Comcast Corporation $CMCSA Shares Sold by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC reduced its stake in Comcast by 7.7%, now holding 449,882 shares valued at approximately $16.6 million.
• Comcast reported a quarterly profit with earnings per share of $1.25, exceeding expectations, and revenue of $30.31 billion, up 2.1% year-over-year.
• The company announced a quarterly dividend of $0.33 per share, representing a yield of 3.9% and a payout ratio of 21.82%.

NewEdge Advisors LLC lowered its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 7.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 449,882 shares of the cable giant's stock after selling 37,519 shares during the quarter. NewEdge Advisors LLC's holdings in Comcast were worth $16,601,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Inlight Wealth Management LLC bought a new stake in shares of Comcast in the 1st quarter valued at approximately $26,000. Abound Financial LLC bought a new stake in shares of Comcast in the 1st quarter valued at approximately $29,000. Retirement Wealth Solutions LLC lifted its stake in shares of Comcast by 126.9% during the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after acquiring an additional 448 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new stake in shares of Comcast during the fourth quarter worth $33,000. Finally, Global Wealth Strategies & Associates lifted its position in shares of Comcast by 203.4% during the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock worth $33,000 after purchasing an additional 600 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CMCSA shares. Royal Bank Of Canada started coverage on Comcast in a research report on Monday. They set a "sector perform" rating and a $38.00 target price for the company. Barclays decreased their target price on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Morgan Stanley decreased their target price on Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a research report on Monday, August 4th. Scotiabank lifted their target price on Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Finally, Arete Research raised Comcast to a "hold" rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $40.63.

Comcast Stock Performance

Comcast stock traded down $0.33 during mid-day trading on Tuesday, reaching $33.67. 17,133,810 shares of the company were exchanged, compared to its average volume of 19,936,898. Comcast Corporation has a twelve month low of $31.03 and a twelve month high of $45.31. The firm's 50-day simple moving average is $34.00 and its two-hundred day simple moving average is $34.65. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $124.32 billion, a PE ratio of 5.57, a price-to-earnings-growth ratio of 2.04 and a beta of 0.93.

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

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders 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 3.9%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio is 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.