Koshinski Asset Management Inc. trimmed its stake in shares of Comcast Co. (NASDAQ:CMCSA – Get Rating) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,225 shares of the cable giant’s stock after selling 791 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Comcast were worth $911,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Comcast by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 399,364,773 shares of the cable giant’s stock worth $18,698,259,000 after acquiring an additional 2,751,429 shares during the last quarter. State Street Corp increased its stake in Comcast by 2.4% in the 4th quarter. State Street Corp now owns 178,004,947 shares of the cable giant’s stock worth $8,958,989,000 after acquiring an additional 4,198,673 shares during the last quarter. Capital Research Global Investors increased its stake in Comcast by 8.8% in the 4th quarter. Capital Research Global Investors now owns 156,125,921 shares of the cable giant’s stock worth $7,857,828,000 after acquiring an additional 12,642,202 shares during the last quarter. Dodge & Cox increased its stake in Comcast by 1.1% in the 4th quarter. Dodge & Cox now owns 84,666,165 shares of the cable giant’s stock worth $4,261,248,000 after acquiring an additional 958,091 shares during the last quarter. Finally, Norges Bank bought a new position in Comcast in the 4th quarter worth about $2,507,025,000. 82.80% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently commented on CMCSA. Daiwa Capital Markets began coverage on Comcast in a research report on Friday, July 1st. They set an “outperform” rating and a $43.00 price objective on the stock. Cowen reduced their price objective on Comcast from $60.00 to $51.00 in a research report on Friday, July 29th. Cowen reduced their price objective on Comcast from $60.00 to $51.00 in a research report on Friday, July 29th. JPMorgan Chase & Co. lowered Comcast from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $52.00 to $45.00 in a research report on Friday, July 29th. Finally, Rosenblatt Securities reduced their price objective on Comcast from $40.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, August 1st. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Comcast currently has an average rating of “Hold” and a consensus price target of $51.75.
Comcast Stock Down 3.4 %
Comcast (NASDAQ:CMCSA – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The cable giant reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.09. The firm had revenue of $30.02 billion for the quarter, compared to the consensus estimate of $29.72 billion. Comcast had a return on equity of 16.67% and a net margin of 11.54%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the business posted $0.84 EPS. Equities analysts predict that Comcast Co. will post 3.62 EPS for the current fiscal year.
Comcast Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be given a dividend of $0.27 per share. The ex-dividend date is Tuesday, October 4th. This represents a $1.08 annualized dividend and a yield of 3.30%. Comcast’s dividend payout ratio (DPR) is presently 35.29%.
Comcast Company Profile
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.
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