Bartlett & CO. Wealth Management LLC Decreases Stock Position in Comcast Corporation $CMCSA

Bartlett & CO. Wealth Management LLC lessened its holdings in Comcast Corporation (NASDAQ:CMCSA) by 9.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 70,290 shares of the cable giant’s stock after selling 7,484 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Comcast were worth $2,509,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Inlight Wealth Management LLC acquired a new stake in shares of Comcast during the first quarter worth $26,000. Global Trust Asset Management LLC raised its stake in Comcast by 906.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after acquiring an additional 671 shares during the last quarter. Cranbrook Wealth Management LLC lifted its position in Comcast by 86.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after acquiring an additional 350 shares during the period. Ransom Advisory Ltd purchased a new stake in Comcast during the 1st quarter valued at about $29,000. Finally, Abound Financial LLC acquired a new position in shares of Comcast in the first quarter valued at about $29,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Benchmark reaffirmed a “buy” rating on shares of Comcast in a report on Friday, July 18th. Arete Research upgraded shares of Comcast to a “hold” rating in a research note on Tuesday, July 8th. Rothschild & Co Redburn dropped their price objective on shares of Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Barclays reduced their target price on shares of Comcast from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, August 1st. Finally, Bank of America decreased their target price on shares of Comcast from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Comcast has a consensus rating of “Hold” and an average price target of $40.07.

Comcast Stock Down 1.5%

CMCSA stock opened at $30.94 on Thursday. Comcast Corporation has a one year low of $30.90 and a one year high of $45.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The firm’s fifty day moving average is $32.89 and its 200 day moving average is $34.24. The firm has a market cap of $114.24 billion, a PE ratio of 5.11, a P/E/G ratio of 1.84 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The business had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. During the same period in the prior year, the company posted $1.21 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts forecast that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be given a $0.33 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.3%. Comcast’s payout ratio is 21.82%.

About Comcast

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.