Comcast Corporation (NASDAQ:CMCSA) Shares Sold by Patten & Patten Inc. TN

Key Points

• Patten & Patten Inc. reduced its holdings in Comcast Corporation by 28.2%, now owning 48,668 shares worth approximately $1.8 million.
• Comcast's recent quarterly earnings reported an EPS of $1.09, exceeding analyst expectations, although revenue declined by 0.6% year-over-year.
• The company declared a quarterly dividend of $0.33 per share, resulting in an annualized payout of $1.32 and a dividend yield of 3.92%.

Patten & Patten Inc. TN lowered its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 28.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,668 shares of the cable giant's stock after selling 19,105 shares during the period. Patten & Patten Inc. TN's holdings in Comcast were worth $1,796,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Capital World Investors grew its holdings in Comcast by 8.6% during the 4th quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock worth $5,317,167,000 after acquiring an additional 11,255,683 shares in the last quarter. Geode Capital Management LLC grew its holdings in Comcast by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant's stock worth $3,212,244,000 after acquiring an additional 1,006,272 shares in the last quarter. Dodge & Cox grew its holdings in Comcast by 6.8% during the 4th quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant's stock worth $2,968,723,000 after acquiring an additional 5,039,823 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Comcast by 12.0% during the 4th quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock worth $1,890,027,000 after acquiring an additional 5,402,377 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Comcast by 11.5% during the 4th quarter. Invesco Ltd. now owns 45,175,969 shares of the cable giant's stock worth $1,695,454,000 after acquiring an additional 4,669,069 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Stock Down 4.8%

Shares of Comcast stock opened at $33.68 on Monday. The company has a market cap of $125.75 billion, a P/E ratio of 8.28, a PEG ratio of 1.63 and a beta of 0.95. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65. Comcast Corporation has a one year low of $31.44 and a one year high of $45.31. The firm has a fifty day moving average of $35.01 and a two-hundred day moving average of $35.22.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.08. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The business had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $29.82 billion. During the same period in the prior year, the company posted $1.04 EPS. The business's revenue for the quarter was down .6% on a year-over-year basis. On average, analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.92%. Comcast's dividend payout ratio (DPR) is presently 32.43%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Evercore ISI lowered their target price on shares of Comcast from $44.00 to $40.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Rothschild & Co Redburn lowered their target price on shares of Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Arete Research upgraded shares of Comcast to a "hold" rating in a report on Tuesday, July 8th. BNP Paribas cut shares of Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 target price for the company. in a report on Thursday, April 10th. Finally, Rosenblatt Securities upped their target price on shares of Comcast from $36.00 to $37.00 and gave the company a "neutral" rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Comcast has a consensus rating of "Hold" and an average target price of $41.13.

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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