First Merchants Corp Has $6.46 Million Stock Position in Comcast Corporation $CMCSA

First Merchants Corp lowered its stake in Comcast Corporation (NASDAQ:CMCSA) by 5.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,074 shares of the cable giant’s stock after selling 10,640 shares during the period. First Merchants Corp’s holdings in Comcast were worth $6,463,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Clear Creek Financial Management LLC lifted its holdings in shares of Comcast by 6.0% during the second quarter. Clear Creek Financial Management LLC now owns 21,671 shares of the cable giant’s stock worth $773,000 after purchasing an additional 1,222 shares during the period. Nelson Capital Management LLC lifted its holdings in shares of Comcast by 0.9% during the second quarter. Nelson Capital Management LLC now owns 73,237 shares of the cable giant’s stock worth $2,614,000 after purchasing an additional 669 shares during the period. Secured Retirement Advisors LLC lifted its holdings in shares of Comcast by 3.8% during the second quarter. Secured Retirement Advisors LLC now owns 36,057 shares of the cable giant’s stock worth $1,287,000 after purchasing an additional 1,308 shares during the period. Lakeshore Capital Group Inc. lifted its holdings in shares of Comcast by 31.5% during the second quarter. Lakeshore Capital Group Inc. now owns 13,293 shares of the cable giant’s stock worth $474,000 after purchasing an additional 3,181 shares during the period. Finally, REAP Financial Group LLC lifted its holdings in shares of Comcast by 66.0% during the second quarter. REAP Financial Group LLC now owns 1,668 shares of the cable giant’s stock worth $60,000 after purchasing an additional 663 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Trading Up 0.6%

CMCSA opened at $30.77 on Thursday. Comcast Corporation has a 1-year low of $30.30 and a 1-year high of $45.31. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The company has a market cap of $113.61 billion, a P/E ratio of 5.09, a price-to-earnings-growth ratio of 1.82 and a beta of 0.94. The company has a fifty day moving average price of $32.60 and a two-hundred day moving average price of $34.05.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating 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 firm had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. During the same period in the previous year, the firm posted $1.21 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. Analysts predict that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Moffett Nathanson lifted their price target on shares of Comcast from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Rothschild & Co Redburn cut their price target on shares of Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Comcast from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Monday. UBS Group set a $43.00 target price on shares of Comcast in a report on Friday, October 3rd. Finally, The Goldman Sachs Group dropped their target price on shares of Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $39.94.

Comcast Company 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.