Corient Private Wealth LP Has $30.60 Million Stock Holdings in Comcast Corporation $CMCSA

Key Points

• Corient Private Wealth reduced its Comcast stake by 36% in the second quarter, selling 701,291 shares and retaining 1.25 million shares valued at approximately $30.6 million. Institutional investors collectively own 84.32% of Comcast.
• Comcast reported quarterly earnings of $1.04 per share, exceeding analyst expectations of $0.97, while revenue of $29.94 billion also topped estimates. However, quarterly revenue declined 1.2% year over year.
• Comcast declared a quarterly dividend of $0.33 per share, representing an annualized yield of about 5.2%. Analysts maintain a consensus “Hold” rating, with an average price target of $32.96 versus the stock’s reported $25.20 price.

Corient Private Wealth LP cut its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 36.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,246,308 shares of the cable giant's stock after selling 701,291 shares during the period. Corient Private Wealth LP's holdings in Comcast were worth $30,597,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Allied Private Wealth LLC acquired a new position in Comcast in the 2nd quarter worth $26,000. Imprint Wealth LLC acquired a new stake in shares of Comcast in the third quarter valued at approximately $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Comcast in the fourth quarter worth $27,000. Whipplewood Advisors LLC boosted its holdings in Comcast by 75.5% during the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock worth $27,000 after purchasing an additional 401 shares during the last quarter. Finally, Main Street Group LTD bought a new position in Comcast in the first quarter valued at $27,000. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Price Performance

Shares of CMCSA stock opened at $25.20 on Monday. 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 firm's 50-day moving average is $25.01 and its 200-day moving average is $26.24. The stock has a market cap of $89.43 billion, a price-to-earnings ratio of 8.16, a PEG ratio of 1.79 and a beta of 0.68. Comcast Corporation has a 52-week low of $21.28 and a 52-week high of $33.38.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.07. The business had revenue of $29.94 billion during the quarter, compared to analysts' expectations of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%.Comcast's quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the company posted $1.25 earnings per share. Sell-side analysts predict that Comcast Corporation will post 3.52 EPS for the current year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast's dividend payout ratio (DPR) is presently 42.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CMCSA shares. Weiss Ratings cut shares of Comcast from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. Rosenblatt Securities restated a "buy" rating and issued a $31.00 price objective on shares of Comcast in a report on Friday, July 24th. Barclays set a $26.00 target price on Comcast and gave the company an "equal weight" rating in a research report on Friday, July 24th. BNP Paribas Exane reduced their price target on Comcast from $25.00 to $22.00 and set an "underperform" rating for the company in a research report on Tuesday, July 14th. Finally, UBS Group reissued a "neutral" rating on shares of Comcast in a research report on Tuesday, June 23rd. Eleven analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $32.96.

About Comcast

Comcast Corporation NASDAQ: CMCSA is a global media and technology company that provides broadband, wireless, video, voice and related services to residential and business customers. Through its connectivity businesses, Comcast offers internet access, mobile service, pay television, telephone service, and home security and automation products, primarily under the Xfinity brand in the United States.

Comcast also operates a broad portfolio of entertainment and media businesses. NBCUniversal includes the NBC and Telemundo broadcast networks, cable networks, film and television studios, the Peacock streaming service, and a collection of theme parks.

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