Brighton Jones LLC Cuts Stock Position in Comcast Co. (NASDAQ:CMCSA)

Brighton Jones LLC cut its holdings in Comcast Co. (NASDAQ:CMCSA) by 32.8% in the first quarter, HoldingsChannel reports. The firm owned 111,716 shares of the cable giant’s stock after selling 54,549 shares during the quarter. Brighton Jones LLC’s holdings in Comcast were worth $4,122,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC raised its stake in shares of Comcast by 233.9% in the first quarter. Exchange Traded Concepts LLC now owns 817,669 shares of the cable giant’s stock valued at $30,172,000 after acquiring an additional 572,770 shares during the period. Cornell Pochily Investment Advisors Inc. purchased a new position in Comcast during the 1st quarter valued at about $211,000. Sound Income Strategies LLC increased its position in Comcast by 66.6% during the 1st quarter. Sound Income Strategies LLC now owns 5,671 shares of the cable giant’s stock valued at $209,000 after purchasing an additional 2,267 shares during the period. Foster Victor Wealth Advisors LLC increased its position in Comcast by 12.9% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 261,062 shares of the cable giant’s stock valued at $8,803,000 after purchasing an additional 29,758 shares during the period. Finally, Dynamic Advisor Solutions LLC boosted its holdings in shares of Comcast by 74.3% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 51,932 shares of the cable giant’s stock valued at $1,916,000 after buying an additional 22,135 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Trading Down 0.7%

Shares of CMCSA opened at $35.01 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09. Comcast Co. has a 12-month low of $31.44 and a 12-month high of $45.31. The firm has a 50-day moving average price of $34.46 and a 200 day moving average price of $36.11. The firm has a market capitalization of $130.72 billion, a P/E ratio of 8.44, a P/E/G ratio of 1.78 and a beta of 0.95.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. The firm had revenue of $29.89 billion during the quarter, compared to analyst estimates of $29.82 billion. During the same quarter in the prior year, the firm posted $1.04 earnings per share. Comcast’s quarterly revenue was down .6% on a year-over-year basis. Sell-side analysts forecast that Comcast Co. will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be issued a $0.33 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $1.32 annualized dividend and a dividend yield of 3.77%. Comcast’s dividend payout ratio is currently 32.43%.

Analysts Set New Price Targets

CMCSA has been the subject of a number of recent analyst reports. Scotiabank reiterated a “sector perform” rating and issued a $44.50 target price (down from $45.00) on shares of Comcast in a research note on Friday, April 25th. Rosenblatt Securities reiterated a “neutral” rating and issued a $36.00 target price on shares of Comcast in a research note on Monday, April 28th. Citigroup decreased their target price on shares of Comcast from $44.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, April 25th. BNP Paribas lowered shares of Comcast from a “neutral” rating to an “underperform” rating and set a $31.00 price target for the company. in a report on Thursday, April 10th. Finally, Oppenheimer cut their price target on shares of Comcast from $55.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Comcast presently has an average rating of “Moderate Buy” and an average target price of $42.10.

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.