Onyx Bridge Wealth Group LLC Reduces Stock Position in Comcast Co. (NASDAQ:CMCSA)

Onyx Bridge Wealth Group LLC reduced its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 33.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,058 shares of the cable giant’s stock after selling 3,041 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Comcast were worth $237,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CMCSA. Krilogy Financial LLC increased its holdings in Comcast by 48.8% during the 2nd quarter. Krilogy Financial LLC now owns 15,042 shares of the cable giant’s stock worth $589,000 after acquiring an additional 4,933 shares during the period. Summit Global Investments increased its holdings in Comcast by 417.9% during the 2nd quarter. Summit Global Investments now owns 62,684 shares of the cable giant’s stock worth $2,455,000 after acquiring an additional 50,581 shares during the period. Focus Financial Network Inc. increased its holdings in shares of Comcast by 6.7% in the 2nd quarter. Focus Financial Network Inc. now owns 8,097 shares of the cable giant’s stock worth $329,000 after buying an additional 508 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Comcast in the 2nd quarter worth $128,000. Finally, Sanibel Captiva Trust Company Inc. increased its holdings in shares of Comcast by 0.9% in the 2nd quarter. Sanibel Captiva Trust Company Inc. now owns 403,664 shares of the cable giant’s stock worth $15,807,000 after buying an additional 3,461 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CMCSA. The Goldman Sachs Group began coverage on shares of Comcast in a report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price target on the stock. Rosenblatt Securities reissued a “neutral” rating and issued a $45.00 price target on shares of Comcast in a report on Wednesday, July 24th. Citigroup decreased their price target on shares of Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Evercore ISI decreased their price target on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Finally, KeyCorp reduced their target price 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 investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Comcast presently has a consensus rating of “Hold” and an average target price of $45.78.

Comcast Price Performance

Shares of CMCSA stock traded down $0.09 during mid-day trading on Wednesday, hitting $39.94. The company had a trading volume of 11,878,131 shares, compared to its average volume of 20,197,244. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.30. The stock’s 50 day moving average price is $38.78 and its 200-day moving average price is $40.06. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market capitalization of $156.71 billion, a P/E ratio of 10.59, a P/E/G ratio of 1.07 and a beta of 1.00.

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

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s dividend payout ratio (DPR) is 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.