the quarter, compared to analyst estimates of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.13 EPS. Equities research analysts expect that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a yield of 3.13%. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CMCSA. Benchmark reaffirmed a “buy” rating and issued a $55.00 price target on shares of Comcast in a research report on Monday, May 13th. Evercore ISI dropped their price target on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. KeyCorp cut their price target on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Seaport Res Ptn downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. Finally, Pivotal Research cut their price target on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Comcast presently has an average rating of “Hold” and a consensus price target of $45.78.

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.