Central Pacific Bank Trust Division Reduces Stock Holdings in Comcast Corporation $CMCSA

Key Points

• Central Pacific Bank Trust Division reduced its stake in Comcast Corporation by 27%, selling 23,542 shares and holding 63,706 shares valued at approximately $2.27 million.
• Comcast reported a quarterly earnings per share (EPS) of $1.25, beating expectations by $0.07, with revenue of $30.31 billion for the quarter.
• The company announced a quarterly dividend of $0.33 per share, which translates to an annualized yield of 4.0%.

Central Pacific Bank Trust Division reduced its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 27.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,706 shares of the cable giant's stock after selling 23,542 shares during the period. Central Pacific Bank Trust Division's holdings in Comcast were worth $2,274,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CMCSA. Inlight Wealth Management LLC purchased a new position in Comcast in the first quarter valued at approximately $26,000. Abound Financial LLC acquired a new stake in shares of Comcast in the first quarter valued at approximately $29,000. Ransom Advisory Ltd acquired a new stake in shares of Comcast in the first quarter valued at approximately $29,000. Retirement Wealth Solutions LLC boosted its holdings in shares of Comcast by 126.9% in 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 during the period. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Comcast in the fourth quarter valued at approximately $33,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Price Performance

Shares of CMCSA opened at $33.06 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The stock's 50 day moving average is $33.79 and its two-hundred day moving average is $34.60. Comcast Corporation has a twelve month low of $31.03 and a twelve month high of $45.31. The firm has a market capitalization of $122.06 billion, a PE ratio of 5.46, a P/E/G ratio of 2.00 and a beta of 0.93.

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

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.0%. Comcast's dividend payout ratio (DPR) is 21.82%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Arete Research raised Comcast to a "hold" rating in a report on Tuesday, July 8th. Citigroup reissued a "buy" rating on shares of Comcast in a report on Tuesday, August 26th. Barclays decreased their price objective on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Scotiabank increased 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. Finally, Morgan Stanley decreased their price objective on Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Comcast has a consensus rating of "Hold" and an average price target of $40.56.

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.

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