Boyar Asset Management Inc. Sells 6,147 Shares of Comcast Corporation (NASDAQ:CMCSA)

Boyar Asset Management Inc. cut its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 6.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,132 shares of the cable giant’s stock after selling 6,147 shares during the period. Comcast makes up 2.4% of Boyar Asset Management Inc.’s holdings, making the stock its 10th biggest holding. Boyar Asset Management Inc.’s holdings in Comcast were worth $3,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in CMCSA. Norges Bank purchased a new stake in shares of Comcast in the 4th quarter valued at $3,835,226,000. Raymond James Financial Inc. acquired a new position in Comcast in the 4th quarter valued at about $743,681,000. Amundi increased its stake in Comcast by 147.9% during the fourth quarter. Amundi now owns 24,086,671 shares of the cable giant’s stock worth $895,499,000 after purchasing an additional 14,369,056 shares during the period. Capital World Investors increased its stake in Comcast by 8.6% during the fourth quarter. Capital World Investors now owns 141,680,277 shares of the cable giant’s stock worth $5,317,167,000 after purchasing an additional 11,255,683 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Comcast by 12.0% during the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant’s stock worth $1,890,027,000 after purchasing an additional 5,402,377 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several recent research reports. Morgan Stanley set a $37.00 target price on shares of Comcast in a research note on Friday, April 25th. Barclays reduced their price objective on Comcast from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday, April 28th. Wells Fargo & Company cut Comcast from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $37.00 to $31.00 in a research note on Monday, April 14th. Citigroup reduced their price target on Comcast from $44.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Finally, UBS Group set a $44.50 price objective on Comcast in a research note on Friday, April 25th. Two equities 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $42.10.

Comcast Stock Down 1.1%

CMCSA opened at $34.84 on Thursday. 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. The stock has a market capitalization of $130.08 billion, a P/E ratio of 8.56, a price-to-earnings-growth ratio of 1.70 and a beta of 0.95. The business’s 50-day simple moving average is $34.55 and its 200-day simple moving average is $35.70.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The company had revenue of $29.89 billion during 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 firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.04 earnings per share. Analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.79%. The ex-dividend date is Wednesday, July 2nd. Comcast’s payout ratio is currently 32.43%.

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.