Comcast Corporation $CMCSA Shares Sold by Abacus Planning Group Inc.

Abacus Planning Group Inc. lessened its stake in Comcast Corporation (NASDAQ:CMCSA) by 9.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 7,606 shares of the cable giant’s stock after selling 800 shares during the period. Abacus Planning Group Inc.’s holdings in Comcast were worth $271,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Advisor OS LLC raised its position in Comcast by 33.2% during the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock worth $1,308,000 after buying an additional 8,841 shares during the last quarter. Resona Asset Management Co. Ltd. increased its stake in shares of Comcast by 10.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant’s stock worth $47,254,000 after acquiring an additional 118,839 shares during the period. OMNI 360 Wealth Inc. purchased a new position in Comcast during the first quarter worth about $335,000. DAVENPORT & Co LLC lifted its position in Comcast by 41.7% in the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant’s stock valued at $157,766,000 after purchasing an additional 1,261,278 shares during the period. Finally, Kestra Investment Management LLC boosted its holdings in Comcast by 49.5% in the 1st quarter. Kestra Investment Management LLC now owns 71,331 shares of the cable giant’s stock valued at $2,632,000 after purchasing an additional 23,607 shares in the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $30.90 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The company’s 50-day moving average price is $32.73 and its 200 day moving average price is $34.16. Comcast Corporation has a 52 week low of $30.38 and a 52 week high of $45.31. The stock has a market cap of $114.09 billion, a price-to-earnings ratio of 5.11, a PEG ratio of 1.78 and a beta of 0.94.

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

Comcast Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CMCSA. Scotiabank increased their target price on Comcast from $44.50 to $45.00 and gave the stock a “sector perform” rating in a research note on Friday, July 11th. Bank of America cut their price objective on Comcast from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, September 29th. Weiss Ratings restated a “hold (c)” rating on shares of Comcast in a research report on Saturday, September 27th. Arete Research raised shares of Comcast to a “hold” rating in a research note on Tuesday, July 8th. Finally, Barclays reduced their price objective on shares of Comcast from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Comcast has a consensus rating of “Hold” and an average price target of $40.26.

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.