Cornercap Investment Counsel Inc. Lowers Position in Comcast Co. (NASDAQ:CMCSA)

by · The Markets Daily

Cornercap Investment Counsel Inc. trimmed its holdings in shares of Comcast Co. (NASDAQ:CMCSA – Free Report) by 30.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,201 shares of the cable giant’s stock after selling 24,437 shares during the quarter. Comcast comprises about 0.7% of Cornercap Investment Counsel Inc.’s investment portfolio, making the stock its 8th largest holding. Cornercap Investment Counsel Inc.’s holdings in Comcast were worth $2,348,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CMCSA. Koshinski Asset Management Inc. boosted its stake in Comcast by 0.8% in the third quarter. Koshinski Asset Management Inc. now owns 30,584 shares of the cable giant’s stock worth $1,277,000 after buying an additional 249 shares in the last quarter. Regent Peak Wealth Advisors LLC boosted its stake in Comcast by 3.1% in the third quarter. Regent Peak Wealth Advisors LLC now owns 8,445 shares of the cable giant’s stock worth $353,000 after buying an additional 257 shares in the last quarter. Abich Financial Wealth Management LLC boosted its stake in Comcast by 4.7% in the third quarter. Abich Financial Wealth Management LLC now owns 5,829 shares of the cable giant’s stock worth $243,000 after buying an additional 260 shares in the last quarter. Greenwich Wealth Management LLC boosted its stake in Comcast by 2.7% in the second quarter. Greenwich Wealth Management LLC now owns 9,754 shares of the cable giant’s stock worth $382,000 after buying an additional 261 shares in the last quarter. Finally, Saxon Interests Inc. boosted its stake in Comcast by 2.0% in the third quarter. Saxon Interests Inc. now owns 13,554 shares of the cable giant’s stock worth $566,000 after buying an additional 262 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Price Performance

Shares of CMCSA stock opened at $43.48 on Friday. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11. The stock’s 50-day moving average is $41.47 and its 200 day moving average is $39.82. The company has a market cap of $166.38 billion, a P/E ratio of 11.69, a PEG ratio of 1.66 and a beta of 1.00. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72.

Comcast (NASDAQ:CMCSA – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The company had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. During the same quarter last year, the company earned $1.08 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Research analysts predict that Comcast Co. will post 4.25 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s payout ratio is 33.33%.

Analyst Ratings Changes

CMCSA has been the subject of a number of analyst reports. Pivotal Research increased their price objective on Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Benchmark restated a “buy” rating and set a $55.00 target price on shares of Comcast in a report on Wednesday, October 30th. Rosenblatt Securities restated a “neutral” rating and set a $45.00 target price on shares of Comcast in a report on Wednesday, November 6th. StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. Finally, Scotiabank upgraded Comcast from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $47.75 to $48.00 in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Comcast has a consensus rating of “Moderate Buy” and an average target price of $46.75.

View Our Latest Stock Report on Comcast

Comcast Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Co. (NASDAQ:CMCSA – Free Report).