BTC Capital Management Inc. Cuts Holdings in Comcast Co. (NASDAQ:CMCSA)

BTC Capital Management Inc. cut its holdings in Comcast Co. (NASDAQ:CMCSA) by 3.8% during the second quarter, Holdings Channel reports. The institutional investor owned 213,863 shares of the cable giant’s stock after selling 8,503 shares during the quarter. Comcast comprises 1.0% of BTC Capital Management Inc.’s investment portfolio, making the stock its 29th biggest holding. BTC Capital Management Inc.’s holdings in Comcast were worth $8,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC raised its holdings in Comcast by 5.1% during the first quarter. FMR LLC now owns 117,764,529 shares of the cable giant’s stock worth $4,464,453,000 after purchasing an additional 5,767,151 shares during the last quarter. Morgan Stanley increased its holdings in Comcast by 15.2% during the 4th quarter. Morgan Stanley now owns 53,653,778 shares of the cable giant’s stock valued at $1,876,273,000 after acquiring an additional 7,084,451 shares in the last quarter. Norges Bank purchased a new stake in shares of Comcast in the fourth quarter valued at about $1,798,173,000. Bank of New York Mellon Corp grew its position in shares of Comcast by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 42,448,741 shares of the cable giant’s stock valued at $1,245,022,000 after purchasing an additional 189,845 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Comcast by 1.1% during the 1st quarter. Clearbridge Investments LLC now owns 42,441,142 shares of the cable giant’s stock worth $1,987,094,000 after purchasing an additional 473,150 shares in the last quarter. Institutional investors and hedge funds own 82.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Credit Suisse Group upped their price objective on Comcast from $50.00 to $54.00 in a research report on Thursday, July 27th. Bank of America increased their price target on shares of Comcast from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Rosenblatt Securities raised their price objective on Comcast from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Monday, July 31st. Loop Capital increased their price target on Comcast from $50.00 to $53.00 in a report on Friday, July 28th. Finally, Macquarie raised shares of Comcast from an “underperform” rating to a “neutral” rating and set a $46.00 price target on the stock in a research note on Friday, July 28th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.88.

Comcast Trading Up 0.4 %

Shares of NASDAQ:CMCSA traded up $0.20 during trading on Monday, reaching $45.54. 1,330,944 shares of the company traded hands, compared to its average volume of 18,746,336. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.12. Comcast Co. has a 52-week low of $28.39 and a 52-week high of $47.46. The business’s fifty day moving average is $44.84 and its 200-day moving average is $41.06. The firm has a market capitalization of $187.86 billion, a price-to-earnings ratio of 28.70, a P/E/G ratio of 1.25 and a beta of 0.99.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, July 27th. The cable giant reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.15. The company had revenue of $30.51 billion during the quarter, compared to the consensus estimate of $30.11 billion. Comcast had a return on equity of 19.79% and a net margin of 5.40%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 earnings per share. As a group, analysts forecast that Comcast Co. will post 3.81 EPS for the current year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be paid a $0.29 dividend. The ex-dividend date is Tuesday, October 3rd. This represents a $1.16 annualized dividend and a dividend yield of 2.55%. Comcast’s dividend payout ratio (DPR) is 73.42%.

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, advertising sales, and Sky channels.