First Long Island Investors LLC Lowers Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

First Long Island Investors LLC lowered its position in shares of Comcast Co. (NASDAQ:CMCSA) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 435,827 shares of the cable giant’s stock after selling 2,095 shares during the period. Comcast accounts for about 1.4% of First Long Island Investors LLC’s holdings, making the stock its 29th biggest position. First Long Island Investors LLC’s holdings in Comcast were worth $18,204,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CMCSA. Fairscale Capital LLC bought a new position in shares of Comcast in the 2nd quarter worth $26,000. Strategic Financial Concepts LLC bought a new position in Comcast in the second quarter valued at $27,000. IAG Wealth Partners LLC raised its position in Comcast by 204.7% during the second 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 in the last quarter. McClarren Financial Advisors Inc. lifted its stake in Comcast by 365.4% during the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after purchasing an additional 570 shares during the last quarter. Finally, Archer Investment Corp boosted its holdings in shares of Comcast by 177.1% in the 2nd quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after purchasing an additional 519 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Trading Down 0.7 %

NASDAQ:CMCSA traded down $0.31 during midday trading on Friday, hitting $43.17. 3,023,182 shares of the company traded hands, compared to its average volume of 19,556,227. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14. The firm’s fifty day moving average is $41.54 and its 200-day moving average is $39.84. The firm has a market capitalization of $165.19 billion, a P/E ratio of 11.62, a P/E/G ratio of 1.66 and a beta of 1.00. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.11.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The firm had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. During the same period in the previous year, the company earned $1.08 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, sell-side analysts predict that Comcast Co. will post 4.25 EPS for the current year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a yield of 2.87%. Comcast’s payout ratio is 33.33%.

Analysts Set New Price Targets

Several brokerages recently commented on CMCSA. Pivotal Research lifted their target price on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. TD Cowen dropped their target price on shares of Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Barclays raised their price target on Comcast from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. Finally, KeyCorp boosted their target price on shares of Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.75.

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.