Yacktman Asset Management LP Sells 167,500 Shares of Comcast Co. (NASDAQ:CMCSA)

Yacktman Asset Management LP lessened its position in Comcast Co. (NASDAQ:CMCSA) by 11.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,253,500 shares of the cable giant’s stock after selling 167,500 shares during the period. Yacktman Asset Management LP’s holdings in Comcast were worth $52,359,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Fairscale Capital LLC bought a new stake in shares of Comcast during the second quarter worth approximately $26,000. Strategic Financial Concepts LLC bought a new stake in Comcast in the 2nd quarter valued at $27,000. IAG Wealth Partners LLC lifted its holdings in shares of Comcast by 204.7% during the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after buying an additional 522 shares in the last quarter. McClarren Financial Advisors Inc. increased its position 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 acquiring an additional 570 shares during the period. Finally, Archer Investment Corp raised its stake in 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 owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CMCSA shares. Macquarie reiterated a “neutral” rating and issued a $40.00 price target on shares of Comcast in a research report on Friday. StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. KeyCorp raised their price target on Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday. Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Comcast in a research report on Wednesday, July 24th. Finally, Pivotal Research boosted their target price on shares of Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.75.

Comcast Stock Down 2.4 %

NASDAQ:CMCSA opened at $42.53 on Tuesday. The company has a market cap of $164.70 billion, a PE ratio of 11.43, a P/E/G ratio of 1.14 and a beta of 1.00. The firm’s 50 day simple moving average is $40.85 and its 200 day simple moving average is $39.60. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. Comcast Co. has a one year low of $36.43 and a one year 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, beating analysts’ consensus estimates of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The firm had revenue of $32.07 billion for the quarter, compared to analyst estimates of $31.78 billion. During the same quarter in the previous year, the company posted $1.08 EPS. The business’s revenue was up 6.5% on a year-over-year basis. On average, research analysts anticipate that Comcast Co. will post 4.27 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s dividend payout ratio is presently 33.33%.

Comcast 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.