Hardman Johnston Global Advisors LLC Reduces Stock Holdings in Comcast Corporation $CMCSA

Hardman Johnston Global Advisors LLC decreased its position in Comcast Corporation (NASDAQ:CMCSA) by 1.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 617,580 shares of the cable giant’s stock after selling 11,930 shares during the period. Hardman Johnston Global Advisors LLC’s holdings in Comcast were worth $22,041,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Inlight Wealth Management LLC purchased a new stake in Comcast in the 1st quarter worth about $26,000. Cranbrook Wealth Management LLC increased its holdings in Comcast by 86.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after acquiring an additional 350 shares during the last quarter. Global Trust Asset Management LLC boosted its position in Comcast by 906.8% during the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after purchasing an additional 671 shares during the period. Abound Financial LLC bought a new position in Comcast during the first quarter worth about $29,000. Finally, Ransom Advisory Ltd bought a new position in Comcast during the first quarter worth about $29,000. 84.32% of the stock is currently owned by institutional investors.

Comcast Price Performance

NASDAQ:CMCSA opened at $30.40 on Friday. The firm has a market capitalization of $112.24 billion, a price-to-earnings ratio of 5.02, a P/E/G ratio of 1.81 and a beta of 0.94. Comcast Corporation has a 52-week low of $30.38 and a 52-week high of $45.31. The stock has a fifty day moving average of $32.79 and a 200 day moving average of $34.20. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. The firm had revenue of $30.31 billion for the quarter, compared to analysts’ expectations of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 EPS. On average, research analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s payout ratio is currently 21.82%.

Analysts Set New Price Targets

A number of brokerages recently commented on CMCSA. Arete Research upgraded shares of Comcast to a “hold” rating in a research note on Tuesday, July 8th. Rothschild & Co Redburn lowered their target price on shares of Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Rosenblatt Securities lifted their price target on Comcast from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, August 4th. Loop Capital cut their target price on Comcast from $44.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Benchmark restated a “buy” rating on shares of Comcast in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Comcast has a consensus rating of “Hold” and a consensus target price of $40.07.

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.