Fiduciary Alliance LLC Reduces Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Fiduciary Alliance LLC cut its holdings in Comcast Co. (NASDAQ:CMCSA) by 89.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 9,916 shares of the cable giant’s stock after selling 81,173 shares during the quarter. Fiduciary Alliance LLC’s holdings in Comcast were worth $419,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CMCSA. Capital World Investors increased its holdings in shares of Comcast by 17.0% in the fourth quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock valued at $4,725,926,000 after purchasing an additional 15,625,543 shares during the period. Norges Bank purchased a new position in Comcast during the 4th quarter worth approximately $2,542,988,000. Harris Associates L P lifted its stake in Comcast by 10.9% during the 4th quarter. Harris Associates L P now owns 18,873,787 shares of the cable giant’s stock valued at $827,616,000 after acquiring an additional 1,854,671 shares during the period. LSV Asset Management boosted its holdings in shares of Comcast by 3.8% in the 4th quarter. LSV Asset Management now owns 15,688,650 shares of the cable giant’s stock valued at $687,947,000 after acquiring an additional 570,050 shares during the last quarter. Finally, Raymond James & Associates increased its stake in shares of Comcast by 2.3% in the fourth quarter. Raymond James & Associates now owns 14,692,327 shares of the cable giant’s stock worth $644,258,000 after acquiring an additional 329,278 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wells Fargo & Company cut their price target on Comcast from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Macquarie reduced their price target on Comcast from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Deutsche Bank Aktiengesellschaft lowered their price objective on Comcast from $55.00 to $53.00 in a research report on Friday, April 5th. The Goldman Sachs Group started coverage on shares of Comcast in a report on Tuesday, June 25th. They set a “buy” rating and a $44.00 target price for the company. Finally, StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $48.62.

Comcast Price Performance

Comcast stock opened at $39.16 on Monday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.13. The company has a 50-day moving average price of $38.71 and a 200 day moving average price of $41.37. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.46. The stock has a market cap of $153.65 billion, a P/E ratio of 10.36, a PEG ratio of 0.98 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The firm had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. During the same period in the prior year, the firm posted $0.92 earnings per share. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. Sell-side analysts anticipate that Comcast Co. will post 4.21 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be given a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 3.17%. Comcast’s payout ratio is currently 32.80%.

Insiders Place Their Bets

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the transaction, the insider now directly owns 2,000,000 shares in the company, valued at $6,380,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.26% of the stock is currently owned by insiders.

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.