Novare Capital Management LLC Sells 166,820 Shares of Comcast Co. (NASDAQ:CMCSA)

Novare Capital Management LLC cut its position in shares of Comcast Co. (NASDAQ:CMCSA) by 41.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 233,437 shares of the cable giant’s stock after selling 166,820 shares during the period. Novare Capital Management LLC’s holdings in Comcast were worth $9,751,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Capital World Investors grew its holdings in shares of Comcast by 7.4% in the first quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock worth $5,015,737,000 after purchasing an additional 7,929,963 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Comcast by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 38,329,384 shares of the cable giant’s stock worth $1,500,722,000 after acquiring an additional 1,000,626 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Comcast by 41.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock worth $1,214,512,000 after acquiring an additional 8,243,302 shares in the last quarter. Ontario Teachers Pension Plan Board increased its position in shares of Comcast by 25,881.7% during the first quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock worth $470,391,000 after acquiring an additional 10,809,231 shares during the period. Finally, First Pacific Advisors LP boosted its holdings in shares of Comcast by 2.1% in the second quarter. First Pacific Advisors LP now owns 10,818,009 shares of the cable giant’s stock valued at $423,633,000 after purchasing an additional 219,894 shares during the period. 84.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on CMCSA. Macquarie restated a “neutral” rating and set a $40.00 price objective on shares of Comcast in a report on Wednesday, July 24th. Pivotal Research cut their price target on Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. KeyCorp lowered their price objective on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Barclays cut their target price 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, The Goldman Sachs Group started coverage on shares of Comcast in a research report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price target for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $45.55.

Comcast Stock Up 0.4 %

Comcast stock traded up $0.16 during midday trading on Monday, reaching $41.42. The company’s stock had a trading volume of 2,167,920 shares, compared to its average volume of 19,645,961. The stock has a market capitalization of $162.52 billion, a P/E ratio of 10.92, a PEG ratio of 1.10 and a beta of 1.01. 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 stock’s 50-day simple moving average is $39.99 and its 200-day simple moving average is $39.45. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. The business had revenue of $29.69 billion for the quarter, compared to analyst estimates of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. Comcast’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.13 EPS. On average, sell-side analysts expect that Comcast Co. will post 4.23 EPS for the current year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a yield of 2.99%. Comcast’s payout ratio is presently 32.80%.

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.