Comcast Co. (NASDAQ:CMCSA) Stake Lessened by Fortitude Family Office LLC

Fortitude Family Office LLC lowered its holdings in Comcast Co. (NASDAQ:CMCSA) by 36.0% in the first quarter, Holdings Channel.com reports. The firm owned 1,441 shares of the cable giant’s stock after selling 810 shares during the period. Fortitude Family Office LLC’s holdings in Comcast were worth $53,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Promus Capital LLC purchased a new stake in shares of Comcast in the fourth quarter valued at $25,000. Roxbury Financial LLC purchased a new stake in shares of Comcast during the fourth quarter worth $27,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Comcast during the fourth quarter worth $28,000. Retirement Wealth Solutions LLC raised its holdings in shares of Comcast by 126.9% during the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant’s stock worth $30,000 after acquiring an additional 448 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Comcast during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Trading Down 1.2%

NASDAQ:CMCSA opened at $35.18 on Thursday. Comcast Co. has a one year low of $31.44 and a one year high of $45.31. The company has a market cap of $131.35 billion, a PE ratio of 8.48, a PEG ratio of 1.78 and a beta of 0.95. The firm has a 50-day moving average of $34.38 and a 200-day moving average of $36.26. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.68.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. The company had revenue of $29.89 billion for the quarter, compared to analysts’ expectations of $29.82 billion. During the same period in the prior year, the company posted $1.04 EPS. Comcast’s revenue was down .6% compared to the same quarter last year. As a group, equities research analysts expect that Comcast Co. will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.75%. Comcast’s dividend payout ratio (DPR) is currently 32.43%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Scotiabank restated a “sector perform” rating and set a $44.50 target price (down from $45.00) on shares of Comcast in a report on Friday, April 25th. BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $31.00 target price on the stock. in a report on Thursday, April 10th. Argus lowered Comcast from a “buy” rating to a “hold” rating in a report on Tuesday, May 6th. Rosenblatt Securities restated a “neutral” rating and set a $36.00 target price on shares of Comcast in a report on Monday, April 28th. Finally, Wells Fargo & Company lowered Comcast from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $37.00 to $31.00 in a report on Monday, April 14th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.10.

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.