Comcast Corporation $CMCSA Shares Sold by Canandaigua National Bank & Trust Co.

Key Points

• Canandaigua National Bank & Trust Co. reduced its stake in Comcast Corporation by 20.7% during the second quarter, owning 32,811 shares valued at approximately $1,171,000 after the sale.
• Comcast reported a strong quarterly earnings performance with earnings per share (EPS) of $1.25, exceeding analyst expectations, alongside a revenue of $30.31 billion for the quarter.
• The firm announced a quarterly dividend of $0.33 per share, representing an annualized dividend yield of 4.0%, with an ex-dividend date set for October 1st.

Canandaigua National Bank & Trust Co. lowered its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 20.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,811 shares of the cable giant's stock after selling 8,561 shares during the quarter. Canandaigua National Bank & Trust Co.'s holdings in Comcast were worth $1,171,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CMCSA. Sculati Wealth Management LLC boosted its holdings in shares of Comcast by 0.9% during the fourth quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant's stock worth $1,156,000 after acquiring an additional 285 shares during the period. Toth Financial Advisory Corp boosted its stake in shares of Comcast by 9.0% in the first quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant's stock valued at $134,000 after buying an additional 300 shares during the period. Clearstead Trust LLC boosted its stake in shares of Comcast by 5.2% in the first quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant's stock valued at $227,000 after buying an additional 305 shares during the period. United Asset Strategies Inc. boosted its stake in shares of Comcast by 2.2% in the first quarter. United Asset Strategies Inc. now owns 14,075 shares of the cable giant's stock valued at $519,000 after buying an additional 308 shares during the period. Finally, Moors & Cabot Inc. boosted its stake in shares of Comcast by 0.6% in the first quarter. Moors & Cabot Inc. now owns 54,163 shares of the cable giant's stock valued at $1,999,000 after buying an additional 310 shares during the period. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Price Performance

CMCSA stock opened at $32.62 on Tuesday. The stock has a market capitalization of $120.44 billion, a PE ratio of 5.39, a price-to-earnings-growth ratio of 1.98 and a beta of 0.93. The company's 50-day moving average is $33.73 and its 200-day moving average is $34.56. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. Comcast Corporation has a 1 year low of $31.03 and a 1 year high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The company had revenue of $30.31 billion for the quarter, compared to analysts' expectations of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The business's revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 EPS. Equities research analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently issued reports on CMCSA. Morgan Stanley cut their price target on Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a research note on Monday, August 4th. Sanford C. Bernstein cut their price target on Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a research note on Wednesday, September 10th. UBS Group cut their target price on Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. Rosenblatt Securities upped their target price on Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Monday, August 4th. Finally, Benchmark restated a "buy" rating on shares of Comcast in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Comcast currently has a consensus rating of "Hold" and an average target price of $40.56.

Comcast 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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