TBH Global Asset Management LLC Trims Stock Position in Comcast Co. (NASDAQ:CMCSA)

TBH Global Asset Management LLC trimmed its stake in Comcast Co. (NASDAQ:CMCSA) by 13.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,845 shares of the cable giant’s stock after selling 2,223 shares during the period. TBH Global Asset Management LLC’s holdings in Comcast were worth $607,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Comcast during the fourth quarter worth about $2,542,988,000. Envestnet Asset Management Inc. boosted its position in shares of Comcast by 39.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 10,065,475 shares of the cable giant’s stock valued at $446,303,000 after purchasing an additional 2,861,358 shares during the period. Assetmark Inc. grew its stake in Comcast by 663.0% during the 4th quarter. Assetmark Inc. now owns 2,401,702 shares of the cable giant’s stock worth $105,315,000 after buying an additional 2,086,950 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in Comcast by 43.3% in the third quarter. Lord Abbett & CO. LLC now owns 6,311,296 shares of the cable giant’s stock valued at $279,843,000 after buying an additional 1,907,973 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Comcast by 422.9% in the fourth quarter. SG Americas Securities LLC now owns 1,678,815 shares of the cable giant’s stock valued at $73,616,000 after acquiring an additional 1,357,756 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Price Performance

Comcast stock traded down $0.14 during trading hours on Friday, hitting $38.54. The stock had a trading volume of 14,375,674 shares, compared to its average volume of 19,521,572. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.46. The stock has a market capitalization of $151.22 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 0.97 and a beta of 0.99. The stock’s fifty day moving average is $40.21 and its two-hundred day moving average is $42.04. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.59 and a quick ratio of 0.59.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. The firm had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 EPS. As a group, analysts predict that Comcast Co. will post 4.21 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be given a dividend of $0.31 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $1.24 annualized dividend and a dividend yield of 3.22%. Comcast’s dividend payout ratio is currently 32.80%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Evercore ISI reiterated an “outperform” rating and issued a $50.00 price target on shares of Comcast in a research report on Tuesday, March 26th. BNP Paribas reiterated a “neutral” rating and set a $45.00 target price on shares of Comcast in a research note on Tuesday, April 9th. StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 22nd. Redburn Atlantic downgraded Comcast from a “buy” rating to a “neutral” rating and lowered their target price for the company from $50.00 to $44.00 in a research note on Thursday, February 15th. Finally, Benchmark restated a “buy” rating and set a $55.00 price target on shares of Comcast in a research note on Monday, May 13th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Comcast currently has an average rating of “Moderate Buy” and a consensus target price of $49.33.

Insider Buying and Selling at Comcast

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total value of $10,134,384.37. Following the completion of the transaction, the insider now owns 2,000,000 shares of the company’s stock, valued at approximately $6,380,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.26% of the stock is owned by insiders.

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.