MAI Capital Management Sells 57,517 Shares of Comcast Co. (NASDAQ:CMCSA)

MAI Capital Management lowered its position in Comcast Co. (NASDAQ:CMCSA) by 19.4% in the 3rd quarter, Holdings Channel reports. The firm owned 239,584 shares of the cable giant’s stock after selling 57,517 shares during the quarter. MAI Capital Management’s holdings in Comcast were worth $10,007,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Capital Investment Advisors LLC lifted its holdings in Comcast by 4.5% during the 2nd quarter. Capital Investment Advisors LLC now owns 36,027 shares of the cable giant’s stock valued at $1,411,000 after buying an additional 1,550 shares in the last quarter. First Hawaiian Bank boosted its holdings in shares of Comcast by 8.9% in the second quarter. First Hawaiian Bank now owns 191,846 shares of the cable giant’s stock valued at $7,513,000 after purchasing an additional 15,664 shares during the period. Douglas Lane & Associates LLC grew its stake in Comcast by 0.7% in the third quarter. Douglas Lane & Associates LLC now owns 2,210,469 shares of the cable giant’s stock worth $92,331,000 after purchasing an additional 15,807 shares in the last quarter. Wulff Hansen & CO. increased its holdings in Comcast by 3,816.0% during the 2nd quarter. Wulff Hansen & CO. now owns 558,382 shares of the cable giant’s stock worth $21,866,000 after purchasing an additional 544,123 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in Comcast during the 1st quarter valued at $773,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

Shares of CMCSA stock opened at $43.00 on Tuesday. The firm has a market capitalization of $164.54 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 1.63 and a beta of 1.00. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72. The stock’s 50-day simple moving average is $41.67 and its 200-day simple moving average is $39.93. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.11.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $32.07 billion for the quarter, compared to analyst estimates of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. Comcast’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 EPS. As a group, equities analysts forecast that Comcast Co. will post 4.25 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a $0.31 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a yield of 2.88%. Comcast’s dividend payout ratio (DPR) is 33.33%.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several research reports. TD Cowen cut their price target on Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Scotiabank upgraded shares of Comcast from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $47.75 to $48.00 in a report on Friday, November 1st. Macquarie increased their price objective on shares of Comcast from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday. Benchmark reissued a “buy” rating and issued a $55.00 price objective on shares of Comcast in a research note on Wednesday, October 30th. Finally, StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Comcast presently has an average rating of “Moderate Buy” and a consensus target price of $46.88.

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.