Comcast Corporation $CMCSA Holdings Decreased by Hennessy Advisors Inc.

Key Points

• Hennessy Advisors cut its Comcast stake by 32.4% in the third quarter, selling 98,258 shares and retaining 205,300 shares valued at approximately $4.47 million.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $29.17. Ratings include 10 Buys, 12 Holds and six Sells.
• Comcast exceeded quarterly earnings expectations, reporting $1.07 in adjusted EPS and $29.30 billion in revenue, while revenue declined 6.1% year over year. The company also declared a $0.33 quarterly dividend, representing a 5.5% annualized yield.

Hennessy Advisors Inc. trimmed its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 32.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 205,300 shares of the cable giant's stock after selling 98,258 shares during the quarter. Hennessy Advisors Inc.'s holdings in Comcast were worth $4,467,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CMCSA. Allied Private Wealth LLC acquired a new stake in shares of Comcast in the second quarter valued at approximately $26,000. Whipplewood Advisors LLC increased its holdings in shares of Comcast by 75.5% during the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock worth $27,000 after acquiring an additional 401 shares during the last quarter. Main Street Group LTD acquired a new position in shares of Comcast during the 1st quarter worth approximately $27,000. Laurel Wealth Advisors LLC bought a new stake in Comcast in the 3rd quarter valued at $27,000. Finally, Thompson Investment Management Inc. bought a new stake in Comcast in the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 84.32% of the company's stock.

Analyst Ratings Changes

CMCSA has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $23.00 price objective on shares of Comcast in a research report on Thursday, October 22nd. Weiss Ratings downgraded shares of Comcast from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, October 23rd. KeyCorp lowered shares of Comcast from a "sector weight" rating to an "underweight" rating and set a $18.00 price objective on the stock. in a research report on Thursday, September 24th. Bank of America restated a "buy" rating and set a $35.00 target price (down from $37.00) on shares of Comcast in a research note on Wednesday, September 16th. Finally, Freedom Broker reduced their target price on shares of Comcast from $29.00 to $25.00 and set a "hold" rating for the company in a report on Monday, October 26th. Ten research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $29.17.

Comcast Trading Up 2.8%

Shares of CMCSA stock opened at $23.87 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.91. The stock has a market cap of $84.71 billion, a P/E ratio of 7.55, a price-to-earnings-growth ratio of 1.52 and a beta of 0.68. The stock has a 50 day simple moving average of $23.34 and a 200 day simple moving average of $26.07. Comcast Corporation has a 1 year low of $20.48 and a 1 year high of $32.85.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The cable giant reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.08. The firm had revenue of $29.30 billion for the quarter, compared to analyst estimates of $29.22 billion. Comcast had a return on equity of 14.64% and a net margin of 9.20%. The company's revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the company earned $1.12 EPS. On average, research analysts predict that Comcast Corporation will post 3.54 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 27th. Shareholders of record on Wednesday, January 6th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Wednesday, January 6th. Comcast's dividend payout ratio is presently 41.77%.

Comcast Profile

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.

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