Comerica Bank Sells 46,890 Shares of Comcast Corporation $CMCSA

Key Points

• Comerica Bank reduced its holdings in Comcast Corporation by 4.4%, selling 46,890 shares to own approximately 1,030,522 shares valued at $38 million.
• Comcast's recent earnings showed an EPS of $1.25, surpassing analysts' expectations of $1.18, with quarterly revenues of $30.31 billion, representing a 2.1% increase from the previous year.
• The company declared a quarterly dividend of $0.33, with a yield of 3.9%, to be paid on October 22nd to investors on record by October 1st.

Comerica Bank lowered its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,030,522 shares of the cable giant's stock after selling 46,890 shares during the quarter. Comerica Bank's holdings in Comcast were worth $38,026,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CMCSA. Advisor OS LLC lifted its stake in Comcast by 33.2% during the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock valued at $1,308,000 after acquiring an additional 8,841 shares during the period. Resona Asset Management Co. Ltd. raised its position in Comcast by 10.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant's stock worth $47,254,000 after acquiring an additional 118,839 shares during the period. OMNI 360 Wealth Inc. purchased a new stake in shares of Comcast during the first quarter worth $335,000. DAVENPORT & Co LLC grew its holdings in shares of Comcast by 41.7% during the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock worth $157,766,000 after buying an additional 1,261,278 shares in the last quarter. Finally, American Financial Group Inc. grew its holdings in shares of Comcast by 29.0% during the first quarter. American Financial Group Inc. now owns 267,000 shares of the cable giant's stock worth $9,852,000 after buying an additional 60,000 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of a number of recent analyst reports. Scotiabank upped their target price on shares of Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Argus cut shares of Comcast from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Benchmark reaffirmed a "buy" rating on shares of Comcast in a report on Friday, July 18th. Morgan Stanley dropped their price target on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Monday, August 4th. Finally, Moffett Nathanson raised their target price on shares of Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Comcast presently has an average rating of "Hold" and a consensus price target of $40.73.

Comcast Stock Performance

Shares of CMCSA opened at $34.15 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $126.09 billion, a PE ratio of 5.64, a price-to-earnings-growth ratio of 2.05 and a beta of 0.92. Comcast Corporation has a 12-month low of $31.03 and a 12-month high of $45.31. The business's fifty day moving average price is $34.21 and its 200 day moving average price is $34.77.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its 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. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The company had revenue of $30.31 billion for the quarter, compared to analysts' expectations of $29.81 billion. During the same period last year, the business posted $1.21 earnings per share. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts forecast that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a yield of 3.9%. Comcast's dividend payout ratio (DPR) is currently 21.82%.

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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