Comcast Corporation $CMCSA Shares Sold by EverSource Wealth Advisors LLC

Key Points

• EverSource Wealth Advisors LLC has reduced its holdings in Comcast Corporation by 36.4%, selling 11,316 shares and now owning 19,760 shares valued at approximately $729,000.
• Comcast reported a profit of $1.25 EPS for the last quarter, exceeding analysts' estimates and showing a year-over-year revenue increase of 2.1%, totaling $30.31 billion.
• The company has declared a quarterly dividend of $0.33 per share, with an annualized dividend yield of 3.9%, set to be paid on October 22nd.

EverSource Wealth Advisors LLC reduced its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 36.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,760 shares of the cable giant's stock after selling 11,316 shares during the quarter. EverSource Wealth Advisors LLC's holdings in Comcast were worth $729,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Inlight Wealth Management LLC bought a new position in Comcast in the 1st quarter worth $26,000. Abound Financial LLC bought a new stake in Comcast during the first quarter valued at about $29,000. Retirement Wealth Solutions LLC raised its holdings in Comcast by 126.9% during the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after acquiring an additional 448 shares during the period. Mpwm Advisory Solutions LLC bought a new stake in Comcast during the fourth quarter valued at about $33,000. Finally, Global Wealth Strategies & Associates raised its holdings in Comcast by 203.4% during the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after acquiring an additional 600 shares during the period. 84.32% of the stock is owned by institutional investors.

Comcast Trading Down 1.8%

CMCSA traded down $0.60 on Wednesday, hitting $33.29. The company had a trading volume of 20,289,539 shares, compared to its average volume of 24,326,885. The company has a market cap of $122.91 billion, a PE ratio of 5.50, a PEG ratio of 2.01 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 company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The business's fifty day simple moving average is $34.30 and its 200 day simple moving average is $34.77.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $29.81 billion. During the same quarter last year, the business posted $1.21 earnings per share. The firm's revenue was up 2.1% on a year-over-year basis. Equities research analysts expect that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a $0.33 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.0%. Comcast's payout ratio is presently 21.82%.

Analysts Set New Price Targets

A number of equities research analysts have commented on CMCSA shares. Rothschild & Co Redburn decreased their price target on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Arete Research raised Comcast to a "hold" rating in a report on Tuesday, July 8th. Barclays decreased their price target on Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. TD Cowen reduced their target price on Comcast from $46.00 to $45.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, Scotiabank lifted their target price on Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $40.73.

Comcast Company 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.