Legal & General Group Plc Lowers Position in Comcast Co. (NASDAQ:CMCSA)

Legal & General Group Plc trimmed its position in shares of Comcast Co. (NASDAQ:CMCSA) by 0.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,806,043 shares of the cable giant’s stock after selling 36,937 shares during the quarter. Legal & General Group Plc owned 0.81% of Comcast worth $1,245,527,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Steph & Co. boosted its position in shares of Comcast by 154.6% during the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after purchasing an additional 371 shares in the last quarter. Fairscale Capital LLC purchased a new stake in Comcast during the second quarter worth about $26,000. Strategic Financial Concepts LLC acquired a new position in Comcast during the second quarter worth about $27,000. OLD Point Trust & Financial Services N A acquired a new position in Comcast during the fourth quarter worth about $28,000. Finally, IAG Wealth Partners LLC increased its holdings in Comcast by 204.7% in the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after buying an additional 522 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of several research reports. Evercore ISI cut their price target on Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Macquarie reaffirmed a “neutral” rating and issued a $40.00 price target on shares of Comcast in a report on Wednesday, July 24th. Rosenblatt Securities reissued a “neutral” rating and set a $45.00 price objective on shares of Comcast in a research note on Wednesday, July 24th. Finally, BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 target price on the stock. in a research note on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $45.58.

Comcast Price Performance

CMCSA opened at $41.02 on Friday. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11. The company has a 50 day moving average of $39.66 and a two-hundred day moving average of $39.63. The company has a market cap of $160.95 billion, a P/E ratio of 10.85, a P/E/G ratio of 1.08 and a beta of 1.01. 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 posted its 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 during the quarter, compared to analyst estimates of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.13 earnings per share. On average, analysts expect that Comcast Co. will post 4.23 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.31 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a dividend yield of 3.02%. Comcast’s dividend 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.