Perigon Wealth Management LLC Lowers Stock Holdings in Comcast Corporation $CMCSA

Perigon Wealth Management LLC trimmed its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 3.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,578 shares of the cable giant’s stock after selling 3,290 shares during the quarter. Perigon Wealth Management LLC’s holdings in Comcast were worth $3,661,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Dodge & Cox boosted its holdings in Comcast by 19.1% during the 1st quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant’s stock valued at $3,476,635,000 after acquiring an additional 15,115,074 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Comcast by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,636,264 shares of the cable giant’s stock worth $1,240,955,000 after buying an additional 926,663 shares during the period. Nuveen LLC purchased a new stake in shares of Comcast during the first quarter worth approximately $940,015,000. Harris Associates L P raised its holdings in Comcast by 0.5% in the first quarter. Harris Associates L P now owns 20,594,519 shares of the cable giant’s stock valued at $759,938,000 after acquiring an additional 111,662 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its stake in Comcast by 2.2% in the first quarter. Raymond James Financial Inc. now owns 20,243,358 shares of the cable giant’s stock worth $746,980,000 after acquiring an additional 427,705 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $31.62 on Friday. The stock has a market cap of $116.75 billion, a P/E ratio of 5.23, a P/E/G ratio of 1.90 and a beta of 0.93. Comcast Corporation has a twelve month low of $31.03 and a twelve month high of $45.31. The stock has a 50 day moving average of $33.19 and a two-hundred day moving average of $34.34. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99.

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 for the quarter, compared to analysts’ expectations of $29.81 billion. During the same period in the previous year, the company posted $1.21 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, research analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s dividend payout ratio is presently 21.82%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CMCSA. Benchmark reissued a “buy” rating on shares of Comcast in a research report on Friday, July 18th. Rothschild & Co Redburn dropped their target price on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Sanford C. Bernstein cut their price target on Comcast from $37.00 to $36.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 10th. Barclays decreased their price target on Comcast from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, August 1st. Finally, Scotiabank raised their target price on Comcast from $44.50 to $45.00 and gave the stock a “sector perform” rating in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.19.

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.