Ancora Advisors LLC Has $307,000 Holdings in Comcast Corporation $CMCSA

Key Points

• Ancora Advisors cut its Comcast stake by 78% in the second quarter, selling 44,476 shares and retaining 12,524 shares valued at approximately $307,000.
• Comcast reported quarterly EPS of $1.04 and revenue of $29.94 billion, both exceeding analyst expectations, though revenue declined 1.2% year over year.
• The company declared a quarterly dividend of $0.33, equivalent to an annualized $1.32 payout and a roughly 5.0% yield; analysts maintain a consensus “Hold” rating with a $32.96 price target.

Ancora Advisors LLC trimmed its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 78.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,524 shares of the cable giant's stock after selling 44,476 shares during the quarter. Ancora Advisors LLC's holdings in Comcast were worth $307,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC lifted its position in Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock worth $6,240,000 after purchasing an additional 99,986 shares during the period. Voya Financial Advisors Inc. increased its stake in Comcast by 3.2% in the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant's stock valued at $2,963,000 after acquiring an additional 2,593 shares during the period. United Bank raised its position in Comcast by 11.3% in the second quarter. United Bank now owns 42,216 shares of the cable giant's stock worth $1,507,000 after purchasing an additional 4,290 shares in the last quarter. HUB Investment Partners LLC raised its position in Comcast by 119.4% in the second quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant's stock worth $606,000 after purchasing an additional 9,236 shares in the last quarter. Finally, Diversify Advisory Services LLC lifted its stake in Comcast by 66.8% during the second quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant's stock worth $1,414,000 after purchasing an additional 15,865 shares during the period. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Stock Performance

NASDAQ:CMCSA opened at $26.65 on Friday. The stock has a market capitalization of $94.57 billion, a P/E ratio of 8.62, a price-to-earnings-growth ratio of 1.91 and a beta of 0.68. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. Comcast Corporation has a 1 year low of $21.28 and a 1 year high of $34.45. The firm has a 50 day moving average of $24.79 and a 200-day moving average of $26.49.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.07. The business had revenue of $29.94 billion for the quarter, compared to analyst estimates of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%.Comcast's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.25 EPS. As a group, sell-side analysts anticipate that Comcast Corporation will post 3.52 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast's payout ratio is currently 42.72%.

Analyst Ratings Changes

CMCSA has been the topic of a number of recent research reports. Citigroup decreased their price objective on Comcast from $35.50 to $32.00 and set a "buy" rating on the stock in a report on Monday, June 29th. Moffett Nathanson cut their target price on Comcast from $53.00 to $52.00 and set a "buy" rating for the company in a research report on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft raised Comcast from a "hold" rating to a "buy" rating and decreased their price target for the company from $34.00 to $32.00 in a research note on Tuesday, June 30th. Seaport Research Partners upgraded Comcast from a "neutral" rating to a "buy" rating in a research report on Thursday, July 2nd. Finally, Scotiabank set a $29.00 price objective on Comcast in a research note on Friday, July 24th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $32.96.

Comcast Profile

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

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