Comcast Corporation $CMCSA Shares Sold by Boston Common Asset Management LLC

Key Points

• Boston Common Asset Management LLC reduced its stake in Comcast Corporation by 7.1%, holding 211,510 shares after selling 16,154 shares, valued at approximately $7.55 million.
• Comcast's stock has risen by 1.6% recently, with a current price of $30.90, while the company reported second-quarter earnings exceeding expectations with $1.25 EPS and revenues of $30.31 billion.
• The company has announced a quarterly dividend of $0.33 per share, representing an annual yield of 4.3%, with a payout ratio of 21.82%.

Boston Common Asset Management LLC trimmed its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 7.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 211,510 shares of the cable giant's stock after selling 16,154 shares during the quarter. Boston Common Asset Management LLC's holdings in Comcast were worth $7,549,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Inlight Wealth Management LLC purchased a new stake in shares of Comcast during the first quarter worth about $26,000. Global Trust Asset Management LLC increased its position 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 acquiring an additional 671 shares during the last quarter. Cranbrook Wealth Management LLC increased its position 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 acquiring an additional 350 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Comcast during the first quarter worth about $29,000. Finally, Abound Financial LLC bought a new stake in Comcast in the first quarter valued at about $29,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Stock Up 1.6%

NASDAQ:CMCSA opened at $30.90 on Friday. The firm has a market capitalization of $114.09 billion, a PE ratio of 5.11, a price-to-earnings-growth ratio of 1.81 and a beta of 0.94. The stock has a 50 day moving average of $32.73 and a 200-day moving average of $34.15. Comcast Corporation has a 52 week low of $30.38 and a 52 week high of $45.31. 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 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. The company had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The business's revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.21 earnings per share. Analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders 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 annualized dividend and a dividend yield of 4.3%. Comcast's payout ratio is currently 21.82%.

Analyst Ratings Changes

Several analysts recently weighed in on CMCSA shares. Rothschild & Co Redburn lowered their price objective on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Loop Capital lowered their price objective on Comcast from $44.00 to $43.00 and set a "buy" rating for the company in a report on Wednesday. Bank of America lowered their price objective on Comcast from $38.00 to $36.00 and set a "neutral" rating for the company in a report on Monday, September 29th. The Goldman Sachs Group lowered their price objective on Comcast from $40.00 to $39.00 and set a "buy" rating for the company in a report on Wednesday, September 24th. Finally, Benchmark reissued a "buy" rating on shares of Comcast in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $40.26.

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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