Comcast Corporation $CMCSA Shares Sold by Strid Group LLC

Key Points

• Strid Group LLC significantly reduced its stake in Comcast Corporation by 73.4% during the 2nd quarter, owning 23,848 shares after selling 65,700 shares.
• Comcast posted a $1.25 EPS for its last quarter, exceeding analyst expectations, with revenue of $30.31 billion - a 2.1% increase from the previous year.
• The company declared a quarterly dividend of $0.33 per share, which will yield approximately 4.3%, with an ex-dividend date set for October 1st.

Strid Group LLC lowered its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 73.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,848 shares of the cable giant's stock after selling 65,700 shares during the quarter. Strid Group LLC's holdings in Comcast were worth $843,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMCSA. Inlight Wealth Management LLC acquired a new position in shares of Comcast in the 1st quarter worth approximately $26,000. Global Trust Asset Management LLC grew its stake in shares of Comcast by 906.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant's stock worth $27,000 after purchasing an additional 671 shares during the last quarter. Cranbrook Wealth Management LLC grew its stake in shares of Comcast by 86.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock worth $27,000 after purchasing an additional 350 shares during the last quarter. Ransom Advisory Ltd acquired a new position in shares of Comcast in the 1st quarter worth approximately $29,000. Finally, Abound Financial LLC acquired a new position in shares of Comcast in the 1st quarter worth approximately $29,000. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Performance

CMCSA stock opened at $30.90 on Friday. 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 stock has a market cap of $114.09 billion, a P/E ratio of 5.11, a P/E/G ratio of 1.81 and a beta of 0.94. The firm has a 50 day simple moving average of $32.73 and a 200 day simple moving average of $34.15. Comcast Corporation has a 52 week low of $30.38 and a 52 week high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. The business had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company posted $1.21 earnings per share. Research analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is currently 21.82%.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several recent research reports. Loop Capital lowered their price objective on shares of Comcast from $44.00 to $43.00 and set a "buy" rating on the stock in a research note on Wednesday. Bank of America dropped their target price on shares of Comcast from $38.00 to $36.00 and set a "neutral" rating on the stock in a research report on Monday, September 29th. Barclays dropped their target price on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Rothschild & Co Redburn dropped their target price on shares of Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Finally, Scotiabank lifted their target price on shares of Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Comcast currently has an average rating of "Hold" and a consensus price target of $40.26.

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.

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