Apollon Wealth Management LLC Reduces Stock Position in Comcast Co. (NASDAQ:CMCSA)

Apollon Wealth Management LLC decreased its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 2.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,929 shares of the cable giant’s stock after selling 2,695 shares during the period. Apollon Wealth Management LLC’s holdings in Comcast were worth $4,540,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Hennion & Walsh Asset Management Inc. lifted its position in shares of Comcast by 1.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 38,773 shares of the cable giant’s stock worth $1,518,000 after purchasing an additional 618 shares during the period. Greylin Investment Management Inc bought a new stake in Comcast during the 2nd quarter valued at approximately $275,000. RBA Wealth Management LLC grew its holdings in shares of Comcast by 2.6% during the 2nd quarter. RBA Wealth Management LLC now owns 104,050 shares of the cable giant’s stock worth $4,075,000 after acquiring an additional 2,605 shares during the period. Western Wealth Management LLC raised its position in shares of Comcast by 6.5% in the 2nd quarter. Western Wealth Management LLC now owns 19,328 shares of the cable giant’s stock worth $757,000 after acquiring an additional 1,179 shares in the last quarter. Finally, Donald L. Hagan LLC purchased a new position in shares of Comcast in the 2nd quarter valued at approximately $1,852,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CMCSA. Wells Fargo & Company decreased their price target on shares of Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. BNP Paribas lowered shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 target price for the company. in a report on Tuesday, June 11th. 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. Seaport Res Ptn cut Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. Finally, Benchmark restated a “buy” rating and set a $55.00 price target on shares of Comcast in a report on Monday, May 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Comcast has a consensus rating of “Hold” and an average target price of $45.78.

Comcast Stock Up 1.6 %

NASDAQ CMCSA opened at $40.26 on Tuesday. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.30. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $157.97 billion, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 1.07 and a beta of 1.00. The stock’s 50-day moving average price is $38.74 and its 200-day moving average price is $40.09.

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

Comcast Announces Dividend

The firm 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 $0.31 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 3.08%. Comcast’s payout ratio is presently 32.80%.

Insider Buying and Selling at Comcast

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total value of $10,134,384.37. Following the transaction, the insider now directly owns 2,000,000 shares of the company’s stock, valued at approximately $6,380,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.26% of the company’s stock.

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.