Diversified Trust Co. Sells 53,128 Shares of Comcast Corporation $CMCSA

Diversified Trust Co. lessened its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 26.8% during the second quarter, HoldingsChannel.com reports. The fund owned 144,812 shares of the cable giant’s stock after selling 53,128 shares during the period. Diversified Trust Co.’s holdings in Comcast were worth $3,555,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Comcast by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock valued at $11,038,712,000 after purchasing an additional 2,160,829 shares during the last quarter. North Dakota State Investment Board bought a new stake in Comcast in the 4th quarter worth approximately $3,754,000. Inceptionr LLC purchased a new stake in Comcast in the first quarter worth approximately $660,000. Bank of America Corp DE boosted its stake in Comcast by 10.2% in the first quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant’s stock worth $1,173,232,000 after buying an additional 3,783,234 shares in the last quarter. Finally, Vest Financial LLC grew its position in Comcast by 72.1% during the fourth quarter. Vest Financial LLC now owns 232,883 shares of the cable giant’s stock valued at $6,961,000 after acquiring an additional 97,601 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Price Performance

Shares of Comcast stock opened at $26.19 on Friday. The company’s fifty day simple moving average is $23.85 and its two-hundred day simple moving average is $26.89. Comcast Corporation has a 12-month low of $21.28 and a 12-month high of $34.45. The firm has a market cap of $92.94 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 1.49 and a beta of 0.67. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. The company had revenue of $29.94 billion during the quarter, compared to analyst estimates of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. Comcast’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 earnings per share. As a group, equities analysts expect that Comcast Corporation will post 3.52 EPS for the current year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 annualized dividend and a yield of 5.0%. Comcast’s dividend payout ratio (DPR) is 42.72%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CMCSA. Deutsche Bank Aktiengesellschaft raised shares of Comcast from a “hold” rating to a “buy” rating and decreased their price target for the stock from $34.00 to $32.00 in a research note on Tuesday, June 30th. Moffett Nathanson reduced their target price on shares of Comcast from $53.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, June 16th. Morgan Stanley set a $29.00 target price on shares of Comcast in a research report on Friday, July 24th. Weiss Ratings downgraded shares of Comcast from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Finally, The Goldman Sachs Group cut their price target on shares of Comcast from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.96.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.