Goldman Sachs Group Inc. Sells 912,887 Shares of Comcast Corporation (NASDAQ:CMCSA)

Goldman Sachs Group Inc. decreased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,518,972 shares of the cable giant’s stock after selling 912,887 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Comcast were worth $904,750,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CMCSA. Inlight Wealth Management LLC purchased a new stake in Comcast in the first quarter worth approximately $26,000. Abound Financial LLC purchased a new stake in shares of Comcast in the 1st quarter valued at $29,000. Retirement Wealth Solutions LLC grew its holdings in shares of Comcast by 126.9% during the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 448 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new position in Comcast in the 4th quarter worth $33,000. Finally, Global Wealth Strategies & Associates boosted its position in Comcast by 203.4% during the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant’s stock valued at $33,000 after buying an additional 600 shares during the period. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Down 1.1%

CMCSA opened at $32.16 on Thursday. The stock has a market capitalization of $120.08 billion, a price-to-earnings ratio of 5.32, a PEG ratio of 1.95 and a beta of 0.92. The firm has a 50 day moving average price of $34.66 and a 200-day moving average price of $35.03. Comcast Corporation has a twelve month low of $31.44 and a twelve month high of $45.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The business had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.21 EPS. Equities research analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. Comcast’s dividend payout ratio is presently 21.82%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CMCSA. Wells Fargo & Company lowered Comcast from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $37.00 to $31.00 in a research note on Monday, April 14th. Rothschild & Co Redburn dropped their price objective on Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Citigroup decreased their target price on shares of Comcast from $44.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. UBS Group cut their price target on shares of Comcast from $40.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, August 1st. Finally, Rosenblatt Securities increased their target price on shares of Comcast from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.73.

Comcast Company 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.