Comcast Corporation $CMCSA Shares Sold by Greenleaf Trust

Key Points

• Greenleaf Trust reduced its stake in Comcast by 13.8% during the second quarter, now holding 72,655 shares valued at approximately $2.59 million.
• Comcast's stock has shown a 52-week trading range between $31.03 and $45.31, with a recent price of $31.42.
• The company recently announced a $0.33 quarterly dividend, resulting in an annual yield of 4.2%, with a payout ratio of 21.82%.

Greenleaf Trust cut its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 13.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,655 shares of the cable giant's stock after selling 11,656 shares during the period. Greenleaf Trust's holdings in Comcast were worth $2,593,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Dodge & Cox increased its position in shares of Comcast by 19.1% during the first quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant's stock valued at $3,476,635,000 after acquiring an additional 15,115,074 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Comcast by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,636,264 shares of the cable giant's stock valued at $1,240,955,000 after acquiring an additional 926,663 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Comcast during the first quarter valued at about $940,015,000. Harris Associates L P increased its position in shares of Comcast by 0.5% during the first quarter. Harris Associates L P now owns 20,594,519 shares of the cable giant's stock valued at $759,938,000 after acquiring an additional 111,662 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of Comcast by 2.2% during the first quarter. Raymond James Financial Inc. now owns 20,243,358 shares of the cable giant's stock valued at $746,980,000 after acquiring an additional 427,705 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of a number of research 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. UBS Group dropped their price objective on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a report on Friday, August 1st. Royal Bank Of Canada initiated coverage on shares of Comcast in a report on Monday, September 8th. They issued a "sector perform" rating and a $38.00 price objective for the company. Morgan Stanley dropped their price objective on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, August 4th. Finally, Scotiabank lifted their price objective on shares of Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Comcast currently has an average rating of "Hold" and a consensus target price of $40.11.

Comcast Stock Down 0.2%

Shares of Comcast stock opened at $31.42 on Wednesday. Comcast Corporation has a 52-week low of $31.03 and a 52-week high of $45.31. The company has a 50 day moving average of $32.98 and a 200 day moving average of $34.26. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $116.01 billion, a P/E ratio of 5.19, a P/E/G ratio of 1.89 and a beta of 0.93.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results 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. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The firm's quarterly revenue was up 2.1% on a year-over-year basis. As a group, research analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be paid a $0.33 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. Comcast's payout ratio is currently 21.82%.

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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