Cornercap Investment Counsel Inc. Lowers Stock Holdings in Comcast Corporation (NASDAQ:CMCSA)

Cornercap Investment Counsel Inc. reduced its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,238 shares of the cable giant’s stock after selling 772 shares during the period. Comcast comprises about 1.0% of Cornercap Investment Counsel Inc.’s holdings, making the stock its 14th largest holding. Cornercap Investment Counsel Inc.’s holdings in Comcast were worth $1,964,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Sculati Wealth Management LLC lifted its position in shares of Comcast by 0.9% during the fourth quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant’s stock worth $1,156,000 after purchasing an additional 285 shares during the last quarter. Beck Mack & Oliver LLC lifted its position in shares of Comcast by 2.0% during the fourth quarter. Beck Mack & Oliver LLC now owns 15,539 shares of the cable giant’s stock worth $583,000 after purchasing an additional 300 shares during the last quarter. Toth Financial Advisory Corp lifted its position in shares of Comcast by 9.0% during the first quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant’s stock worth $134,000 after purchasing an additional 300 shares during the last quarter. Cypress Wealth Services LLC lifted its position in shares of Comcast by 1.7% during the first quarter. Cypress Wealth Services LLC now owns 18,706 shares of the cable giant’s stock worth $690,000 after purchasing an additional 318 shares during the last quarter. Finally, Lakeshore Capital Group Inc. lifted its position in shares of Comcast by 3.3% during the first quarter. Lakeshore Capital Group Inc. now owns 10,112 shares of the cable giant’s stock worth $373,000 after purchasing an additional 319 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Price Performance

NASDAQ CMCSA opened at $35.64 on Tuesday. Comcast Corporation has a 12 month low of $31.44 and a 12 month high of $45.31. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $133.07 billion, a PE ratio of 8.76, a P/E/G ratio of 1.69 and a beta of 0.95. The company’s 50 day simple moving average is $34.98 and its 200 day simple moving average is $35.38.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The business had revenue of $29.89 billion for the quarter, compared to analyst estimates of $29.82 billion. During the same quarter last year, the business earned $1.04 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities research analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.70%. Comcast’s dividend payout ratio is presently 32.43%.

Analysts Set New Price Targets

Several equities analysts have recently commented on CMCSA shares. Evercore ISI reduced their price target on shares of Comcast from $44.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. BNP Paribas cut shares of Comcast from a “neutral” rating to an “underperform” rating and set a $31.00 target price on the stock. in a report on Thursday, April 10th. Morgan Stanley set a $37.00 target price on shares of Comcast in a report on Friday, April 25th. Moffett Nathanson raised their target price on shares of Comcast from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, June 12th. Finally, New Street Research cut their target price on shares of Comcast from $44.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $40.98.

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.