Red Spruce Capital LLC Lowers Stock Position in Comcast Corporation $CMCSA

Red Spruce Capital LLC lowered its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,211 shares of the cable giant’s stock after selling 330 shares during the quarter. Red Spruce Capital LLC’s holdings in Comcast were worth $1,792,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Advisor OS LLC lifted its position in Comcast by 33.2% during the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock valued at $1,308,000 after buying an additional 8,841 shares during the period. Resona Asset Management Co. Ltd. lifted its position in Comcast by 10.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant’s stock valued at $47,254,000 after buying an additional 118,839 shares during the period. OMNI 360 Wealth Inc. purchased a new position in Comcast during the first quarter valued at $335,000. DAVENPORT & Co LLC lifted its position in Comcast by 41.7% during the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant’s stock valued at $157,766,000 after buying an additional 1,261,278 shares during the period. Finally, Kestra Investment Management LLC lifted its position in Comcast by 49.5% during the first quarter. Kestra Investment Management LLC now owns 71,331 shares of the cable giant’s stock valued at $2,632,000 after buying an additional 23,607 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Trading Down 1.0%

Comcast stock opened at $33.06 on Monday. The business has a 50-day simple moving average of $33.79 and a two-hundred day simple moving average of $34.59. The company has a market cap of $122.06 billion, a P/E ratio of 5.46, a P/E/G ratio of 1.98 and a beta of 0.93. Comcast Corporation has a 52-week low of $31.03 and a 52-week high of $45.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The business had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.21 EPS. Analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s payout ratio is presently 21.82%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CMCSA. Morgan Stanley reduced their price target on Comcast from $40.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, August 4th. Barclays lowered their price target on Comcast from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, August 1st. Royal Bank Of Canada started coverage on Comcast in a research report on Monday, September 8th. They issued a “sector perform” rating and a $38.00 price target for the company. Sanford C. Bernstein lowered their price target on Comcast from $37.00 to $36.00 and set a “market perform” rating for the company in a research report on Wednesday, September 10th. Finally, Rosenblatt Securities lifted their price target on Comcast from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $40.56.

Comcast 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.