Comcast Co. (NASDAQ:CMCSA) Shares Sold by Onyx Bridge Wealth Group LLC

Onyx Bridge Wealth Group LLC trimmed its stake in Comcast Co. (NASDAQ:CMCSA) by 33.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,058 shares of the cable giant’s stock after selling 3,041 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Comcast were worth $237,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new position in Comcast in the fourth quarter valued at $2,542,988,000. Capital World Investors increased its stake in Comcast by 17.0% in the fourth quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock valued at $4,725,926,000 after purchasing an additional 15,625,543 shares during the last quarter. Ontario Teachers Pension Plan Board increased its stake in Comcast by 25,881.7% in the first quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock valued at $470,391,000 after purchasing an additional 10,809,231 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Comcast by 41.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock valued at $1,214,512,000 after purchasing an additional 8,243,302 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Comcast by 80.9% in the first quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock valued at $457,007,000 after purchasing an additional 4,714,586 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Scotiabank cut their price objective on Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a research note on Friday, April 26th. Citigroup dropped their price target on Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Benchmark reiterated a “buy” rating and set a $55.00 price target on shares of Comcast in a research report on Monday, May 13th. The Goldman Sachs Group initiated coverage on Comcast in a research report on Tuesday, June 25th. They set a “buy” rating and a $44.00 price target on the stock. Finally, Pivotal Research decreased their price objective on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $45.78.

Comcast Price Performance

Shares of CMCSA traded down $0.09 on Wednesday, hitting $39.94. The company’s stock had a trading volume of 11,878,131 shares, compared to its average volume of 20,197,244. The company has a market capitalization of $156.71 billion, a PE ratio of 10.59, a PEG 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 fifty-two week low of $36.43 and a fifty-two week high of $47.30. The company has a 50 day moving average price of $38.78 and a 200 day moving average price of $40.06.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. The company had revenue of $29.69 billion during 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 revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 EPS. On average, research analysts anticipate that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Wednesday, October 2nd. Comcast’s dividend payout ratio is currently 32.80%.

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.