Procyon Advisors LLC Sells 130,876 Shares of Comcast Corporation $CMCSA

Key Points

• Procyon Advisors LLC reduced its holdings in Comcast Corporation by 77.0%, selling a total of 130,876 shares and leaving them with 39,007 shares valued at $1,392,000.
• Comcast's recent quarterly earnings exceeded expectations, reporting $1.25 EPS and $30.31 billion in revenue, reflecting a year-over-year growth of 2.1%.
• The company announced a quarterly dividend of $0.33 per share, which will yield about 4.1%, payable on October 22nd.

Procyon Advisors LLC lessened its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 77.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,007 shares of the cable giant's stock after selling 130,876 shares during the quarter. Procyon Advisors LLC's holdings in Comcast were worth $1,392,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CMCSA. Sculati Wealth Management LLC lifted its stake in shares of Comcast by 0.9% in the 4th quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant's stock valued at $1,156,000 after acquiring an additional 285 shares during the last quarter. Toth Financial Advisory Corp lifted its stake in shares of Comcast by 9.0% in the 1st quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant's stock valued at $134,000 after acquiring an additional 300 shares during the last quarter. Clearstead Trust LLC lifted its stake in shares of Comcast by 5.2% in the 1st quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant's stock valued at $227,000 after acquiring an additional 305 shares during the last quarter. Webster Bank N. A. lifted its stake in shares of Comcast by 2.9% in the 2nd quarter. Webster Bank N. A. now owns 10,809 shares of the cable giant's stock valued at $386,000 after acquiring an additional 305 shares during the last quarter. Finally, United Asset Strategies Inc. lifted its stake in shares of Comcast by 2.2% in the 1st quarter. United Asset Strategies Inc. now owns 14,075 shares of the cable giant's stock valued at $519,000 after acquiring an additional 308 shares during the last quarter. Institutional investors own 84.32% of the company's stock.

Comcast Stock Down 0.2%

Shares of CMCSA traded down $0.05 during trading hours on Friday, hitting $31.59. The stock had a trading volume of 53,783,241 shares, compared to its average volume of 20,704,542. 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 firm has a 50 day simple moving average of $33.45 and a 200-day simple moving average of $34.47. The firm has a market capitalization of $116.64 billion, a P/E ratio of 5.22, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93. Comcast Corporation has a 1-year low of $31.03 and a 1-year high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating 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 quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.21 EPS. Sell-side analysts predict that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. Comcast's payout ratio is 21.82%.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of a number of research reports. Scotiabank increased their price target on Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Benchmark reiterated a "buy" rating on shares of Comcast in a research note on Friday, July 18th. UBS Group lowered their target price on Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday, August 1st. Barclays lowered 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. Finally, Citigroup reaffirmed a "buy" rating on shares of Comcast in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Comcast presently has a consensus rating of "Hold" and an average target price of $40.56.

Comcast Company 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.