Edmp Inc. Decreases Stock Position in Comcast Corporation $CMCSA

Edmp Inc. cut its stake in Comcast Corporation (NASDAQ:CMCSA) by 10.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 23,242 shares of the cable giant’s stock after selling 2,673 shares during the period. Edmp Inc.’s holdings in Comcast were worth $829,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Inlight Wealth Management LLC acquired a new stake in shares of Comcast during the first quarter worth $26,000. Cranbrook Wealth Management LLC raised its holdings in shares of Comcast by 86.0% during the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after purchasing an additional 350 shares during the period. Global Trust Asset Management LLC increased its holdings in shares of Comcast by 906.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after acquiring an additional 671 shares during the period. Abound Financial LLC bought a new stake in Comcast in the 1st quarter valued at about $29,000. Finally, Ransom Advisory Ltd acquired a new position in Comcast during the 1st quarter valued at about $29,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Stock Performance

NASDAQ:CMCSA opened at $29.41 on Tuesday. Comcast Corporation has a twelve month low of $29.39 and a twelve month high of $45.31. The company has a 50-day moving average of $32.42 and a 200-day moving average of $33.85. The firm has a market cap of $108.59 billion, a price-to-earnings ratio of 4.86, a price-to-earnings-growth ratio of 1.74 and a beta of 0.94. 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 Monday, March 13th. The cable giant reported $0.77 EPS for the quarter. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company had revenue of $30.34 billion during the quarter. Analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Wednesday, October 1st. Comcast’s dividend payout ratio (DPR) is presently 21.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CMCSA shares. Citigroup reaffirmed a “buy” rating on shares of Comcast in a report on Tuesday, August 26th. KeyCorp cut their price objective on shares of Comcast from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, October 3rd. Scotiabank reiterated a “sector perform” rating and issued a $45.50 target price (up previously from $45.00) on shares of Comcast in a research report on Monday, October 6th. Royal Bank Of Canada assumed coverage on shares of Comcast in a research report on Monday, September 8th. They issued a “sector perform” rating and a $38.00 target price for the company. Finally, Arete Research upgraded shares of Comcast to a “hold” rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $39.94.

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.