Advisors Capital Management LLC Sells 2,782 Shares of Comcast Corporation $CMCSA

Advisors Capital Management LLC lessened its stake in Comcast Corporation (NASDAQ:CMCSA) by 5.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,856 shares of the cable giant’s stock after selling 2,782 shares during the quarter. Advisors Capital Management LLC’s holdings in Comcast were worth $1,744,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CMCSA. Dodge & Cox grew its position in Comcast by 19.1% in the first quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant’s stock worth $3,476,635,000 after acquiring an additional 15,115,074 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of Comcast by 1.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 35,905,236 shares of the cable giant’s stock worth $1,281,458,000 after purchasing an additional 490,923 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Comcast by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,636,264 shares of the cable giant’s stock valued at $1,240,955,000 after purchasing an additional 926,663 shares during the last quarter. Nuveen LLC bought a new position in shares of Comcast during the 1st quarter valued at approximately $940,015,000. Finally, Harris Associates L P raised its holdings in Comcast by 0.5% during the 1st quarter. Harris Associates L P now owns 20,594,519 shares of the cable giant’s stock valued at $759,938,000 after buying an additional 111,662 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Trading Down 1.6%

CMCSA stock opened at $27.51 on Friday. The firm has a market cap of $100.24 billion, a P/E ratio of 4.58, a PEG ratio of 1.79 and a beta of 0.92. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $44.03. 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 company’s 50-day simple moving average is $30.12 and its 200-day simple moving average is $32.87.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 EPS for the quarter. Comcast had a return on equity of 18.06% and a net margin of 18.33%.The company had revenue of $30.34 billion for the quarter. As a group, equities analysts forecast 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, February 4th. Investors of record on Wednesday, January 14th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Wednesday, January 14th. Comcast’s dividend payout ratio is 21.96%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CMCSA. Rosenblatt Securities decreased their price objective on shares of Comcast from $38.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, October 17th. Morgan Stanley dropped their price objective on Comcast from $35.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, October 31st. BNP Paribas Exane upgraded Comcast from an “underperform” rating to a “neutral” rating and set a $28.00 target price on the stock in a research note on Tuesday, November 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Comcast in a research note on Tuesday, October 14th. Finally, Williams Trading set a $40.00 price target on shares of Comcast in a report on Friday, October 31st. Ten investment analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Comcast presently has an average rating of “Hold” and an average price target of $36.12.

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.