Carnegie Investment Counsel Sells 76,329 Shares of Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Carnegie Investment Counsel reduced its holdings in Comcast Corporation (NASDAQ: CMCSA) by 61.4%, selling 76,329 shares to end the first quarter with 47,940 shares worth approximately $1.61 million.
• Comcast's recent quarterly earnings showed $1.09 EPS, surpassing the expectations of $1.01 EPS, with revenue reported at $29.89 billion, a slight decline of 0.6% year-over-year.
• The company also announced a quarterly dividend of $0.33 per share, which translates to an annualized yield of 3.92%, and its current payout ratio stands at 32.43%.

Carnegie Investment Counsel cut its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 61.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,940 shares of the cable giant's stock after selling 76,329 shares during the period. Carnegie Investment Counsel's holdings in Comcast were worth $1,612,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Inlight Wealth Management LLC bought a new stake in shares of Comcast during the 1st quarter valued at $26,000. Abound Financial LLC purchased a new position in Comcast during the first quarter valued at $29,000. Retirement Wealth Solutions LLC grew its stake in Comcast by 126.9% during the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after acquiring an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new position in Comcast during the fourth quarter valued at $33,000. Finally, Global Wealth Strategies & Associates grew its stake in Comcast by 203.4% during the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after acquiring an additional 600 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Trading Down 4.8%

Shares of CMCSA opened at $33.68 on Friday. Comcast Corporation has a 1-year low of $31.44 and a 1-year high of $45.31. The company has a 50-day moving average of $35.01 and a 200 day moving average of $35.24. The firm has a market capitalization of $125.75 billion, a price-to-earnings ratio of 8.28, a PEG ratio of 1.72 and a beta of 0.95. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.08. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The company had revenue of $29.89 billion during the quarter, compared to analyst estimates of $29.82 billion. During the same quarter last year, the business posted $1.04 EPS. The firm's revenue for the quarter was down .6% on a year-over-year basis. On average, research analysts expect that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.92%. Comcast's payout ratio is 32.43%.

Wall Street Analyst Weigh In

CMCSA has been the subject of several research analyst reports. Bernstein Bank cut their target price on shares of Comcast from $38.00 to $37.00 and set a "market perform" rating for the company in a research note on Friday, April 25th. Wells Fargo & Company cut shares of Comcast from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $37.00 to $31.00 in a research note on Monday, April 14th. UBS Group set a $44.50 target price on shares of Comcast in a research note on Friday, April 25th. Rothschild & Co Redburn cut their target price on shares of Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Finally, Evercore ISI dropped their price objective on shares of Comcast from $44.00 to $40.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $41.13.

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.

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