Comcast Corporation $CMCSA Stake Lessened by Interchange Capital Partners LLC

Key Points

• Interchange Capital Partners LLC significantly reduced its stake in Comcast Corporation by 88.3% in Q2, owning only 2,465 shares valued at $88,000 after selling 18,604 shares.
• Comcast has a market capitalization of $110.73 billion, with recent quarterly earnings of $0.77 EPS and revenue of $30.34 billion.
• The company announced a quarterly dividend of $0.33 per share, scheduled for payment on October 22nd, representing an annualized yield of 4.4%.

Interchange Capital Partners LLC lessened its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 88.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,465 shares of the cable giant's stock after selling 18,604 shares during the period. Interchange Capital Partners LLC's holdings in Comcast were worth $88,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Dodge & Cox increased its stake in Comcast by 19.1% during the first quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant's stock valued at $3,476,635,000 after purchasing an additional 15,115,074 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Comcast by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,636,264 shares of the cable giant's stock valued at $1,240,955,000 after purchasing an additional 926,663 shares during the last quarter. Nuveen LLC bought a new stake in Comcast during the first quarter valued at $940,015,000. Harris Associates L P increased its stake in Comcast by 0.5% during the first quarter. Harris Associates L P now owns 20,594,519 shares of the cable giant's stock valued at $759,938,000 after purchasing an additional 111,662 shares during the last quarter. Finally, Raymond James Financial Inc. increased its stake in Comcast by 2.2% during the first quarter. Raymond James Financial Inc. now owns 20,243,358 shares of the cable giant's stock valued at $746,980,000 after purchasing an additional 427,705 shares during the last quarter. Institutional investors own 84.32% of the company's stock.

Comcast Stock Performance

CMCSA stock opened at $29.99 on Wednesday. The company has a market capitalization of $110.73 billion, a P/E ratio of 4.96, a PEG ratio of 1.74 and a beta of 0.94. The company has a 50-day simple moving average of $32.37 and a 200 day simple moving average of $33.83. Comcast Corporation has a fifty-two week low of $29.39 and a fifty-two week high of $45.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. The business had revenue of $30.34 billion during the quarter. Comcast had a net margin of 18.44% and a return on equity of 18.86%. Sell-side analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 4.4%. Comcast's dividend payout ratio is presently 21.82%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CMCSA shares. Rothschild & Co Redburn lowered their target price on shares of Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Sanford C. Bernstein reduced their price target on shares of Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a report on Wednesday, September 10th. Royal Bank Of Canada initiated coverage on shares of Comcast in a report on Monday, September 8th. They set a "sector perform" rating and a $38.00 price target for the company. Rosenblatt Securities boosted their price target on shares of Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Finally, Bank of America reduced their price target on shares of Comcast from $38.00 to $36.00 and set a "neutral" rating for the company in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus 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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