Chevy Chase Trust Holdings LLC Lowers Position in Comcast Corporation (NASDAQ:CMCSA)

Chevy Chase Trust Holdings LLC cut its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 1.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,994,860 shares of the cable giant’s stock after selling 25,475 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Comcast were worth $73,610,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of CMCSA. Promus Capital LLC purchased a new position in shares of Comcast in the fourth quarter valued at about $25,000. Inlight Wealth Management LLC purchased a new position in shares of Comcast in the first quarter valued at about $26,000. Retirement Wealth Solutions LLC lifted its position in shares of Comcast by 126.9% in the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new position in shares of Comcast in the fourth quarter valued at about $33,000. Finally, Global Wealth Strategies & Associates lifted its position in shares of Comcast by 203.4% in the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant’s stock valued at $33,000 after acquiring an additional 600 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Trading Up 0.2%

CMCSA opened at $34.59 on Tuesday. The stock has a market cap of $129.15 billion, a price-to-earnings ratio of 8.50, a P/E/G ratio of 1.69 and a beta of 0.95. The stock’s 50 day moving average price is $34.51 and its 200-day moving average price is $35.71. Comcast Corporation has a one year low of $31.44 and a one year high of $45.31. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The firm had revenue of $29.89 billion for the quarter, compared to analysts’ expectations of $29.82 billion. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.04 earnings per share. On average, equities analysts forecast 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, July 23rd. Investors of record on Wednesday, July 2nd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.82%. Comcast’s payout ratio is 32.43%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barclays lowered their price objective on Comcast from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. Wells Fargo & Company downgraded Comcast from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $37.00 to $31.00 in a research report on Monday, April 14th. UBS Group set a $44.50 target price on Comcast in a research report on Friday, April 25th. Scotiabank reiterated a “sector perform” rating and issued a $44.50 target price (down from $45.00) on shares of Comcast in a research report on Friday, April 25th. Finally, Wall Street Zen upgraded Comcast from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $42.10.

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.