Novare Capital Management LLC Sells 166,820 Shares of Comcast Co. (NASDAQ:CMCSA)

Novare Capital Management LLC trimmed its holdings in Comcast Co. (NASDAQ:CMCSA) by 41.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,437 shares of the cable giant’s stock after selling 166,820 shares during the quarter. Novare Capital Management LLC’s holdings in Comcast were worth $9,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of CMCSA. Scarborough Advisors LLC purchased a new position in shares of Comcast in the 4th quarter worth about $62,000. Pineridge Advisors LLC purchased a new position in Comcast in the fourth quarter worth about $32,000. Richardson Financial Services Inc. bought a new position in shares of Comcast in the fourth quarter worth approximately $67,000. Twin Focus Capital Partners LLC purchased a new stake in shares of Comcast during the fourth quarter valued at approximately $276,000. Finally, SageView Advisory Group LLC increased its position in shares of Comcast by 144.8% during the fourth quarter. SageView Advisory Group LLC now owns 50,441 shares of the cable giant’s stock valued at $2,353,000 after acquiring an additional 29,835 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

NASDAQ CMCSA traded up $0.16 during trading hours on Monday, reaching $41.42. The company’s stock had a trading volume of 2,167,920 shares, compared to its average volume of 19,645,961. Comcast Co. has a 1 year low of $36.43 and a 1 year high of $47.11. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $162.52 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 1.10 and a beta of 1.01. The firm’s 50-day moving average price is $39.99 and its 200-day moving average price is $39.45.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. The business had revenue of $29.69 billion for the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.13 EPS. On average, equities research analysts predict that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed 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 2.99%. Comcast’s dividend payout ratio (DPR) is currently 32.80%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Seaport Res Ptn cut Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 24th. KeyCorp decreased their price objective on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. Pivotal Research cut their target price on shares of Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group assumed coverage on Comcast in a research note on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $45.55.

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.