Ieq Capital LLC Trims Holdings in Comcast Co. (NASDAQ:CMCSA)

Ieq Capital LLC reduced its stake in shares of Comcast Co. (NASDAQ:CMCSAGet Rating) by 49.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,962 shares of the cable giant’s stock after selling 71,056 shares during the quarter. Ieq Capital LLC’s holdings in Comcast were worth $2,111,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. First Republic Investment Management Inc. boosted its holdings in shares of Comcast by 1.8% in the third quarter. First Republic Investment Management Inc. now owns 2,090,651 shares of the cable giant’s stock valued at $61,319,000 after purchasing an additional 36,789 shares during the period. Citizens Business Bank purchased a new stake in shares of Comcast in the 3rd quarter worth $2,386,000. Oak Harbor Wealth Partners LLC grew its position in shares of Comcast by 11.9% during the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 31,770 shares of the cable giant’s stock worth $932,000 after buying an additional 3,389 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Comcast by 2.8% during the third quarter. Illinois Municipal Retirement Fund now owns 498,634 shares of the cable giant’s stock valued at $14,625,000 after buying an additional 13,701 shares during the period. Finally, Coastline Trust Co lifted its stake in Comcast by 0.5% in the third quarter. Coastline Trust Co now owns 84,838 shares of the cable giant’s stock worth $2,488,000 after acquiring an additional 432 shares during the period. 82.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CMCSA shares. Citigroup boosted their price target on shares of Comcast to $38.00 in a report on Tuesday, November 1st. Credit Suisse Group dropped their target price on Comcast from $57.00 to $51.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 27th. Scotiabank reduced their price target on Comcast from $47.00 to $43.00 and set a “sector outperform” rating for the company in a research report on Monday, October 17th. Deutsche Bank Aktiengesellschaft dropped their price objective on Comcast from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, October 18th. Finally, Morgan Stanley reduced their target price on shares of Comcast from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, October 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.27.

Comcast Stock Performance

NASDAQ CMCSA opened at $40.26 on Tuesday. The firm has a market capitalization of $174.06 billion, a P/E ratio of 35.01, a PEG ratio of 0.82 and a beta of 1.00. The stock has a 50-day simple moving average of $36.01 and a two-hundred day simple moving average of $35.42. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.84 and a current ratio of 0.84. Comcast Co. has a fifty-two week low of $28.39 and a fifty-two week high of $51.20.

Comcast (NASDAQ:CMCSAGet Rating) last announced its quarterly earnings results on Thursday, October 27th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.07. The company had revenue of $29.85 billion during the quarter, compared to the consensus estimate of $29.68 billion. Comcast had a return on equity of 17.61% and a net margin of 4.46%. On average, equities analysts forecast that Comcast Co. will post 3.6 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Wednesday, January 4th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Tuesday, January 3rd. Comcast’s payout ratio is currently 93.91%.

About Comcast

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Comcast Corp. is a media, entertainment, and communications company, which engages in the provision of video, Internet, and phone services. It operates through the following segments: Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks and Sky. The Cable Communications segment provides video, Internet, voice, and security and automation services under the Xfinity brand.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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