Cambiar Investors LLC Sells 162,889 Shares of Comcast Corporation $CMCSA

Key Points

• Cambiar Investors LLC reduced its stake in Comcast Corporation by 11.0%, selling 162,889 shares, which now represents 2.1% of their portfolio valued at approximately $48.8 million.
• Comcast recently reported a quarterly earnings per share of $1.25, exceeding analyst expectations, with revenues totaling $30.31 billion, which is a 2.1% year-over-year increase.
• The company announced a quarterly dividend of $0.33 per share, translating to an annualized amount of $1.32 and a dividend yield of 3.9%.

Cambiar Investors LLC lessened its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 11.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,322,318 shares of the cable giant's stock after selling 162,889 shares during the quarter. Comcast accounts for approximately 2.1% of Cambiar Investors LLC's holdings, making the stock its 14th biggest holding. Cambiar Investors LLC's holdings in Comcast were worth $48,794,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Steward Partners Investment Advisory LLC increased its holdings in Comcast by 1.2% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 632,498 shares of the cable giant's stock valued at $23,339,000 after buying an additional 7,490 shares during the period. Raymond James Financial Inc. grew its holdings in shares of Comcast by 2.2% in the 1st quarter. Raymond James Financial Inc. now owns 20,243,358 shares of the cable giant's stock worth $746,980,000 after purchasing an additional 427,705 shares during the last quarter. Forvis Mazars Wealth Advisors LLC grew its holdings in shares of Comcast by 5.7% in the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 21,555 shares of the cable giant's stock worth $795,000 after purchasing an additional 1,153 shares during the last quarter. Gen Wealth Partners Inc grew its holdings in shares of Comcast by 28.1% in the 1st quarter. Gen Wealth Partners Inc now owns 26,226 shares of the cable giant's stock worth $968,000 after purchasing an additional 5,749 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Comcast by 14.7% during the 1st quarter. American Century Companies Inc. now owns 4,739,416 shares of the cable giant's stock worth $174,884,000 after acquiring an additional 608,202 shares during the last quarter. Institutional investors own 84.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CMCSA shares. Evercore ISI decreased their price objective on shares of Comcast from $44.00 to $40.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. cut their target price on shares of Comcast from $39.00 to $37.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Citigroup cut their target price on shares of Comcast from $44.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Arete Research upgraded shares of Comcast to a "hold" rating in a research report on Tuesday, July 8th. Finally, Benchmark reiterated a "buy" rating on shares of Comcast in a research report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Comcast has a consensus rating of "Hold" and an average target price of $40.73.

Comcast Stock Up 1.1%

NASDAQ CMCSA traded up $0.3750 during trading hours on Friday, reaching $33.9750. 9,993,900 shares of the company's stock were exchanged, compared to its average volume of 24,179,125. The company has a market capitalization of $125.44 billion, a price-to-earnings ratio of 5.62, a price-to-earnings-growth ratio of 1.99 and a beta of 0.92. Comcast Corporation has a one year low of $31.03 and a one year high of $45.31. The company's 50-day moving average is $34.23 and its two-hundred day moving average is $34.76. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. The company had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The business's quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the business earned $1.21 EPS. On average, analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is currently 21.82%.

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.