Cardinal Capital Management Inc. Sells 638,095 Shares of Comcast Corporation $CMCSA

Key Points

• Cardinal Capital Management Inc. significantly reduced its stake in Comcast Corporation by 93.8%, owning just 42,520 shares after selling 638,095 shares during the second quarter.
• In contrast, other investors like Nuveen LLC and Dodge & Cox increased their positions in Comcast, reflecting diverse investment strategies among major stakeholders.
• Comcast announced a $0.33 quarterly dividend, yielding 4.2%, with the ex-dividend date set for October 1st.

Cardinal Capital Management Inc. lowered its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 93.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,520 shares of the cable giant's stock after selling 638,095 shares during the quarter. Cardinal Capital Management Inc.'s holdings in Comcast were worth $1,518,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Deane Retirement Strategies Inc. lifted its position in shares of Comcast by 3.3% in the 2nd quarter. Deane Retirement Strategies Inc. now owns 82,616 shares of the cable giant's stock worth $2,947,000 after acquiring an additional 2,642 shares during the period. Farther Finance Advisors LLC boosted its stake in Comcast by 9.0% during the second quarter. Farther Finance Advisors LLC now owns 62,540 shares of the cable giant's stock worth $2,232,000 after buying an additional 5,140 shares in the last quarter. Busey Bank boosted its stake in Comcast by 13.7% during the second quarter. Busey Bank now owns 13,041 shares of the cable giant's stock worth $465,000 after buying an additional 1,576 shares in the last quarter. CX Institutional boosted its stake in Comcast by 8.2% during the second quarter. CX Institutional now owns 171,725 shares of the cable giant's stock worth $6,129,000 after buying an additional 13,006 shares in the last quarter. Finally, Wright Investors Service Inc. boosted its stake in Comcast by 12.4% during the second quarter. Wright Investors Service Inc. now owns 103,382 shares of the cable giant's stock worth $3,690,000 after buying an additional 11,378 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CMCSA. Morgan Stanley lowered their target price on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Monday, August 4th. Rosenblatt Securities lifted their price objective on Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Scotiabank lifted their price objective on Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. Benchmark reissued a "buy" rating on shares of Comcast in a report on Friday, July 18th. Finally, Moffett Nathanson boosted their price target on shares of Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, Comcast presently has a consensus rating of "Hold" and an average price target of $40.22.

Comcast Stock Down 0.3%

NASDAQ CMCSA traded down $0.10 on Monday, reaching $31.49. The company had a trading volume of 36,351,866 shares, compared to its average volume of 24,244,691. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $116.27 billion, a price-to-earnings ratio of 5.20, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93. Comcast Corporation has a 1-year low of $31.03 and a 1-year high of $45.31. The company's fifty day moving average is $33.45 and its 200-day moving average is $34.46.

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

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be paid a $0.33 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 4.2%. Comcast's dividend payout ratio is currently 21.82%.

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.