Cerro Pacific Wealth Advisors LLC Sells 2,771 Shares of Comcast Corporation $CMCSA

Cerro Pacific Wealth Advisors LLC decreased its position in Comcast Corporation (NASDAQ:CMCSA) by 25.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,266 shares of the cable giant’s stock after selling 2,771 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Comcast were worth $295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. QRG Capital Management Inc. lifted its position in Comcast by 13.0% in the 2nd quarter. QRG Capital Management Inc. now owns 724,760 shares of the cable giant’s stock worth $25,867,000 after buying an additional 83,631 shares during the last quarter. Advisor OS LLC lifted its position in Comcast by 33.2% in the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock valued at $1,308,000 after purchasing an additional 8,841 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its position in Comcast by 10.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant’s stock valued at $47,254,000 after purchasing an additional 118,839 shares during the last quarter. OMNI 360 Wealth Inc. bought a new stake in Comcast in the first quarter valued at approximately $335,000. Finally, DAVENPORT & Co LLC lifted its position in Comcast by 41.7% in the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant’s stock valued at $157,766,000 after purchasing an additional 1,261,278 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CMCSA. Scotiabank reiterated a “sector perform” rating and issued a $45.50 price objective (up previously from $45.00) on shares of Comcast in a research report on Monday, October 6th. Benchmark reiterated a “buy” rating on shares of Comcast in a research report on Friday, July 18th. Morgan Stanley set a $35.00 price objective on Comcast and gave the company an “equal weight” rating in a research report on Tuesday. Loop Capital lowered their price objective on Comcast from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday, October 1st. Finally, Rosenblatt Securities boosted their price objective on Comcast from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $39.94.

Comcast Price Performance

CMCSA opened at $29.46 on Friday. The stock has a market capitalization of $108.77 billion, a PE ratio of 4.87, a price-to-earnings-growth ratio of 1.74 and a beta of 0.94. The stock’s 50 day moving average price is $32.48 and its 200-day moving average price is $33.93. Comcast Corporation has a 52-week low of $29.42 and a 52-week high of $45.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. The company had revenue of $30.34 billion for the quarter. Comcast had a return on equity of 18.86% and a net margin of 18.44%. On average, equities research analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

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

Comcast 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.