Harbour Trust & Investment Management Co Sells 6,707 Shares of Comcast Co. (NASDAQ:CMCSA)

Harbour Trust & Investment Management Co cut its stake in Comcast Co. (NASDAQ:CMCSA) by 39.2% in the second quarter, Holdings Channel.com reports. The firm owned 10,400 shares of the cable giant’s stock after selling 6,707 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Comcast were worth $407,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Luken Investment Analytics LLC boosted its position in Comcast by 258.0% during the first quarter. Luken Investment Analytics LLC now owns 580 shares of the cable giant’s stock worth $25,000 after purchasing an additional 418 shares during the period. Steph & Co. increased its stake in Comcast by 154.6% in the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after acquiring an additional 371 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in Comcast in the fourth quarter valued at about $28,000. IAG Wealth Partners LLC lifted its stake in Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 522 shares during the last quarter. Finally, Pineridge Advisors LLC bought a new stake in Comcast during the 4th quarter worth $32,000. 84.32% of the stock is currently owned by institutional investors.

Comcast Price Performance

NASDAQ:CMCSA traded down $0.53 during trading hours on Thursday, hitting $39.41. The stock had a trading volume of 9,213,276 shares, compared to its average volume of 20,134,813. The company has a 50 day simple moving average of $38.82 and a two-hundred day simple moving average of $40.06. The firm has a market capitalization of $154.63 billion, a price-to-earnings ratio of 10.51, a P/E/G ratio of 1.07 and a beta of 1.00. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. Comcast Co. has a one year low of $36.43 and a one year high of $47.30.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The company had revenue of $29.69 billion during the quarter, compared to analyst estimates of $30.02 billion. During the same quarter last year, the company earned $1.13 earnings per share. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. Research analysts forecast that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a yield of 3.15%. Comcast’s payout ratio is presently 32.80%.

Analysts Set New Price Targets

Several analysts recently weighed in on CMCSA shares. Benchmark reissued a “buy” rating and issued a $55.00 price objective on shares of Comcast in a research note on Monday, May 13th. BNP Paribas downgraded shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target for the company. in a research note on Tuesday, June 11th. Barclays dropped their price objective on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. KeyCorp decreased their price target on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Finally, Seaport Res Ptn lowered Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $45.78.

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.