McLean Asset Management Corp Trims Position in Comcast Co. (NASDAQ:CMCSA)

McLean Asset Management Corp trimmed its holdings in Comcast Co. (NASDAQ:CMCSA) by 5.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 9,075 shares of the cable giant’s stock after selling 549 shares during the quarter. McLean Asset Management Corp’s holdings in Comcast were worth $335,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Promus Capital LLC purchased a new position in Comcast during the fourth quarter worth about $25,000. Roxbury Financial LLC purchased a new position in Comcast during the fourth quarter worth about $27,000. Wingate Wealth Advisors Inc. purchased a new position in Comcast during the fourth quarter worth about $28,000. Retirement Wealth Solutions LLC raised its holdings in Comcast by 126.9% during the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant’s stock worth $30,000 after purchasing an additional 448 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new position in Comcast during the fourth quarter worth about $33,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of several analyst reports. Argus cut shares of Comcast from a “buy” rating to a “hold” rating in a report on Tuesday, May 6th. Citigroup lowered their target price on shares of Comcast from $44.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Rosenblatt Securities restated a “neutral” rating and set a $36.00 target price on shares of Comcast in a research report on Monday, April 28th. BNP Paribas lowered shares of Comcast from a “neutral” rating to an “underperform” rating and set a $31.00 target price on the stock. in a research report on Thursday, April 10th. Finally, KeyCorp lowered their target price on shares of Comcast from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.10.

Comcast Stock Down 0.7%

CMCSA stock opened at $34.33 on Tuesday. The company’s 50 day simple moving average is $34.58 and its 200-day simple moving average is $36.57. The firm has a market capitalization of $128.18 billion, a PE ratio of 8.27, a P/E/G ratio of 1.78 and a beta of 0.97. Comcast Co. 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 1.09, a current ratio of 0.68 and a quick ratio of 0.68.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. The business had revenue of $29.89 billion for the quarter, compared to analyst estimates of $29.82 billion. During the same period in the prior year, the business earned $1.04 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Equities analysts expect that Comcast Co. will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be given 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 yield of 3.85%. Comcast’s dividend payout ratio (DPR) is currently 32.43%.

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.