Empirical Finance LLC Sells 13,337 Shares of Comcast Corporation $CMCSA

Empirical Finance LLC decreased its position in Comcast Corporation (NASDAQ:CMCSA) by 7.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 158,071 shares of the cable giant’s stock after selling 13,337 shares during the period. Empirical Finance LLC’s holdings in Comcast were worth $5,642,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cranbrook Wealth Management LLC grew its holdings in Comcast by 86.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after acquiring an additional 350 shares during the last quarter. Global Trust Asset Management LLC boosted its holdings in shares of Comcast by 906.8% during the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after purchasing an additional 671 shares during the period. Avalon Trust Co grew its stake in shares of Comcast by 433.3% in the second quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after purchasing an additional 624 shares during the last quarter. Ransom Advisory Ltd purchased a new position in Comcast during the 1st quarter valued at about $29,000. Finally, Princeton Global Asset Management LLC raised its position in Comcast by 403.5% during the 2nd quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant’s stock valued at $31,000 after purchasing an additional 686 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Performance

Shares of Comcast stock opened at $27.36 on Wednesday. Comcast Corporation has a 12 month low of $25.75 and a 12 month high of $44.03. The firm has a market capitalization of $99.70 billion, a P/E ratio of 4.55, a P/E/G ratio of 1.78 and a beta of 0.92. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The business has a fifty day simple moving average of $29.86 and a two-hundred day simple moving average of $32.77.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The company had revenue of $30.34 billion during the quarter. On average, equities analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 14th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Wednesday, January 14th. Comcast’s dividend payout ratio (DPR) is presently 21.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Evercore ISI cut their price objective on Comcast from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. UBS Group set a $34.00 price target on Comcast in a research note on Friday, October 31st. JPMorgan Chase & Co. reduced their price objective on shares of Comcast from $38.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. BNP Paribas Exane upgraded shares of Comcast from an “underperform” rating to a “neutral” rating and set a $28.00 price objective for the company in a report on Tuesday, November 4th. Finally, BNP Paribas raised shares of Comcast from an “underperform” rating to a “neutral” rating and set a $28.00 target price on the stock in a research note on Tuesday, November 4th. Eleven investment analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Comcast currently has a consensus rating of “Hold” and a consensus target price of $35.92.

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.