Comcast Corporation $CMCSA Shares Sold by Mitchell Sinkler & Starr PA

Key Points

• Mitchell Sinkler & Starr PA drastically reduced its stake in Comcast Corporation by 94.5% during the 2nd quarter, leaving it with only 5,712 shares.
• Comcast announced a quarterly dividend of $0.33 per share, representing a 4.5% yield, to be paid on October 22nd.
• Research analysts have a mixed outlook on Comcast, with one analyst issuing a Strong Buy rating, while the average price target is set at $39.94.

Mitchell Sinkler & Starr PA reduced its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 94.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,712 shares of the cable giant's stock after selling 97,557 shares during the period. Mitchell Sinkler & Starr PA's holdings in Comcast were worth $204,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Foster Group Inc. lifted its stake in shares of Comcast by 4.0% during the second quarter. Foster Group Inc. now owns 7,418 shares of the cable giant's stock worth $265,000 after buying an additional 282 shares during the period. Argyle Capital Management LLC lifted its stake in shares of Comcast by 0.5% during the second quarter. Argyle Capital Management LLC now owns 61,186 shares of the cable giant's stock worth $2,184,000 after buying an additional 300 shares during the period. Clearstead Trust LLC lifted its stake in shares of Comcast by 5.2% during the first quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant's stock worth $227,000 after buying an additional 305 shares during the period. Webster Bank N. A. lifted its stake in shares of Comcast by 2.9% during the second quarter. Webster Bank N. A. now owns 10,809 shares of the cable giant's stock worth $386,000 after buying an additional 305 shares during the period. Finally, United Asset Strategies Inc. lifted its stake in shares of Comcast by 2.2% during the first quarter. United Asset Strategies Inc. now owns 14,075 shares of the cable giant's stock worth $519,000 after buying an additional 308 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CMCSA shares. Citigroup reissued a "buy" rating on shares of Comcast in a report on Tuesday, August 26th. The Goldman Sachs Group reduced their target price on shares of Comcast from $40.00 to $39.00 and set a "buy" rating for the company in a report on Wednesday, September 24th. Benchmark reissued a "buy" rating on shares of Comcast in a report on Friday, July 18th. Scotiabank reissued a "sector perform" rating and set a $45.50 target price (up previously from $45.00) on shares of Comcast in a report on Monday, October 6th. Finally, Morgan Stanley set a $35.00 target price on shares of Comcast and gave the stock an "equal weight" rating in a report on Tuesday. One research 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 given a Sell rating to the company's stock. Based on data from MarketBeat.com, Comcast has an average rating of "Hold" and an average price target of $39.94.

Comcast Stock Performance

NASDAQ CMCSA opened at $29.46 on Friday. The company has a market cap of $108.77 billion, a PE ratio of 4.87, a price-to-earnings-growth ratio of 1.74 and a beta of 0.94. The stock's 50 day simple moving average is $32.48 and its 200-day simple moving average is $33.93. Comcast Corporation has a 1-year low of $29.42 and a 1-year high of $45.31. 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 released its earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The business had revenue of $30.34 billion for the quarter. As a group, equities research analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The firm 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 dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio is currently 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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