Comcast Corporation $CMCSA Shares Sold by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management LLC reduced its shareholding in Comcast by 8.7% during the second quarter, now owning 104,785 shares worth approximately $3.74 million.
• Recent analyst ratings for Comcast show a consensus of "Hold", with an average price target of $39.94.
• Comcast announced a quarterly dividend of $0.33 per share, representing an annual yield of 4.5%, to be paid on October 22.

Apollon Wealth Management LLC lessened its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 8.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,785 shares of the cable giant's stock after selling 10,001 shares during the period. Apollon Wealth Management LLC's holdings in Comcast were worth $3,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Inlight Wealth Management LLC purchased a new position in shares of Comcast during the first quarter worth $26,000. Cranbrook Wealth Management LLC raised its holdings in shares of 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 during the last quarter. Global Trust Asset Management LLC raised its holdings in shares of 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 during the last quarter. Abound Financial LLC purchased a new position in shares of Comcast during the first quarter worth $29,000. Finally, Ransom Advisory Ltd purchased a new position in shares of Comcast during the first quarter worth $29,000. Hedge funds and other institutional investors own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

CMCSA has been the subject of a number of recent analyst reports. Rosenblatt Securities lifted their price objective on shares of Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Benchmark reaffirmed a "buy" rating on shares of Comcast in a report on Friday, July 18th. Loop Capital cut their price objective on shares of Comcast from $44.00 to $43.00 and set a "buy" rating for the company in a report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Comcast from $46.00 to $44.00 and set a "buy" rating for the company in a report on Monday, October 6th. Finally, Citigroup reaffirmed a "buy" rating on shares of Comcast in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have assigned a Hold rating and three 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 an average price target of $39.94.

Comcast Stock Performance

CMCSA opened at $29.46 on Friday. The firm has a market capitalization of $108.77 billion, a PE ratio of 4.87, a PEG ratio of 1.74 and a beta of 0.94. Comcast Corporation has a twelve month low of $29.42 and a twelve month high of $45.31. The firm's 50-day moving average price is $32.48 and its 200 day moving average price is $33.93. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. The firm had revenue of $30.34 billion for the quarter. Comcast had a net margin of 18.44% and a return on equity of 18.86%. As a group, sell-side analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.5%. Comcast's payout ratio is presently 21.82%.

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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