Comcast Corporation $CMCSA Shares Sold by Grimes & Company Inc.

Key Points

• Grimes & Company Inc. reduced its stake in Comcast Corporation by 8.3% during the second quarter, now holding 198,045 shares valued at approximately $7.07 million.
• Comcast reported $1.25 EPS for the last quarter, surpassing analyst expectations of $1.18 and showcasing a revenue increase of 2.1% year-over-year to $30.31 billion.
• The company announced a quarterly dividend of $0.33 per share, providing an annual yield of 4.3%, with the payout scheduled for October 22nd.

Grimes & Company Inc. reduced its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 8.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 198,045 shares of the cable giant's stock after selling 17,835 shares during the period. Grimes & Company Inc.'s holdings in Comcast were worth $7,068,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CMCSA. Inlight Wealth Management LLC acquired a new stake in shares of Comcast in the 1st quarter valued at about $26,000. Cranbrook Wealth Management LLC lifted its stake in Comcast by 86.0% in the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock valued at $27,000 after buying an additional 350 shares during the last quarter. Global Trust Asset Management LLC boosted its holdings in shares of Comcast by 906.8% in the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant's stock valued at $27,000 after acquiring an additional 671 shares during the period. Abound Financial LLC purchased a new position in shares of Comcast during the first quarter worth approximately $29,000. Finally, Ransom Advisory Ltd acquired a new position in shares of Comcast in the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $30.90 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. Comcast Corporation has a one year low of $30.38 and a one year high of $45.31. The firm has a market capitalization of $114.09 billion, a P/E ratio of 5.11, a PEG ratio of 1.81 and a beta of 0.94. The company's fifty day moving average is $32.73 and its two-hundred day moving average is $34.13.

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

Comcast Dividend Announcement

The company also recently disclosed 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. This represents a $1.32 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is presently 21.82%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Comcast in a research note on Saturday, September 27th. Citigroup reissued a "buy" rating on shares of Comcast in a report on Tuesday, August 26th. KeyCorp reduced their price objective on Comcast from $45.00 to $43.00 and set an "overweight" rating for the company in a research note on Friday. Royal Bank Of Canada started coverage on Comcast in a research report on Monday, September 8th. They set a "sector perform" rating and a $38.00 price objective for the company. Finally, Loop Capital dropped their target price on Comcast from $44.00 to $43.00 and set a "buy" rating on the stock in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $40.26.

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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