Comcast Co. (NASDAQ:CMCSA) Stake Lifted by Sitrin Capital Management LLC

Sitrin Capital Management LLC increased its position in shares of Comcast Co. (NASDAQ:CMCSA) by 0.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,916 shares of the cable giant’s stock after purchasing an additional 435 shares during the period. Comcast accounts for about 2.5% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 21st largest holding. Sitrin Capital Management LLC’s holdings in Comcast were worth $4,618,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CMCSA. Wealthspire Advisors LLC boosted its holdings in Comcast by 4.8% during the fourth quarter. Wealthspire Advisors LLC now owns 60,650 shares of the cable giant’s stock worth $2,659,000 after buying an additional 2,781 shares in the last quarter. Desjardins Global Asset Management Inc. raised its position in shares of Comcast by 1.5% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock worth $4,438,000 after purchasing an additional 1,486 shares during the period. Brevan Howard Capital Management LP purchased a new stake in shares of Comcast during the fourth quarter valued at $2,056,000. Axxcess Wealth Management LLC boosted its position in shares of Comcast by 10.5% in the 4th quarter. Axxcess Wealth Management LLC now owns 115,503 shares of the cable giant’s stock valued at $5,065,000 after purchasing an additional 10,936 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in Comcast by 3.4% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 11,304,304 shares of the cable giant’s stock worth $495,694,000 after buying an additional 368,685 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of Comcast stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total value of $10,134,384.37. Following the transaction, the insider now owns 2,000,000 shares of the company’s stock, valued at $6,380,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CMCSA. The Goldman Sachs Group started coverage on Comcast in a research report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 target price for the company. Deutsche Bank Aktiengesellschaft dropped their target price on Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Pivotal Research decreased their price target on shares of Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Macquarie reiterated a “neutral” rating and issued a $40.00 target price on shares of Comcast in a research report on Wednesday, July 24th. Finally, KeyCorp lowered their price target on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Comcast has a consensus rating of “Hold” and an average price target of $45.78.

Comcast Trading Down 0.7 %

NASDAQ:CMCSA traded down $0.27 on Friday, hitting $39.08. 13,999,553 shares of the stock were exchanged, compared to its average volume of 20,505,949. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.46. The stock has a market capitalization of $153.34 billion, a price-to-earnings ratio of 10.34, a P/E/G ratio of 1.07 and a beta of 1.00. The company’s 50-day moving average price is $38.72 and its 200 day moving average price is $40.41.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The business had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts forecast that Comcast Co. will post 4.23 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s payout ratio is presently 32.80%.

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.