Comcast Corporation $CMCSA Shares Sold by Smith Chas P & Associates PA Cpas

Key Points

• Smith Chas P & Associates PA Cpas cut its Comcast stake by 99.0% in Q3, selling 736,533 shares and leaving just 7,081 shares worth about $222,000.
• CEO Michael J. Cavanagh sold 57,947 shares at an average price of $32.66 for roughly $1.89 million, reducing his holding by about 8.52%.
• Comcast beat EPS estimates with $0.84 versus $0.75, reported $32.31 billion in revenue, and declared a quarterly dividend of $0.33 (annualized yield ~4.1%; ex-dividend April 1).

Smith Chas P & Associates PA Cpas lowered its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 99.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,081 shares of the cable giant's stock after selling 736,533 shares during the quarter. Smith Chas P & Associates PA Cpas' holdings in Comcast were worth $222,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CMCSA. Brighton Jones LLC boosted its position in shares of Comcast by 150.9% during the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock worth $6,240,000 after purchasing an additional 99,986 shares during the period. Voya Financial Advisors Inc. lifted its stake in Comcast by 3.2% during the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant's stock worth $2,963,000 after purchasing an additional 2,593 shares in the last quarter. United Bank boosted its position in shares of Comcast by 11.3% during the second quarter. United Bank now owns 42,216 shares of the cable giant's stock worth $1,507,000 after buying an additional 4,290 shares during the period. Cassaday & Co Wealth Management LLC grew its stake in shares of Comcast by 5.2% in the second quarter. Cassaday & Co Wealth Management LLC now owns 14,974 shares of the cable giant's stock valued at $534,000 after buying an additional 735 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. grew its stake in shares of Comcast by 5.6% in the second quarter. Asahi Life Asset Management CO. LTD. now owns 16,880 shares of the cable giant's stock valued at $602,000 after buying an additional 890 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CMCSA. TD Cowen lowered their target price on Comcast from $40.00 to $39.00 and set a "buy" rating for the company in a report on Friday, January 30th. Sanford C. Bernstein reduced their price target on shares of Comcast from $34.00 to $32.00 and set a "market perform" rating on the stock in a research report on Thursday, January 15th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Comcast from $40.00 to $35.00 and set a "buy" rating for the company in a report on Friday, January 30th. Rosenblatt Securities reiterated a "neutral" rating and set a $30.00 target price on shares of Comcast in a report on Friday, January 30th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Comcast in a research report on Friday, January 9th. Ten investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, Comcast has a consensus rating of "Hold" and a consensus price target of $34.87.

Insider Activity

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following the transaction, the chief executive officer owned 622,336 shares in the company, valued at approximately $20,325,493.76. This represents a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.32% of the company's stock.

Comcast Stock Up 3.5%

Shares of Comcast stock opened at $32.09 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $37.97. The company has a market capitalization of $115.46 billion, a P/E ratio of 5.98, a P/E/G ratio of 2.42 and a beta of 0.79. The company has a 50 day moving average of $29.97 and a 200 day moving average of $29.99.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.09. The company had revenue of $32.31 billion for the quarter, compared to the consensus estimate of $32.35 billion. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The company's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 EPS. As a group, research analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 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 4.1%. The ex-dividend date of this dividend is Wednesday, April 1st. Comcast's payout ratio is 24.58%.

Comcast Company Profile

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

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