Comcast Corporation $CMCSA Stock Sold by Godsey & Gibb Inc.

Key Points

• Godsey & Gibb Inc. cut its Comcast stake by 99.6% in the third quarter, selling 574,258 shares and retaining 2,528 shares worth approximately $55,000.
• Comcast shares opened at $21.05, near their 52-week low, while the company reported quarterly earnings and revenue above analyst expectations despite a 1.2% year-over-year revenue decline.
• Comcast declared a quarterly dividend of $0.33 per share, equal to a 6.3% yield; analysts’ consensus rating was “Hold,” with an average price target of $30.81.

Godsey & Gibb Inc. lowered its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 99.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,528 shares of the cable giant's stock after selling 574,258 shares during the period. Godsey & Gibb Inc.'s holdings in Comcast were worth $55,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMCSA. Douglas Lane & Associates LLC boosted its holdings in Comcast by 16.6% in the third quarter. Douglas Lane & Associates LLC now owns 2,549,714 shares of the cable giant's stock worth $55,482,000 after acquiring an additional 363,552 shares in the last quarter. Saudi Central Bank grew its stake in shares of Comcast by 87.2% in the second quarter. Saudi Central Bank now owns 251,190 shares of the cable giant's stock worth $6,167,000 after acquiring an additional 117,038 shares during the last quarter. Nykredit A S purchased a new stake in shares of Comcast in the second quarter worth $137,515,000. Inceptionr LLC bought a new position in shares of Comcast during the first quarter valued at $660,000. Finally, Bank of America Corp DE increased its holdings in shares of Comcast by 10.2% during the first quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant's stock valued at $1,173,232,000 after acquiring an additional 3,783,234 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Trading Up 0.8%

Shares of NASDAQ:CMCSA opened at $21.05 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80. Comcast Corporation has a 1 year low of $20.48 and a 1 year high of $32.85. The company has a market cap of $74.70 billion, a P/E ratio of 6.81, a PEG ratio of 1.50 and a beta of 0.68. The stock's fifty day moving average price is $24.28 and its 200-day moving average price is $24.91.

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

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast's payout ratio is presently 42.72%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CMCSA shares. New Street Research lowered their price target on Comcast from $31.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, June 25th. 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. UBS Group restated a "neutral" rating and set a $27.00 price objective (down from $32.00) on shares of Comcast in a research note on Tuesday, September 15th. The Goldman Sachs Group reduced their price objective on shares of Comcast from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Thursday, July 2nd. Finally, Citigroup decreased their target price on shares of Comcast from $30.00 to $27.50 and set a "buy" rating for the company in a report on Thursday, September 24th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $30.81.

About Comcast

Comcast Corporation NASDAQ: CMCSA is a global media and communications company headquartered in Philadelphia, Pennsylvania. Its businesses include broadband internet, wireless services, video, voice, and business connectivity services, primarily marketed under the Xfinity brand in the United States. Comcast also provides advertising and related technology services to businesses and media organizations.

Through NBCUniversal, Comcast operates national and local television networks, broadcast network NBC, Spanish-language network Telemundo, the Peacock streaming service, and a portfolio of film and television production businesses.

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