Comcast Corporation $CMCSA Shares Sold by Laffer Tengler Investments Inc.

Key Points

• Laffer Tengler Investments Inc. reduced its holdings in Comcast Corporation by 48.6%, selling 12,574 shares in the first quarter, now owning a total of 13,276 shares valued at approximately $490,000.
• Comcast's recent earnings report revealed $1.25 earnings per share, exceeding expectations, with total revenue of $30.31 billion for the quarter, marking a 2.1% year-over-year increase.
• The company announced a quarterly dividend of $0.33 per share, resulting in an annual yield of 3.9%, with the ex-dividend date set for October 1st.

Laffer Tengler Investments Inc. lessened its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 48.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,276 shares of the cable giant's stock after selling 12,574 shares during the period. Laffer Tengler Investments Inc.'s holdings in Comcast were worth $490,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Ameriprise Financial Inc. lifted its stake in shares of Comcast by 12.0% in the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock valued at $1,890,027,000 after purchasing an additional 5,402,377 shares during the period. Northern Trust Corp grew its position in Comcast by 12.8% during the fourth quarter. Northern Trust Corp now owns 42,479,501 shares of the cable giant's stock worth $1,594,256,000 after buying an additional 4,819,443 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Comcast by 16.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,356,027 shares of the cable giant's stock valued at $1,326,912,000 after buying an additional 4,991,891 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Comcast by 2.8% during the 1st 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 period. Finally, Nuveen Asset Management LLC boosted its stake in shares of Comcast by 1.9% during the 4th quarter. Nuveen Asset Management LLC now owns 26,055,944 shares of the cable giant's stock worth $977,880,000 after acquiring an additional 497,829 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Rothschild & Co Redburn decreased their price objective on shares of Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Benchmark restated a "buy" rating on shares of Comcast in a research report on Friday, July 18th. Bernstein Bank lowered their target price on Comcast from $38.00 to $37.00 and set a "market perform" rating on the stock in a report on Friday, April 25th. Moffett Nathanson raised their price target on Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Finally, Morgan Stanley reduced their price objective on Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $40.73.

Comcast Price Performance

CMCSA stock opened at $33.60 on Friday. The stock has a market capitalization of $124.06 billion, a price-to-earnings ratio of 5.55, a price-to-earnings-growth ratio of 1.99 and a beta of 0.92. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a 52-week low of $31.03 and a 52-week high of $45.31. The stock's fifty day simple moving average is $34.23 and its 200-day simple moving average is $34.76.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share 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 the consensus estimate of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. Comcast's revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 earnings per share. Equities research analysts expect that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio is 21.82%.

About Comcast

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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