E&G Advisors LP Sells 1,499 Shares of Comcast Corporation (NASDAQ:CMCSA)

E&G Advisors LP reduced its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 5.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,514 shares of the cable giant’s stock after selling 1,499 shares during the quarter. E&G Advisors LP’s holdings in Comcast were worth $943,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Promus Capital LLC bought a new stake in Comcast in the fourth quarter valued at about $25,000. Inlight Wealth Management LLC acquired a new stake in shares of Comcast in the 1st quarter valued at approximately $26,000. Retirement Wealth Solutions LLC raised its position in shares of Comcast by 126.9% in the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 448 shares during the period. Mpwm Advisory Solutions LLC acquired a new stake in shares of Comcast in the 4th quarter valued at approximately $33,000. Finally, Global Wealth Strategies & Associates raised its position in shares of Comcast by 203.4% in the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant’s stock valued at $33,000 after acquiring an additional 600 shares during the period. 84.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of several recent analyst reports. Barclays lowered their target price on shares of Comcast from $37.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. Scotiabank restated a “sector perform” rating and issued a $44.50 price objective (down previously from $45.00) on shares of Comcast in a research report on Friday, April 25th. Wells Fargo & Company downgraded Comcast from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $37.00 to $31.00 in a report on Monday, April 14th. BNP Paribas downgraded Comcast from a “neutral” rating to an “underperform” rating and set a $31.00 price target for the company. in a report on Thursday, April 10th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $36.00 target price on shares of Comcast in a research note on Monday, April 28th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $42.10.

Comcast Stock Up 1.8%

Comcast stock opened at $35.21 on Wednesday. The company has a market cap of $131.46 billion, a P/E ratio of 8.65, a price-to-earnings-growth ratio of 1.69 and a beta of 0.95. The company has a fifty day simple moving average of $34.53 and a 200 day simple moving average of $35.70. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.06. Comcast Corporation has a 1-year low of $31.44 and a 1-year high of $45.31.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.08. The company had revenue of $29.89 billion during the quarter, compared to analysts’ expectations of $29.82 billion. Comcast had a return on equity of 19.70% and a net margin of 12.72%. Comcast’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 EPS. Research analysts anticipate that Comcast Corporation 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 paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 annualized dividend and a dividend yield of 3.75%. Comcast’s dividend payout ratio is presently 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.