Convergence Investment Partners LLC Has $3.54 Million Stake in Comcast Co. (NASDAQ:CMCSA)

Convergence Investment Partners LLC trimmed its position in Comcast Co. (NASDAQ:CMCSA) by 21.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,676 shares of the cable giant’s stock after selling 23,208 shares during the quarter. Convergence Investment Partners LLC’s holdings in Comcast were worth $3,538,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Archford Capital Strategies LLC grew its holdings in shares of Comcast by 6.2% during the second quarter. Archford Capital Strategies LLC now owns 4,134 shares of the cable giant’s stock worth $175,000 after purchasing an additional 240 shares during the last quarter. SevenBridge Financial Group LLC grew its holdings in shares of Comcast by 0.6% during the second quarter. SevenBridge Financial Group LLC now owns 41,429 shares of the cable giant’s stock worth $1,752,000 after purchasing an additional 249 shares during the last quarter. Camarda Financial Advisors LLC grew its holdings in shares of Comcast by 8.1% during the first quarter. Camarda Financial Advisors LLC now owns 3,331 shares of the cable giant’s stock worth $133,000 after purchasing an additional 250 shares during the last quarter. Mechanics Bank Trust Department grew its holdings in shares of Comcast by 1.8% during the second quarter. Mechanics Bank Trust Department now owns 13,918 shares of the cable giant’s stock worth $588,000 after purchasing an additional 252 shares during the last quarter. Finally, Alpha Omega Wealth Management LLC grew its holdings in shares of Comcast by 3.5% during the first quarter. Alpha Omega Wealth Management LLC now owns 7,631 shares of the cable giant’s stock worth $305,000 after purchasing an additional 255 shares during the last quarter. Institutional investors and hedge funds own 82.58% of the company’s stock.

CMCSA has been the topic of several research analyst reports. Guggenheim upgraded Comcast from a “neutral” rating to a “buy” rating and set a $42.31 target price on the stock in a report on Thursday, May 30th. Goldman Sachs Group upgraded Comcast from a “neutral” rating to a “buy” rating and increased their target price for the stock from $44.00 to $54.00 in a report on Wednesday, July 10th. Morgan Stanley raised their price target on Comcast from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Pivotal Research reiterated a “buy” rating and issued a $54.00 price target on shares of Comcast in a report on Wednesday, June 26th. Finally, KeyCorp raised their price target on Comcast from $43.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $45.27.

CMCSA traded down $0.42 during midday trading on Friday, reaching $42.46. 236,824 shares of the company were exchanged, compared to its average volume of 15,066,739. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.30. Comcast Co. has a one year low of $32.61 and a one year high of $45.29. The firm has a market cap of $194.61 billion, a PE ratio of 16.67, a P/E/G ratio of 1.21 and a beta of 1.07. The company’s 50-day simple moving average is $43.50.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, July 25th. The cable giant reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.03. Comcast had a return on equity of 17.50% and a net margin of 11.64%. The firm had revenue of $26.86 billion for the quarter, compared to analysts’ expectations of $27.08 billion. During the same quarter last year, the business earned $0.65 earnings per share. The company’s revenue was up 23.6% compared to the same quarter last year. Equities analysts expect that Comcast Co. will post 3.06 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 3rd were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Tuesday, July 2nd. Comcast’s dividend payout ratio is currently 32.94%.

In other news, SVP Daniel C. Murdock sold 1,701 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $41.46, for a total transaction of $70,523.46. Following the sale, the senior vice president now owns 4,712 shares of the company’s stock, valued at $195,359.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.35% of the company’s stock.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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