Comcast Corporation $CMCSA Shares Sold by First Long Island Investors LLC

Key Points

• First Long Island Investors LLC significantly reduced its stake in Comcast Corporation by 76.1%, now holding 13,510 shares worth approximately $499,000.
• Comcast reported a Q2 earnings per share (EPS) of $1.25, exceeding expectations, with revenues of $30.31 billion, up 2.1% year-over-year.
• The company authorized a quarterly dividend of $0.33 per share, reflecting a 4.0% yield for investors, with a payout ratio of 21.82%.

First Long Island Investors LLC cut its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 76.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,510 shares of the cable giant's stock after selling 43,011 shares during the quarter. First Long Island Investors LLC's holdings in Comcast were worth $499,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Sculati Wealth Management LLC increased its stake in shares of Comcast by 0.9% in the 4th 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 last quarter. Toth Financial Advisory Corp increased its stake in shares of Comcast by 9.0% in the 1st quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant's stock worth $134,000 after acquiring an additional 300 shares during the last quarter. Clearstead Trust LLC increased its stake in shares of Comcast by 5.2% in the 1st quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant's stock worth $227,000 after acquiring an additional 305 shares during the last quarter. United Asset Strategies Inc. increased its position in shares of Comcast by 2.2% during the 1st quarter. United Asset Strategies Inc. now owns 14,075 shares of the cable giant's stock worth $519,000 after purchasing an additional 308 shares during the last quarter. Finally, Moors & Cabot Inc. increased its position in shares of Comcast by 0.6% during the 1st quarter. Moors & Cabot Inc. now owns 54,163 shares of the cable giant's stock worth $1,999,000 after purchasing an additional 310 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Stock Performance

Shares of Comcast stock opened at $33.40 on Friday. The business has a 50-day moving average of $33.85 and a 200 day moving average of $34.62. Comcast Corporation has a 12 month low of $31.03 and a 12 month high of $45.31. The stock has a market capitalization of $123.32 billion, a price-to-earnings ratio of 5.52, a price-to-earnings-growth ratio of 2.01 and a beta of 0.93. 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 (NASDAQ:CMCSA - Get Free Report) last announced its earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The company had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. During the same period last year, the business posted $1.21 EPS. Comcast's revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The company 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 dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is 21.82%.

Wall Street Analyst Weigh In

CMCSA has been the subject of a number of recent analyst reports. Sanford C. Bernstein cut their price objective on Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a research report on Wednesday. Royal Bank Of Canada initiated coverage on Comcast in a research report on Monday. They set a "sector perform" rating and a $38.00 price objective for the company. Rosenblatt Securities raised their price objective on Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. Rothschild & Co Redburn cut their price objective on Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Finally, Moffett Nathanson raised their price objective on Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Comcast has a consensus rating of "Hold" and an average target price of $40.56.

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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