Sitrin Capital Management LLC Decreases Stock Position in Comcast Co. (NASDAQ:CMCSA)

Sitrin Capital Management LLC decreased its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,612 shares of the cable giant’s stock after selling 1,304 shares during the quarter. Comcast makes up 2.4% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 28th biggest holding. Sitrin Capital Management LLC’s holdings in Comcast were worth $4,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CMCSA. Fairscale Capital LLC purchased a new position in Comcast during the second quarter worth about $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Comcast in the second quarter valued at approximately $27,000. IAG Wealth Partners LLC raised its position in Comcast by 204.7% in the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after acquiring an additional 522 shares in the last quarter. McClarren Financial Advisors Inc. boosted its position in shares of Comcast by 365.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after purchasing an additional 570 shares in the last quarter. Finally, Archer Investment Corp increased its holdings in shares of Comcast by 177.1% in the 2nd quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock valued at $32,000 after purchasing an additional 519 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analysts Set New Price Targets

CMCSA has been the subject of a number of research reports. Scotiabank upgraded shares of Comcast from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $47.75 to $48.00 in a research report on Friday. KeyCorp lifted their price objective on Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday. Pivotal Research dropped their price target on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Barclays decreased their price objective on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Finally, Macquarie restated a “neutral” rating and set a $40.00 target price on shares of Comcast in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.80.

Comcast Trading Up 0.2 %

CMCSA stock traded up $0.09 during midday trading on Friday, reaching $43.76. The company’s stock had a trading volume of 6,466,849 shares, compared to its average volume of 19,593,369. The business’s 50-day simple moving average is $40.73 and its 200-day simple moving average is $39.55. The stock has a market cap of $169.46 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.06. The business had revenue of $32.07 billion for the quarter, compared to analyst estimates of $31.78 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. Comcast’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.08 EPS. As a group, sell-side analysts expect that Comcast Co. will post 4.24 EPS for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a dividend of $0.31 per share. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a yield of 2.83%. Comcast’s payout ratio is 32.98%.

Comcast 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.