Comcast Corporation $CMCSA Shares Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners LLC cut its Comcast stake by 96% in the third quarter, selling 589,366 shares and retaining 24,358 shares valued at approximately $530,000. Institutional investors collectively own 84.32% of Comcast.
• Comcast reported quarterly EPS of $1.04, beating estimates of $0.97, while revenue reached $29.94 billion but declined 1.2% year over year. The company declared a quarterly dividend of $0.33, representing a 6.0% annualized yield.
• Shares opened at $21.90, near their one-year low, and analysts maintain a consensus “Hold” rating with a $30.81 price target; ratings range from Buy to Sell.

Curated Wealth Partners LLC decreased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 96.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,358 shares of the cable giant's stock after selling 589,366 shares during the quarter. Curated Wealth Partners LLC's holdings in Comcast were worth $530,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Allied Private Wealth LLC acquired a new stake in shares of Comcast in the 2nd quarter valued at approximately $26,000. Whipplewood Advisors LLC raised its position in Comcast by 75.5% during the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock worth $27,000 after acquiring an additional 401 shares in the last quarter. Main Street Group LTD acquired a new stake in Comcast in the first quarter valued at $27,000. Thompson Investment Management Inc. acquired a new position in shares of Comcast during the 2nd quarter worth about $29,000. Finally, Provenance Wealth Advisors LLC bought a new stake in shares of Comcast in the 1st quarter valued at about $30,000. Institutional investors own 84.32% of the company's stock.

Comcast Stock Performance

CMCSA opened at $21.90 on Friday. The business has a fifty day simple moving average of $24.14 and a 200 day simple moving average of $24.84. The company has a market capitalization of $77.72 billion, a PE ratio of 7.09, a price-to-earnings-growth ratio of 1.56 and a beta of 0.68. Comcast Corporation has a 1 year low of $20.48 and a 1 year high of $32.85. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.07. The company had revenue of $29.94 billion during the quarter, compared to analysts' expectations of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. Comcast's quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 earnings per share. Research analysts expect that Comcast Corporation will post 3.49 EPS for the current year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 annualized dividend and a dividend yield of 6.0%. Comcast's dividend payout ratio (DPR) is presently 42.72%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Bank of America reiterated a "buy" rating and set a $35.00 price target (down from $37.00) on shares of Comcast in a report on Wednesday, September 16th. Weiss Ratings downgraded Comcast from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. UBS Group reiterated a "neutral" rating and set a $27.00 target price (down from $32.00) on shares of Comcast in a research note on Tuesday, September 15th. Rosenblatt Securities reaffirmed a "buy" rating and set a $31.00 price target on shares of Comcast in a report on Friday, July 24th. Finally, KeyCorp cut shares of Comcast from a "sector weight" rating to an "underweight" rating and set a $18.00 price objective for the company. in a research report on Thursday, September 24th. Eleven research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Comcast has a consensus rating of "Hold" and a consensus price target of $30.81.

About Comcast

Comcast Corporation NASDAQ: CMCSA is a global media and communications company headquartered in Philadelphia, Pennsylvania. Its businesses include broadband internet, wireless services, video, voice, and business connectivity services, primarily marketed under the Xfinity brand in the United States. Comcast also provides advertising and related technology services to businesses and media organizations.

Through NBCUniversal, Comcast operates national and local television networks, broadcast network NBC, Spanish-language network Telemundo, the Peacock streaming service, and a portfolio of film and television production businesses.

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