Comcast Corporation (NASDAQ:CMCSA) Shares Sold by Coastal Bridge Advisors LLC

Coastal Bridge Advisors LLC lowered its position in Comcast Corporation (NASDAQ:CMCSA) by 39.0% in the first quarter, Holdings Channel.com reports. The firm owned 13,912 shares of the cable giant’s stock after selling 8,879 shares during the quarter. Coastal Bridge Advisors LLC’s holdings in Comcast were worth $513,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. American Financial Group Inc. lifted its position in shares of Comcast by 29.0% during the 1st quarter. American Financial Group Inc. now owns 267,000 shares of the cable giant’s stock valued at $9,852,000 after acquiring an additional 60,000 shares during the period. Davis R M Inc. lifted its position in shares of Comcast by 1.0% during the 1st quarter. Davis R M Inc. now owns 58,704 shares of the cable giant’s stock valued at $2,166,000 after acquiring an additional 602 shares during the period. Natixis Advisors LLC lifted its position in shares of Comcast by 4.7% during the 1st quarter. Natixis Advisors LLC now owns 3,162,028 shares of the cable giant’s stock valued at $116,678,000 after acquiring an additional 142,169 shares during the period. FSB Premier Wealth Management Inc. lifted its position in shares of Comcast by 16.7% during the 1st quarter. FSB Premier Wealth Management Inc. now owns 45,406 shares of the cable giant’s stock valued at $1,675,000 after acquiring an additional 6,501 shares during the period. Finally, Baader Bank Aktiengesellschaft lifted its position in shares of Comcast by 43.3% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 7,793 shares of the cable giant’s stock valued at $286,000 after acquiring an additional 2,355 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Down 1.0%

Shares of NASDAQ CMCSA opened at $32.50 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $121.35 billion, a PE ratio of 7.99, a P/E/G ratio of 1.59 and a beta of 0.95. The firm has a fifty day moving average of $34.86 and a 200-day moving average of $35.16. Comcast Corporation has a 52-week low of $31.44 and a 52-week high of $45.31.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd were issued a dividend of $0.33 per share. The ex-dividend date was Wednesday, July 2nd. This represents a $1.32 annualized dividend and a dividend yield of 4.06%. Comcast’s payout ratio is 32.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CMCSA shares. Arete Research upgraded shares of Comcast to a “hold” rating in a research report on Tuesday, July 8th. BNP Paribas Exane dropped their price objective on shares of Comcast from $31.00 to $30.00 and set an “underperform” rating for the company in a research note on Friday, April 25th. The Goldman Sachs Group dropped their price objective on shares of Comcast from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Benchmark reissued a “buy” rating on shares of Comcast in a research note on Friday, July 18th. Finally, Wells Fargo & Company cut shares of Comcast from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $37.00 to $31.00 in a research note on Monday, April 14th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $41.13.

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.