Comcast Co. (NASDAQ:CMCSA) Position Cut by Gyroscope Capital Management Group LLC

Gyroscope Capital Management Group LLC lessened its position in shares of Comcast Co. (NASDAQ:CMCSA) by 7.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 136,771 shares of the cable giant’s stock after selling 10,525 shares during the quarter. Comcast comprises 2.9% of Gyroscope Capital Management Group LLC’s investment portfolio, making the stock its 5th biggest holding. Gyroscope Capital Management Group LLC’s holdings in Comcast were worth $6,327,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Rockbridge Investment Management LCC purchased a new position in Comcast during the 2nd quarter worth approximately $29,000. Asset Advisors Investment Management LLC acquired a new stake in Comcast during the 2nd quarter worth approximately $32,000. Evolution Wealth Advisors LLC lifted its position in Comcast by 68.5% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 841 shares of the cable giant’s stock worth $33,000 after acquiring an additional 342 shares during the period. Financial Management Professionals Inc. acquired a new stake in Comcast during the 2nd quarter worth approximately $33,000. Finally, Campbell Wealth Management acquired a new stake in Comcast during the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 82.80% of the company’s stock.

Shares of CMCSA stock opened at $45.56 on Friday. The stock has a fifty day moving average price of $45.21 and a 200 day moving average price of $41.02. The stock has a market cap of $208.12 billion, a PE ratio of 18.30, a P/E/G ratio of 1.91 and a beta of 0.93. Comcast Co. has a 1 year low of $31.70 and a 1 year high of $47.74. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.97 and a current ratio of 0.97.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, July 30th. The cable giant reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.14. The firm had revenue of $23.72 billion during the quarter, compared to analysts’ expectations of $23.56 billion. Comcast had a return on equity of 16.66% and a net margin of 10.91%. Comcast’s revenue was down 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. As a group, equities research analysts predict that Comcast Co. will post 2.47 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.02%. The ex-dividend date is Tuesday, October 6th. Comcast’s payout ratio is 29.39%.

A number of research firms have weighed in on CMCSA. Sanford C. Bernstein raised Comcast from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $48.00 to $52.00 in a research report on Wednesday, July 1st. Benchmark increased their price objective on Comcast from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, September 22nd. They noted that the move was a valuation call. Wells Fargo & Company increased their price objective on Comcast from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Morgan Stanley increased their price objective on Comcast from $49.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, ValuEngine raised Comcast from a “sell” rating to a “hold” rating in a report on Wednesday, September 9th. Nine investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Comcast presently has an average rating of “Buy” and an average target price of $50.18.

In other Comcast news, CEO Jeff Shell sold 99,484 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $42.91, for a total transaction of $4,268,858.44. Company insiders own 1.35% of the company’s stock.

Comcast Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, wireless, and security and automation services to residential and business customers under the Xfinity brand; and advertising services.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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