First Financial Bankshares Inc Trims Stock Position in Comcast Corporation $CMCSA

First Financial Bankshares Inc lowered its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 43.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 453,862 shares of the cable giant’s stock after selling 342,060 shares during the period. First Financial Bankshares Inc’s holdings in Comcast were worth $16,748,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Advisor OS LLC grew its position in shares of Comcast by 33.2% during the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock valued at $1,308,000 after acquiring an additional 8,841 shares during the period. Resona Asset Management Co. Ltd. grew its position in shares of Comcast by 10.2% during the 1st 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 period. OMNI 360 Wealth Inc. acquired a new stake in shares of Comcast during the 1st quarter valued at about $335,000. DAVENPORT & Co LLC grew its position in shares of Comcast by 41.7% during the 1st 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 period. Finally, American Financial Group Inc. grew its position in shares of Comcast by 29.0% during the 1st quarter. American Financial Group Inc. now owns 267,000 shares of the cable giant’s stock valued at $9,852,000 after acquiring an additional 60,000 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CMCSA shares. Argus cut Comcast from a “buy” rating to a “hold” rating in a research report on Tuesday, May 6th. Rothschild & Co Redburn lowered their price objective on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Citigroup reiterated a “buy” rating on shares of Comcast in a report on Tuesday, August 26th. Barclays lowered their price objective on Comcast from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, August 1st. Finally, UBS Group lowered their price objective on Comcast from $40.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Comcast presently has an average rating of “Hold” and an average target price of $40.73.

Comcast Trading Up 1.2%

Shares of Comcast stock opened at $33.97 on Monday. The stock has a market cap of $125.42 billion, a P/E ratio of 5.61, a P/E/G ratio of 2.03 and a beta of 0.93. The stock’s 50 day simple moving average is $34.14 and its 200-day simple moving average is $34.74. Comcast Corporation has a 1-year low of $31.03 and a 1-year high of $45.31. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91.

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

Comcast Announces Dividend

The company 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. This represents a $1.32 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s payout ratio is presently 21.82%.

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.