Redwood Investments LLC Lowers Stake in Comcast Co. (NASDAQ:CMCSA)

Redwood Investments LLC reduced its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 15.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 343,298 shares of the cable giant’s stock after selling 61,258 shares during the period. Redwood Investments LLC’s holdings in Comcast were worth $14,515,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Archford Capital Strategies LLC grew its stake in shares of Comcast by 6.2% in the second quarter. Archford Capital Strategies LLC now owns 4,134 shares of the cable giant’s stock worth $175,000 after acquiring an additional 240 shares during the period. SevenBridge Financial Group LLC grew its stake in shares of Comcast by 0.6% in the second quarter. SevenBridge Financial Group LLC now owns 41,429 shares of the cable giant’s stock worth $1,752,000 after acquiring an additional 249 shares during the period. Camarda Financial Advisors LLC grew its stake in shares of Comcast by 8.1% in the first quarter. Camarda Financial Advisors LLC now owns 3,331 shares of the cable giant’s stock worth $133,000 after acquiring an additional 250 shares during the period. Mechanics Bank Trust Department grew its stake in shares of Comcast by 1.8% in the second quarter. Mechanics Bank Trust Department now owns 13,918 shares of the cable giant’s stock worth $588,000 after acquiring an additional 252 shares during the period. Finally, Alpha Omega Wealth Management LLC grew its stake in shares of Comcast by 3.5% in the first quarter. Alpha Omega Wealth Management LLC now owns 7,631 shares of the cable giant’s stock worth $305,000 after acquiring an additional 255 shares during the period. 82.61% of the stock is owned by institutional investors.

In related news, SVP Daniel C. Murdock sold 1,701 shares of Comcast stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $41.46, for a total value of $70,523.46. Following the sale, the senior vice president now owns 4,712 shares of the company’s stock, valued at approximately $195,359.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.35% of the stock is owned by company insiders.

Several analysts recently issued reports on CMCSA shares. Rosenblatt Securities began coverage on shares of Comcast in a research report on Friday, June 14th. They set a “buy” rating and a $50.00 target price for the company. BidaskClub cut shares of Comcast from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. KeyCorp upped their price target on shares of Comcast from $43.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Guggenheim upgraded shares of 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. Finally, Macquarie initiated coverage on shares of Comcast in a report on Wednesday, June 19th. They set a “buy” rating and a $50.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $45.44.

CMCSA traded down $0.61 during trading on Wednesday, reaching $41.46. 1,548,608 shares of the company’s stock were exchanged, compared to its average volume of 16,904,566. Comcast Co. has a 1 year low of $32.61 and a 1 year high of $45.29. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $186.44 billion, a PE ratio of 16.24, a P/E/G ratio of 1.17 and a beta of 1.08. The stock has a fifty day moving average of $43.50.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, July 25th. The cable giant reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. The business had revenue of $26.86 billion for the quarter, compared to analysts’ expectations of $27.08 billion. Comcast had a net margin of 11.64% and a return on equity of 17.50%. The business’s revenue was up 23.6% on a year-over-year basis. During the same quarter last year, the company earned $0.65 EPS. As a group, analysts predict that Comcast Co. will post 3.07 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 3rd were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, July 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.03%. Comcast’s payout ratio is 32.94%.

About Comcast

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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