Park Place Capital Corp Cuts Stake in Comcast Corporation $CMCSA

Park Place Capital Corp lowered its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 31.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,655 shares of the cable giant’s stock after selling 1,242 shares during the quarter. Park Place Capital Corp’s holdings in Comcast were worth $96,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. XML Financial LLC increased its holdings in shares of Comcast by 0.9% in the 2nd quarter. XML Financial LLC now owns 39,493 shares of the cable giant’s stock valued at $1,410,000 after purchasing an additional 345 shares in the last quarter. Capital Investment Advisors LLC increased its holdings in shares of Comcast by 47.8% in the 2nd quarter. Capital Investment Advisors LLC now owns 81,122 shares of the cable giant’s stock valued at $2,895,000 after purchasing an additional 26,236 shares in the last quarter. HB Wealth Management LLC increased its holdings in shares of Comcast by 5.6% in the 2nd quarter. HB Wealth Management LLC now owns 289,000 shares of the cable giant’s stock valued at $10,314,000 after purchasing an additional 15,310 shares in the last quarter. Janney Capital Management LLC increased its holdings in shares of Comcast by 1.7% in the 2nd quarter. Janney Capital Management LLC now owns 51,507 shares of the cable giant’s stock valued at $1,838,000 after purchasing an additional 858 shares in the last quarter. Finally, Smith Chas P & Associates PA Cpas increased its holdings in shares of Comcast by 6.1% in the 2nd quarter. Smith Chas P & Associates PA Cpas now owns 743,614 shares of the cable giant’s stock valued at $26,540,000 after purchasing an additional 42,998 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

Comcast stock opened at $31.42 on Wednesday. Comcast Corporation has a 12-month low of $31.03 and a 12-month high of $45.31. The stock has a market capitalization of $116.01 billion, a P/E ratio of 5.19, a P/E/G ratio of 1.89 and a beta of 0.93. The firm’s 50-day moving average is $32.98 and its two-hundred day moving average is $34.26. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company had revenue of $30.31 billion for the quarter, compared to analysts’ expectations of $29.81 billion. During the same period last year, the company earned $1.21 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. Comcast’s dividend payout ratio (DPR) is currently 21.82%.

Analysts Set New Price Targets

CMCSA has been the subject of a number of research analyst reports. Rosenblatt Securities increased their price target on shares of Comcast from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, August 4th. Bank of America lowered their price objective on shares of Comcast from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday. Citigroup reissued a “buy” rating on shares of Comcast in a research note on Tuesday, August 26th. Scotiabank increased their price objective on shares of Comcast from $44.50 to $45.00 and gave the company a “sector perform” rating in a research note on Friday, July 11th. Finally, Benchmark reissued a “buy” rating on shares of Comcast in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Comcast presently has an average rating of “Hold” and a consensus target price of $40.11.

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.