Kennedy Investment Group Decreases Stock Holdings in Comcast Corporation $CMCSA

Kennedy Investment Group lowered its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 23.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,254 shares of the cable giant’s stock after selling 5,394 shares during the period. Kennedy Investment Group’s holdings in Comcast were worth $616,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisor OS LLC grew its stake in shares of Comcast by 33.2% during the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock worth $1,308,000 after purchasing an additional 8,841 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its position in Comcast by 10.2% in 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 acquiring an additional 118,839 shares during the last quarter. OMNI 360 Wealth Inc. purchased a new stake in Comcast in the first quarter valued at $335,000. DAVENPORT & Co LLC lifted its position in Comcast by 41.7% in the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant’s stock valued at $157,766,000 after acquiring an additional 1,261,278 shares during the last quarter. Finally, Kestra Investment Management LLC lifted its position in Comcast by 49.5% in the first quarter. Kestra Investment Management LLC now owns 71,331 shares of the cable giant’s stock valued at $2,632,000 after acquiring an additional 23,607 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CMCSA. Morgan Stanley reduced their price target on shares of Comcast from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, August 4th. Arete Research raised shares of Comcast to a “hold” rating in a research report on Tuesday, July 8th. Scotiabank boosted their price target on shares of Comcast from $44.50 to $45.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Loop Capital reduced their price target on shares of Comcast from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Monday. Finally, The Goldman Sachs Group reduced their price target on shares of Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $40.19.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $31.61 on Thursday. The company has a 50-day simple moving average of $33.25 and a 200-day simple moving average of $34.38. Comcast Corporation has a one year low of $31.03 and a one year high of $45.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $116.71 billion, a price-to-earnings ratio of 5.22, a PEG ratio of 1.89 and a beta of 0.93.

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

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s dividend payout ratio is currently 21.82%.

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.