Comcast Corporation $CMCSA Stock Holdings Trimmed by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. has significantly reduced its holdings in Comcast Corporation by 58.4%, now owning 546,989 shares worth $20.18 million after selling 769,145 shares in the first quarter.
• Comcast's quarterly earnings outperformed expectations, reporting $1.25 earnings per share against the consensus estimate of $1.18, alongside a revenue of $30.31 billion.
• The company declared a quarterly dividend of $0.33 per share, representing a yield of 3.9%, which will be paid to shareholders on October 22nd.

1832 Asset Management L.P. reduced its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 58.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 546,989 shares of the cable giant's stock after selling 769,145 shares during the quarter. 1832 Asset Management L.P.'s holdings in Comcast were worth $20,184,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in CMCSA. Inlight Wealth Management LLC bought a new position in shares of Comcast during the first quarter valued at approximately $26,000. Abound Financial LLC bought a new position in shares of Comcast during the first quarter valued at approximately $29,000. Retirement Wealth Solutions LLC grew its holdings in shares of Comcast by 126.9% during the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after purchasing an additional 448 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new position in shares of Comcast during the fourth quarter valued at approximately $33,000. Finally, Global Wealth Strategies & Associates grew its holdings in shares of Comcast by 203.4% during the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after purchasing an additional 600 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $34.15 on Friday. The stock has a fifty day moving average price of $34.21 and a two-hundred day moving average price of $34.77. 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 firm has a market cap of $126.09 billion, a P/E ratio of 5.64, a PEG ratio of 2.05 and a beta of 0.92. 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 issued 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 firm had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $1.21 EPS. Research analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The company 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. This represents a $1.32 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is presently 21.82%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CMCSA. Arete Research raised Comcast to a "hold" rating in a report on Tuesday, July 8th. Barclays lowered their target price on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Morgan Stanley decreased their price objective on Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, August 4th. Rothschild & Co Redburn decreased their price objective on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Finally, Moffett Nathanson increased their price objective on Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $40.73.

About Comcast

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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