Comcast Corporation $CMCSA Stock Position Decreased by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada reduced its Comcast stake by 32.2% in the third quarter, selling 116,134 shares and retaining 244,726 shares valued at approximately $5.3 million. Institutional investors and hedge funds collectively own 84.32% of the company.
• Analysts have a consensus “Hold” rating on Comcast, with an average price target of $30.81. Recent target cuts from Goldman Sachs and Citigroup were offset by Seaport Research Partners upgrading the stock to “Buy.”
• Comcast reported quarterly adjusted earnings of $1.04 per share and revenue of $29.94 billion, exceeding estimates, while revenue declined 1.2% year over year. The company announced a $0.33 quarterly dividend, representing a 6.0% annualized yield.

TD Waterhouse Canada Inc. cut its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 32.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 244,726 shares of the cable giant's stock after selling 116,134 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Comcast were worth $5,325,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CMCSA. Whipplewood Advisors LLC raised its holdings in Comcast by 75.5% during the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock worth $27,000 after buying an additional 401 shares during the period. Main Street Group LTD acquired a new position in shares of Comcast in the first quarter valued at approximately $27,000. Provenance Wealth Advisors LLC acquired a new position in shares of Comcast in the first quarter valued at approximately $30,000. GKV Capital Management Co. Inc. bought a new stake in shares of Comcast during the first quarter worth $32,000. Finally, Financial Freedom LLC increased its position in shares of Comcast by 72.8% during the first quarter. Financial Freedom LLC now owns 1,104 shares of the cable giant's stock worth $32,000 after acquiring an additional 465 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CMCSA. The Goldman Sachs Group dropped their price objective on shares of Comcast from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, July 2nd. Barclays set a $24.00 price objective on shares of Comcast and gave the company an "equal weight" rating in a research report on Tuesday, September 29th. Seaport Research Partners raised shares of Comcast from a "neutral" rating to a "buy" rating in a research note on Thursday, July 2nd. Raymond James Financial reiterated a "market perform" rating on shares of Comcast in a report on Friday, October 2nd. Finally, Citigroup lowered their target price on Comcast from $30.00 to $27.50 and set a "buy" rating for the company in a report on Thursday, September 24th. Eleven analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat, Comcast presently has an average rating of "Hold" and a consensus target price of $30.81.

Comcast Stock Performance

NASDAQ CMCSA opened at $21.90 on Tuesday. Comcast Corporation has a 52 week low of $20.48 and a 52 week high of $32.85. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.80. The stock's 50 day moving average price is $24.07 and its two-hundred day moving average price is $24.76. The stock has a market capitalization of $77.72 billion, a price-to-earnings ratio of 7.09, a PEG ratio of 1.57 and a beta of 0.68.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The company had revenue of $29.94 billion during the quarter, compared to analysts' expectations of $29.24 billion. During the same period last year, the business earned $1.25 EPS. The business's quarterly revenue was down 1.2% on a year-over-year basis. As a group, analysts anticipate that Comcast Corporation will post 3.49 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 annualized dividend and a yield of 6.0%. Comcast's dividend payout ratio is presently 42.72%.

Comcast Company Profile

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.

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