Harvey Capital Management Inc. Sells 6,567 Shares of Comcast Corporation (NASDAQ:CMCSA)

Harvey Capital Management Inc. reduced its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 14.2% during the first quarter, Holdings Channel reports. The institutional investor owned 39,800 shares of the cable giant’s stock after selling 6,567 shares during the period. Harvey Capital Management Inc.’s holdings in Comcast were worth $1,469,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its stake in Comcast by 544.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 6,318 shares of the cable giant’s stock valued at $218,000 after buying an additional 5,337 shares during the last quarter. Flossbach Von Storch SE bought a new position in Comcast in the 1st quarter worth approximately $251,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of Comcast by 1.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 4,003,389 shares of the cable giant’s stock worth $143,254,000 after acquiring an additional 37,903 shares during the period. OMNI 360 Wealth Inc. bought a new position in shares of Comcast in the first quarter worth $335,000. Finally, Stratos Investment Management LLC boosted its holdings in shares of Comcast by 30.9% in the first quarter. Stratos Investment Management LLC now owns 30,434 shares of the cable giant’s stock worth $1,123,000 after acquiring an additional 7,185 shares during the period. 84.32% of the stock is owned by institutional investors.

Comcast Stock Performance

NASDAQ:CMCSA opened at $36.00 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65. Comcast Corporation has a fifty-two week low of $31.44 and a fifty-two week high of $45.31. The stock has a market capitalization of $134.41 billion, a P/E ratio of 8.85, a PEG ratio of 1.71 and a beta of 0.95. The company has a 50 day moving average price of $34.89 and a 200 day moving average price of $35.47.

Comcast (NASDAQ:CMCSA) last issued 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. The company had revenue of $29.89 billion during the quarter, compared to analysts’ expectations of $29.82 billion. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company posted $1.04 EPS. Equities research analysts forecast that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders 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 annualized dividend and a dividend yield of 3.67%. Comcast’s dividend payout ratio (DPR) is currently 32.43%.

Analyst Ratings Changes

Several equities research analysts have issued reports on CMCSA shares. JPMorgan Chase & Co. dropped their price target on Comcast from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Evercore ISI reduced their target price on Comcast from $44.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Scotiabank restated a “sector perform” rating and issued a $44.50 price target (down previously from $45.00) on shares of Comcast in a research note on Friday, April 25th. Moffett Nathanson boosted their price objective on shares of Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, June 12th. Finally, KeyCorp lowered their price target on Comcast from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $40.96.

Comcast Company Profile

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.