Lecap Asset Management Ltd. Trims Position in Comcast Corporation $CMCSA

Lecap Asset Management Ltd. cut its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 76.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,098 shares of the cable giant’s stock after selling 19,644 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Comcast were worth $218,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of 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. grew its position in 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 valued at $47,254,000 after buying an additional 118,839 shares during the period. OMNI 360 Wealth Inc. purchased a new position in Comcast in the first quarter valued at $335,000. DAVENPORT & Co LLC increased its holdings 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 buying an additional 1,261,278 shares in the last quarter. Finally, Kestra Investment Management LLC increased its holdings in Comcast by 49.5% in the first quarter. Kestra Investment Management LLC now owns 71,331 shares of the cable giant’s stock valued at $2,632,000 after buying an additional 23,607 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Price Performance

Comcast stock opened at $30.90 on Friday. Comcast Corporation has a 52-week low of $30.38 and a 52-week high of $45.31. The firm has a market capitalization of $114.09 billion, a price-to-earnings ratio of 5.11, a PEG ratio of 1.78 and a beta of 0.94. The company has a fifty day simple moving average of $32.73 and a 200-day simple moving average of $34.16. 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 released its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The business had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. During the same quarter in the prior year, the firm earned $1.21 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CMCSA shares. Citigroup reaffirmed a “buy” rating on shares of Comcast in a report on Tuesday, August 26th. Loop Capital cut their price objective on shares of Comcast from $44.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday. Benchmark reaffirmed a “buy” rating on shares of Comcast in a report on Friday, July 18th. Rosenblatt Securities boosted their price target on shares of Comcast from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, August 4th. Finally, Sanford C. Bernstein cut their price target on shares of Comcast from $37.00 to $36.00 and set a “market perform” rating for the company in a report on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Comcast has a consensus rating of “Hold” and an average target price 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.