Comcast Corporation $CMCSA Shares Sold by Patten & Patten Inc. TN

Key Points

• Patten & Patten Inc. TN reduced its holdings in Comcast Corporation by 43.5% in the second quarter, now owning 27,474 shares worth approximately $981,000.
• Comcast recently announced a quarterly dividend of $0.33 per share, representing an annualized dividend yield of 4.5%.
• As of now, 84.32% of Comcast's stock is owned by institutional investors and hedge funds, reflecting significant institutional interest in the company.

Patten & Patten Inc. TN reduced its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 43.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,474 shares of the cable giant's stock after selling 21,194 shares during the quarter. Patten & Patten Inc. TN's holdings in Comcast were worth $981,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CMCSA. Inlight Wealth Management LLC acquired a new position in Comcast in the first quarter valued at $26,000. Cranbrook Wealth Management LLC increased 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 purchasing an additional 350 shares during the last quarter. Global Trust Asset Management LLC increased its stake in 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 purchasing an additional 671 shares during the last quarter. Abound Financial LLC acquired a new position in Comcast in the first quarter valued at $29,000. Finally, Ransom Advisory Ltd acquired a new position in Comcast in the first quarter valued at $29,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $29.26 on Friday. Comcast Corporation has a 1-year low of $29.15 and a 1-year high of $45.31. The business has a 50-day moving average of $32.27 and a 200-day moving average of $33.74. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $108.03 billion, a price-to-earnings ratio of 4.84, a PEG ratio of 1.76 and a beta of 0.94.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued 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 company had revenue of $30.34 billion during the quarter. On average, equities analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.5%. Comcast's dividend payout ratio is presently 21.82%.

Analyst Ratings Changes

CMCSA has been the subject of several analyst reports. Barclays dropped their target price on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. Weiss Ratings restated a "hold (c-)" rating on shares of Comcast in a research note on Tuesday. KeyCorp dropped their price target on Comcast from $45.00 to $43.00 and set an "overweight" rating for the company in a research note on Friday, October 3rd. Scotiabank restated a "sector perform" rating and set a $45.50 price target (up from $45.00) on shares of Comcast in a research note on Monday, October 6th. Finally, The Goldman Sachs Group dropped their price target on Comcast from $40.00 to $39.00 and set a "buy" rating for the company in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $39.94.

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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