Comcast Corporation $CMCSA Shares Sold by Park Place Capital Corp

Park Place Capital Corp cut its stake in Comcast Corporation (NASDAQ:CMCSA) by 31.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 2,655 shares of the cable giant’s stock after selling 1,242 shares during the period. Park Place Capital Corp’s holdings in Comcast were worth $96,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CMCSA. Inlight Wealth Management LLC purchased a new position in Comcast in the first quarter valued at approximately $26,000. Cranbrook Wealth Management LLC raised its holdings in Comcast by 86.0% in the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock valued at $27,000 after buying an additional 350 shares during the period. Global Trust Asset Management LLC raised its holdings in Comcast by 906.8% in the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock valued at $27,000 after buying an additional 671 shares during the period. Abound Financial LLC purchased a new position in Comcast in the first quarter valued at approximately $29,000. Finally, Ransom Advisory Ltd purchased a new position in Comcast in the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Trading Down 0.2%

CMCSA opened at $31.42 on Wednesday. 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. The firm has a market capitalization of $116.01 billion, a P/E ratio of 5.19, a P/E/G ratio of 1.89 and a beta of 0.93. The firm’s 50 day moving average is $32.98 and its 200-day moving average is $34.26.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping 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 the consensus estimate of $29.81 billion. During the same quarter last year, the company earned $1.21 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. Comcast’s dividend payout ratio (DPR) is presently 21.82%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CMCSA. Loop Capital cut their price target on shares of Comcast from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, September 22nd. Moffett Nathanson raised their price target on shares of Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday, September 12th. Rosenblatt Securities lifted their price objective on shares of Comcast from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, August 4th. Morgan Stanley dropped their price objective on shares of Comcast from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, August 4th. Finally, Barclays dropped their price objective on shares of Comcast from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Comcast currently has an average rating of “Hold” and a consensus target price of $40.11.

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.