Mount Lucas Management LP Sells 429 Shares of Comcast Co. (NASDAQ:CMCSA)

Mount Lucas Management LP lowered its stake in Comcast Co. (NASDAQ:CMCSA) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,523 shares of the cable giant’s stock after selling 429 shares during the period. Mount Lucas Management LP’s holdings in Comcast were worth $1,900,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CMCSA. Towercrest Capital Management boosted its holdings in shares of Comcast by 43.9% during the 2nd quarter. Towercrest Capital Management now owns 6,960 shares of the cable giant’s stock valued at $273,000 after buying an additional 2,123 shares in the last quarter. Paralel Advisors LLC boosted its holdings in shares of Comcast by 4.4% during the 2nd quarter. Paralel Advisors LLC now owns 52,656 shares of the cable giant’s stock valued at $2,062,000 after buying an additional 2,210 shares in the last quarter. Insight 2811 Inc. boosted its holdings in shares of Comcast by 19.7% during the 2nd quarter. Insight 2811 Inc. now owns 6,646 shares of the cable giant’s stock valued at $260,000 after buying an additional 1,096 shares in the last quarter. Hudson Edge Investment Partners Inc. boosted its holdings in shares of Comcast by 16.1% during the 2nd quarter. Hudson Edge Investment Partners Inc. now owns 152,171 shares of the cable giant’s stock valued at $5,959,000 after buying an additional 21,058 shares in the last quarter. Finally, Koss Olinger Consulting LLC bought a new stake in shares of Comcast during the 2nd quarter valued at $2,464,000. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

Comcast stock traded down $0.19 during midday trading on Friday, hitting $39.61. The stock had a trading volume of 18,549,208 shares, compared to its average volume of 19,988,055. The firm’s fifty day moving average is $39.24 and its two-hundred day moving average is $39.83. The company has a market capitalization of $155.41 billion, a PE ratio of 10.48, a P/E/G ratio of 1.05 and a beta of 1.01. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16.

Comcast (NASDAQ:CMCSA) last released its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The company had revenue of $29.69 billion during the quarter, compared to analyst estimates of $30.02 billion. During the same period in the prior year, the firm posted $1.13 EPS. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, research analysts forecast that Comcast Co. will post 4.23 EPS for the current year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.13%. Comcast’s dividend payout ratio is currently 32.80%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CMCSA shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Evercore ISI dropped their price target on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Pivotal Research dropped their price target on shares of Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. The Goldman Sachs Group started coverage on shares of Comcast in a research note on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price target on the stock. Finally, StockNews.com upgraded shares of Comcast from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $45.78.

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.