Parisi Gray Wealth Management cut its position in Comcast Co. (NASDAQ:CMCSA – Get Rating) by 3.0% in the second quarter, HoldingsChannel.com reports. The firm owned 30,205 shares of the cable giant's stock after selling 945 shares during the quarter. Parisi Gray Wealth Management's holdings in Comcast were worth $1,185,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Calton & Associates Inc. raised its holdings in Comcast by 3.1% during the first quarter. Calton & Associates Inc. now owns 7,021 shares of the cable giant's stock worth $328,000 after acquiring an additional 212 shares in the last quarter. Capital Investment Advisory Services LLC increased its position in Comcast by 2.3% during the second quarter. Capital Investment Advisory Services LLC now owns 10,775 shares of the cable giant's stock worth $423,000 after buying an additional 244 shares during the last quarter. Pacifica Partners Inc. increased its position in Comcast by 33.8% during the first quarter. Pacifica Partners Inc. now owns 989 shares of the cable giant's stock worth $46,000 after buying an additional 250 shares during the last quarter. Family Legacy Inc. increased its position in Comcast by 5.5% during the first quarter. Family Legacy Inc. now owns 4,816 shares of the cable giant's stock worth $225,000 after buying an additional 250 shares during the last quarter. Finally, First City Capital Management Inc. increased its position in Comcast by 1.4% during the second quarter. First City Capital Management Inc. now owns 18,358 shares of the cable giant's stock worth $720,000 after buying an additional 256 shares during the last quarter. 82.80% of the stock is owned by hedge funds and other institutional investors.
Get Comcast alerts:Comcast Trading Down 2.0 %
NASDAQ:CMCSA traded down $0.62 during trading hours on Thursday, hitting $30.12. 142,922 shares of the company were exchanged, compared to its average volume of 31,803,972. The stock has a market capitalization of $132.93 billion, a price-to-earnings ratio of 10.05, a price-to-earnings-growth ratio of 0.64 and a beta of 0.97. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.04. Comcast Co. has a one year low of $29.28 and a one year high of $57.96. The company has a fifty day simple moving average of $35.70 and a 200 day simple moving average of $40.38.
Comcast (NASDAQ:CMCSA – Get Rating) last announced its earnings results on Thursday, July 28th. The cable giant reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.10. The business had revenue of $30.02 billion during the quarter, compared to analyst estimates of $29.72 billion. Comcast had a return on equity of 16.67% and a net margin of 11.54%. Comcast's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $0.84 EPS. Sell-side analysts expect that Comcast Co. will post 3.62 EPS for the current fiscal year.Comcast Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be given a dividend of $0.27 per share. The ex-dividend date is Tuesday, October 4th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.59%. Comcast's dividend payout ratio (DPR) is currently 35.29%.
Wall Street Analyst Weigh In
CMCSA has been the topic of a number of recent analyst reports. Cowen lowered their price target on Comcast from $60.00 to $51.00 in a research report on Friday, July 29th. Benchmark decreased their target price on Comcast from $60.00 to $46.00 and set a "buy" rating on the stock in a research report on Wednesday, September 28th. Macquarie downgraded Comcast from a "neutral" rating to an "underperform" rating and decreased their target price for the company from $40.00 to $33.00 in a research report on Friday, July 29th. Redburn Partners downgraded Comcast from a "buy" rating to a "neutral" rating in a research report on Friday, August 5th. Finally, Wells Fargo & Company decreased their target price on Comcast from $36.00 to $30.00 and set an "underweight" rating on the stock in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Comcast presently has an average rating of "Hold" and an average target price of $48.48.
About Comcast
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Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.
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