Westside Investment Management Inc. Sells 2,035 Shares of Comcast Co. (NASDAQ:CMCSA)

Westside Investment Management Inc. reduced its position in Comcast Co. (NASDAQ:CMCSA) by 25.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,994 shares of the cable giant’s stock after selling 2,035 shares during the quarter. Westside Investment Management Inc.’s holdings in Comcast were worth $260,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Comcast during the fourth quarter worth $2,542,988,000. Capital World Investors boosted its stake in Comcast by 17.0% during the fourth quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock worth $4,725,926,000 after acquiring an additional 15,625,543 shares in the last quarter. Morningstar Investment Services LLC lifted its stake in shares of Comcast by 116.8% in the fourth quarter. Morningstar Investment Services LLC now owns 5,145,838 shares of the cable giant’s stock valued at $227,034,000 after buying an additional 2,772,190 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Comcast by 215.7% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,622,246 shares of the cable giant’s stock valued at $158,835,000 after buying an additional 2,474,946 shares in the last quarter. Finally, Pathstone Holdings LLC bought a new position in shares of Comcast in the fourth quarter valued at $108,332,000. 84.32% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Corp Comcast sold 3,176,923 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total value of $10,134,384.37. Following the completion of the sale, the insider now owns 2,000,000 shares of the company’s stock, valued at approximately $6,380,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.26% of the company’s stock.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $38.05 on Thursday. The company has a 50 day moving average of $38.62 and a 200 day moving average of $41.28. The stock has a market cap of $149.29 billion, a P/E ratio of 10.07, a P/E/G ratio of 0.95 and a beta of 1.00. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.46. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.13.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The business had revenue of $30.06 billion during the quarter, compared to analysts’ expectations of $29.83 billion. During the same quarter in the previous year, the company earned $0.92 EPS. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Comcast Co. will post 4.22 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be paid a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 3.26%. Comcast’s dividend payout ratio is presently 32.80%.

Analysts Set New Price Targets

CMCSA has been the topic of a number of recent research reports. Oppenheimer reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Comcast in a research note on Wednesday, April 3rd. Benchmark reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Comcast in a research note on Monday, May 13th. Scotiabank dropped their price objective on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a research note on Friday, April 26th. Wells Fargo & Company dropped their price objective on shares of Comcast from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Finally, Seaport Res Ptn lowered shares of Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Comcast currently has an average rating of “Hold” and a consensus price target of $48.53.

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.