JPMorgan Chase & Co. Cuts Comcast (NASDAQ:CMCSA) Price Target to $33.00

Comcast (NASDAQ:CMCSA) had its price objective trimmed by JPMorgan Chase & Co. from $38.00 to $33.00 in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The brokerage currently has a neutral rating on the cable giant’s stock.

Other equities research analysts have also issued reports about the company. Benchmark restated a “buy” rating on shares of Comcast in a research report on Friday, July 18th. Sanford C. Bernstein cut their target price on Comcast from $37.00 to $36.00 and set a “market perform” rating for the company in a research note on Wednesday, September 10th. Rosenblatt Securities reduced their price target on Comcast from $38.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, October 17th. Arete dropped their price objective on shares of Comcast from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Tuesday, October 28th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $30.00 price objective on shares of Comcast in a research report on Friday. Eleven equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Comcast currently has a consensus rating of “Hold” and a consensus target price of $36.74.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $27.83 on Friday. The firm has a 50-day simple moving average of $31.40 and a 200-day simple moving average of $33.32. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $102.75 billion, a price-to-earnings ratio of 4.63, a price-to-earnings-growth ratio of 1.89 and a beta of 0.94. Comcast has a 52 week low of $25.75 and a 52 week high of $45.31.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The company had revenue of $30.34 billion during the quarter. On average, equities analysts predict that Comcast 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, February 4th. Shareholders of record on Wednesday, January 14th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, January 14th. This represents a $1.32 dividend on an annualized basis and a yield of 4.7%. Comcast’s dividend payout ratio is presently 21.96%.

Institutional Investors Weigh In On Comcast

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Comcast by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant’s stock valued at $13,185,275,000 after purchasing an additional 1,257,196 shares during the last quarter. State Street Corp boosted its position in shares of Comcast by 2.5% during the second quarter. State Street Corp now owns 172,769,800 shares of the cable giant’s stock worth $6,166,154,000 after buying an additional 4,231,140 shares during the period. Dodge & Cox grew its stake in shares of Comcast by 18.1% in the second quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock valued at $3,971,309,000 after buying an additional 17,054,579 shares in the last quarter. Norges Bank acquired a new stake in shares of Comcast in the second quarter valued at $3,528,361,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Comcast by 7.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 36,154,170 shares of the cable giant’s stock valued at $1,289,984,000 after buying an additional 2,517,906 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

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.