Meyer Handelman Co. Lowers Stock Position in Comcast Co. (NASDAQ:CMCSA)

Meyer Handelman Co. cut its position in shares of Comcast Co. (NASDAQ:CMCSA) by 5.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,746 shares of the cable giant’s stock after selling 1,104 shares during the quarter. Meyer Handelman Co.’s holdings in Comcast were worth $867,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Steph & Co. increased its stake in shares of Comcast by 154.6% during the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after purchasing an additional 371 shares during the last quarter. Fairscale Capital LLC bought a new stake in shares of Comcast in the second quarter valued at $26,000. Strategic Financial Concepts LLC purchased a new position in shares of Comcast during the 2nd quarter valued at $27,000. IAG Wealth Partners LLC increased its holdings in Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after acquiring an additional 522 shares during the last quarter. Finally, Pineridge Advisors LLC bought a new stake in Comcast in the 4th quarter valued at about $32,000. 84.32% of the stock is owned by institutional investors.

Comcast Stock Performance

Comcast stock opened at $41.26 on Friday. The firm has a fifty day simple moving average of $39.99 and a two-hundred day simple moving average of $39.48. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.11. The company has a market capitalization of $161.89 billion, a PE ratio of 10.92, a P/E/G ratio of 1.10 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share 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 analysts’ expectations of $30.02 billion. During the same period in the prior year, the business posted $1.13 EPS. Comcast’s quarterly revenue was down 2.7% compared to the same quarter last year. Research analysts expect that Comcast Co. will post 4.23 EPS for the current year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 3.01%. Comcast’s dividend payout ratio is currently 32.80%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CMCSA. Pivotal Research reduced their target price on shares of Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. The Goldman Sachs Group began coverage on shares of Comcast in a report on Tuesday, June 25th. They set a “buy” rating and a $44.00 target price on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Comcast in a report on Wednesday, July 24th. StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. Finally, Seaport Res Ptn lowered Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Comcast presently has a consensus rating of “Hold” and a consensus price target of $45.55.

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.