Comcast Corporation $CMCSA Shares Sold by Needham Investment Management LLC

Needham Investment Management LLC lessened its stake in Comcast Corporation (NASDAQ:CMCSA) by 11.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 239,500 shares of the cable giant’s stock after selling 29,500 shares during the period. Needham Investment Management LLC’s holdings in Comcast were worth $8,838,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CMCSA. Brighton Jones LLC increased its holdings in Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock valued at $6,240,000 after buying an additional 99,986 shares in the last quarter. CoreCap Advisors LLC grew its position in shares of Comcast by 18.6% during the 4th quarter. CoreCap Advisors LLC now owns 13,112 shares of the cable giant’s stock valued at $492,000 after acquiring an additional 2,059 shares during the period. Ethic Inc. increased its stake in shares of Comcast by 59.3% in the 4th quarter. Ethic Inc. now owns 474,907 shares of the cable giant’s stock valued at $17,823,000 after purchasing an additional 176,786 shares in the last quarter. Ellevest Inc. increased its stake in shares of Comcast by 8.5% in the 4th quarter. Ellevest Inc. now owns 20,661 shares of the cable giant’s stock valued at $775,000 after purchasing an additional 1,619 shares in the last quarter. Finally, Focus Partners Wealth raised its holdings in Comcast by 65.5% in the 4th quarter. Focus Partners Wealth now owns 835,820 shares of the cable giant’s stock worth $31,558,000 after purchasing an additional 330,712 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Stock Down 0.1%

CMCSA stock opened at $33.91 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average of $34.03 and a two-hundred day moving average of $34.69. Comcast Corporation has a 12 month low of $31.03 and a 12 month high of $45.31. The company has a market cap of $125.20 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 2.03 and a beta of 0.93.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share (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 firm had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. During the same quarter in the prior year, the firm posted $1.21 earnings per share. Comcast’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a $0.33 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a yield of 3.9%. Comcast’s dividend payout ratio is currently 21.82%.

Wall Street Analyst Weigh In

CMCSA has been the subject of a number of recent analyst reports. Moffett Nathanson boosted their price objective on Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, June 12th. UBS Group cut their price target on shares of Comcast from $40.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, August 1st. Arete Research upgraded shares of Comcast to a “hold” rating in a research report on Tuesday, July 8th. Rosenblatt Securities lifted their target price on shares of Comcast from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, August 4th. Finally, Morgan Stanley reduced their price target on shares of Comcast from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.73.

Comcast Company Profile

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.