Strid Group LLC Has $843,000 Position in Comcast Corporation $CMCSA

Strid Group LLC lowered its position in Comcast Corporation (NASDAQ:CMCSA) by 73.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 23,848 shares of the cable giant’s stock after selling 65,700 shares during the period. Strid Group LLC’s holdings in Comcast were worth $843,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Dodge & Cox increased its holdings in Comcast by 19.1% in the first quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant’s stock worth $3,476,635,000 after buying an additional 15,115,074 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Comcast by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,636,264 shares of the cable giant’s stock valued at $1,240,955,000 after purchasing an additional 926,663 shares during the last quarter. Nuveen LLC bought a new position in shares of Comcast in the first quarter valued at approximately $940,015,000. Harris Associates L P raised its position in shares of Comcast by 0.5% in the first quarter. Harris Associates L P now owns 20,594,519 shares of the cable giant’s stock valued at $759,938,000 after purchasing an additional 111,662 shares during the period. Finally, Raymond James Financial Inc. raised its position in shares of Comcast by 2.2% in the first quarter. Raymond James Financial Inc. now owns 20,243,358 shares of the cable giant’s stock valued at $746,980,000 after purchasing an additional 427,705 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

CMCSA has been the topic of a number of recent analyst reports. Sanford C. Bernstein dropped their price target on shares of Comcast from $37.00 to $36.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 10th. Barclays dropped their price target on shares of Comcast from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, August 1st. Rosenblatt Securities lifted their price target on shares of Comcast from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, August 4th. Benchmark reissued a “buy” rating on shares of Comcast in a research report on Friday, July 18th. Finally, The Goldman Sachs Group dropped their price target on shares of Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $40.26.

Comcast Trading Up 1.6%

Shares of CMCSA stock opened at $30.90 on Friday. Comcast Corporation has a 1 year low of $30.38 and a 1 year high of $45.31. The firm’s fifty day simple moving average is $32.73 and its 200 day simple moving average is $34.15. The firm has a market capitalization of $114.09 billion, a P/E ratio of 5.11, a price-to-earnings-growth ratio of 1.81 and a beta of 0.94. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.07. The firm had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 EPS. As a group, sell-side analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s payout ratio is 21.82%.

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.