Blair William & Co. IL Sells 32,714 Shares of Comcast Corporation $CMCSA

Key Points

• Blair William & Co. IL cut its stake in Comcast by 13.8% in Q3, selling 32,714 shares and leaving the firm with 205,203 shares valued at about $6.45 million.
• CEO Michael J. Cavanagh sold 57,947 shares on Feb. 11 for roughly $1.89 million, reducing his ownership by 8.52% to 622,336 shares.
• Comcast announced a $0.33 quarterly dividend (annualized $1.32, ~4.2% yield), reported Q EPS of $0.84 beating estimates, and trades at a P/E of 5.79 with a consensus target near $34.87 (analyst rating: Hold).

Blair William & Co. IL lowered its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 13.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 205,203 shares of the cable giant's stock after selling 32,714 shares during the quarter. Blair William & Co. IL's holdings in Comcast were worth $6,447,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital A Wealth Management LLC lifted its stake in Comcast by 173.7% in the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant's stock valued at $25,000 after purchasing an additional 436 shares during the last quarter. Avalon Trust Co lifted its position in shares of Comcast by 433.3% during the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant's stock valued at $27,000 after buying an additional 624 shares during the last quarter. Howard Hughes Medical Institute purchased a new stake in Comcast in the 2nd quarter worth about $29,000. Newbridge Financial Services Group Inc. purchased a new stake in Comcast during the second quarter valued at about $31,000. Finally, Corsicana & Co. bought a new position in Comcast during the third quarter worth about $32,000. 84.32% of the stock is owned by institutional investors.

Insider Transactions at Comcast

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following the transaction, the chief executive officer owned 622,336 shares of the company's stock, valued at $20,325,493.76. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.26% of the company's stock.

Comcast Stock Up 0.1%

Shares of NASDAQ CMCSA opened at $31.07 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The business has a 50-day moving average of $30.10 and a 200-day moving average of $29.90. The firm has a market capitalization of $111.79 billion, a price-to-earnings ratio of 5.79, a PEG ratio of 2.42 and a beta of 0.79. Comcast Corporation has a 12 month low of $25.75 and a 12 month high of $37.72.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The business had revenue of $32.31 billion for the quarter, compared to the consensus estimate of $32.35 billion. During the same period last year, the firm posted $0.96 earnings per share. Comcast's quarterly revenue was up 1.2% on a year-over-year basis. Sell-side analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, April 1st. Comcast's payout ratio is currently 24.58%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CMCSA. Benchmark cut their price objective on shares of Comcast from $46.00 to $44.00 and set a "buy" rating for the company in a report on Monday, January 5th. Morgan Stanley decreased their price objective on Comcast from $32.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Wednesday, December 10th. Arete Research set a $23.00 target price on Comcast in a research note on Tuesday, January 6th. Weiss Ratings reissued a "hold (c-)" rating on shares of Comcast in a report on Friday, January 9th. Finally, UBS Group reduced their price objective on shares of Comcast from $36.00 to $32.00 and set a "neutral" rating for the company in a research note on Friday, January 30th. Ten research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $34.87.

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.

Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Corporation (NASDAQ:CMCSA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.