Standard Family Office LLC Reduces Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Standard Family Office LLC trimmed its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 43.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,572 shares of the cable giant’s stock after selling 1,211 shares during the period. Standard Family Office LLC’s holdings in Comcast were worth $85,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in Comcast by 0.6% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 29,178 shares of the cable giant’s stock valued at $1,579,000 after acquiring an additional 175 shares during the last quarter. Valley Brook Capital Group grew its stake in shares of Comcast by 1.4% during the 1st quarter. Valley Brook Capital Group now owns 13,225 shares of the cable giant’s stock valued at $715,000 after buying an additional 178 shares during the period. Summit X LLC grew its stake in shares of Comcast by 0.6% during the 1st quarter. Summit X LLC now owns 30,062 shares of the cable giant’s stock valued at $1,628,000 after buying an additional 178 shares during the period. Reynders McVeigh Capital Management LLC grew its stake in shares of Comcast by 2.3% during the 1st quarter. Reynders McVeigh Capital Management LLC now owns 8,136 shares of the cable giant’s stock valued at $440,000 after buying an additional 182 shares during the period. Finally, Cordant Inc. grew its stake in shares of Comcast by 4.9% during the 1st quarter. Cordant Inc. now owns 4,017 shares of the cable giant’s stock valued at $217,000 after buying an additional 186 shares during the period. Hedge funds and other institutional investors own 82.98% of the company’s stock.

In related news, CEO Brian L. Roberts sold 709,673 shares of the stock in a transaction dated Friday, April 30th. The shares were sold at an average price of $55.20, for a total transaction of $39,173,949.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kenneth J. Bacon sold 4,031 shares of the stock in a transaction dated Friday, June 4th. The stock was sold at an average price of $56.89, for a total transaction of $229,323.59. Following the sale, the director now owns 29,580 shares in the company, valued at approximately $1,682,806.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 717,670 shares of company stock worth $39,636,593. 1.04% of the stock is owned by company insiders.

Several analysts have recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Comcast in a research note on Tuesday, March 16th. They set an “underweight” rating and a $48.00 price objective for the company. Raymond James upped their price target on shares of Comcast from $61.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, April 30th. Morgan Stanley upped their price target on shares of Comcast from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, March 4th. HSBC upped their price target on shares of Comcast from $56.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, May 24th. Finally, Oppenheimer raised shares of Comcast from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a research report on Friday, April 30th. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $61.86.

Shares of Comcast stock opened at $56.60 on Friday. The firm has a market cap of $259.27 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 1.37 and a beta of 1.02. The firm has a 50-day moving average of $55.69. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.11. Comcast Co. has a 1 year low of $37.77 and a 1 year high of $59.11.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, April 29th. The cable giant reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.17. The business had revenue of $27.21 billion for the quarter, compared to analyst estimates of $26.83 billion. Comcast had a net margin of 11.25% and a return on equity of 13.75%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.77 EPS. Equities analysts expect that Comcast Co. will post 2.99 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 28th. Investors of record on Wednesday, July 7th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, July 6th. This represents a $1.00 annualized dividend and a yield of 1.77%. Comcast’s dividend payout ratio (DPR) is 38.31%.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, wireless, and security and automation services to residential and business customers under the Xfinity brand, as well as sells advertising.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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