Comcast Co. (NASDAQ:CMCSA) Shares Sold by Fortitude Family Office LLC

Fortitude Family Office LLC lowered its position in Comcast Co. (NASDAQ:CMCSA) by 36.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,441 shares of the cable giant’s stock after selling 810 shares during the quarter. Fortitude Family Office LLC’s holdings in Comcast were worth $53,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors lifted its stake in shares of Comcast by 8.6% during the fourth quarter. Capital World Investors now owns 141,680,277 shares of the cable giant’s stock worth $5,317,167,000 after purchasing an additional 11,255,683 shares in the last quarter. Norges Bank acquired a new position in shares of Comcast in the fourth quarter worth about $3,835,226,000. Geode Capital Management LLC lifted its stake in shares of Comcast by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant’s stock worth $3,212,244,000 after acquiring an additional 1,006,272 shares in the last quarter. Dodge & Cox lifted its stake in shares of Comcast by 6.8% in the fourth quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant’s stock worth $2,968,723,000 after acquiring an additional 5,039,823 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Comcast by 12.0% in the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant’s stock worth $1,890,027,000 after acquiring an additional 5,402,377 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on CMCSA. Rosenblatt Securities reiterated a “neutral” rating and issued a $36.00 price target on shares of Comcast in a research note on Monday, April 28th. Morgan Stanley set a $37.00 price objective on Comcast in a report on Friday, April 25th. UBS Group set a $44.50 price objective on Comcast in a report on Friday, April 25th. Wall Street Zen raised Comcast from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 27th. Finally, Argus lowered Comcast from a “buy” rating to a “hold” rating in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Comcast presently has an average rating of “Moderate Buy” and a consensus price target of $42.10.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $35.18 on Thursday. The stock has a fifty day moving average price of $34.38 and a two-hundred day moving average price of $36.26. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market cap of $131.35 billion, a P/E ratio of 8.48, a PEG ratio of 1.78 and a beta of 0.95. Comcast Co. has a 1 year low of $31.44 and a 1 year high of $45.31.

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

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast’s payout ratio 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.