Comcast Corporation $CMCSA Position Reduced by Atwater Malick LLC

Key Points

• Atwater Malick LLC has reduced its position in Comcast Corporation by 40%, now owning 29,639 shares with a value of approximately $1,058,000.
• Comcast recently reported quarterly earnings of $1.25 per share, exceeding expectations of $1.18, with revenues reaching $30.31 billion.
• The company declared a quarterly dividend of $0.33 per share, representing a 4.3% yield, with the ex-dividend date set for October 1st.

Atwater Malick LLC decreased its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 40.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,639 shares of the cable giant's stock after selling 19,774 shares during the period. Atwater Malick LLC's holdings in Comcast were worth $1,058,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMCSA. Inlight Wealth Management LLC bought a new stake in Comcast during the first quarter worth approximately $26,000. Cranbrook Wealth Management LLC raised its holdings in Comcast by 86.0% during the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock worth $27,000 after purchasing an additional 350 shares in the last quarter. Global Trust Asset Management LLC raised its holdings in Comcast by 906.8% during the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant's stock worth $27,000 after purchasing an additional 671 shares in the last quarter. Abound Financial LLC bought a new stake in Comcast during the first quarter worth approximately $29,000. Finally, Ransom Advisory Ltd bought a new stake in Comcast during the first quarter worth approximately $29,000. Institutional investors own 84.32% of the company's stock.

Comcast Trading Down 1.7%

NASDAQ CMCSA opened at $30.40 on Friday. Comcast Corporation has a twelve month low of $30.38 and a twelve month high of $45.31. 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 stock has a market cap of $112.24 billion, a price-to-earnings ratio of 5.02, a PEG ratio of 1.81 and a beta of 0.94. The firm's 50 day moving average price is $32.79 and its two-hundred day moving average price is $34.20.

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 for the quarter, topping the consensus estimate of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm had revenue of $30.31 billion for the quarter, compared to analysts' expectations of $29.81 billion. During the same period in the previous year, the company posted $1.21 EPS. The company's quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Wednesday, October 1st. Comcast's payout ratio is currently 21.82%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Barclays decreased their price target on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Moffett Nathanson lifted their price target on shares of Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Rosenblatt Securities lifted their price target on shares of Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. Scotiabank lifted their price target on shares of Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Finally, The Goldman Sachs Group decreased their price target on shares of Comcast from $40.00 to $39.00 and set a "buy" rating on the stock in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $40.07.

About Comcast

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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