Klingenstein Fields & Co. LP Decreases Stock Holdings in Comcast Corporation (NASDAQ:CMCSA)

Klingenstein Fields & Co. LP lowered its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 19.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,527 shares of the cable giant’s stock after selling 58,864 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Comcast were worth $8,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arbor Trust Wealth Advisors LLC increased its position in shares of Comcast by 7.4% during the first quarter. Arbor Trust Wealth Advisors LLC now owns 25,128 shares of the cable giant’s stock worth $927,000 after purchasing an additional 1,725 shares in the last quarter. Rossby Financial LCC acquired a new stake in shares of Comcast in the 1st quarter worth $223,000. DAVENPORT & Co LLC grew its stake in Comcast by 41.7% during the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant’s stock worth $157,766,000 after buying an additional 1,261,278 shares during the last quarter. Summit Trail Advisors LLC increased its position in Comcast by 2.3% during the 1st quarter. Summit Trail Advisors LLC now owns 67,459 shares of the cable giant’s stock valued at $2,489,000 after buying an additional 1,544 shares in the last quarter. Finally, Clear Creek Financial Management LLC raised its stake in Comcast by 55.7% in the first quarter. Clear Creek Financial Management LLC now owns 20,449 shares of the cable giant’s stock valued at $755,000 after buying an additional 7,318 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Up 1.8%

Shares of NASDAQ CMCSA opened at $36.33 on Wednesday. The stock’s fifty day moving average is $34.69 and its 200 day moving average is $35.56. The stock has a market capitalization of $135.65 billion, a P/E ratio of 8.93, a PEG ratio of 1.73 and a beta of 0.95. 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 Corporation has a 52 week low of $31.44 and a 52 week high of $45.31.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The business had revenue of $29.89 billion for the quarter, compared to analyst estimates of $29.82 billion. During the same quarter in the prior year, the company earned $1.04 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Sell-side analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be paid a $0.33 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $1.32 annualized dividend and a yield of 3.63%. Comcast’s payout ratio is 32.43%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CMCSA shares. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $36.00 price target on shares of Comcast in a report on Monday, April 28th. Barclays reduced their target price on Comcast from $37.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. Wells Fargo & Company downgraded Comcast from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $37.00 to $31.00 in a research note on Monday, April 14th. UBS Group set a $44.50 price objective on shares of Comcast in a report on Friday, April 25th. Finally, Oppenheimer decreased their target price on Comcast from $55.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.10.

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.