Comcast Corporation $CMCSA Shares Sold by First Financial Bankshares Inc

Key Points

• First Financial Bankshares Inc reduced its stake in Comcast Corporation by 43.0% during the first quarter, now holding 453,862 shares valued at approximately $16.7 million.
• Multiple institutional investors have recently altered their holdings in Comcast, with TPG GP A LLC increasing its stake by 18.1%, and Beck Mack & Oliver LLC increasing theirs by 64.0%.
• Comcast reported earnings of $1.25 per share for the last quarter, exceeding estimates, and announced a quarterly dividend of $0.33 per share, providing a yield of 3.9%.

First Financial Bankshares Inc lowered its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 43.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 453,862 shares of the cable giant's stock after selling 342,060 shares during the quarter. First Financial Bankshares Inc's holdings in Comcast were worth $16,748,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Sculati Wealth Management LLC boosted its stake in Comcast by 0.9% during the 4th quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant's stock worth $1,156,000 after acquiring an additional 285 shares during the last quarter. Toth Financial Advisory Corp grew its position in Comcast by 9.0% in the first quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant's stock valued at $134,000 after purchasing an additional 300 shares in the last quarter. Clearstead Trust LLC raised its holdings in Comcast by 5.2% during the first quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant's stock worth $227,000 after acquiring an additional 305 shares in the last quarter. United Asset Strategies Inc. grew its stake in Comcast by 2.2% in the first quarter. United Asset Strategies Inc. now owns 14,075 shares of the cable giant's stock valued at $519,000 after purchasing an additional 308 shares in the last quarter. Finally, Moors & Cabot Inc. increased its position in shares of Comcast by 0.6% during the 1st quarter. Moors & Cabot Inc. now owns 54,163 shares of the cable giant's stock worth $1,999,000 after purchasing an additional 310 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Price Performance

Shares of Comcast stock traded down $0.04 on Friday, hitting $33.91. The company's stock had a trading volume of 20,907,148 shares, compared to its average volume of 24,065,662. The firm has a fifty day moving average price of $34.06 and a 200-day moving average price of $34.71. Comcast Corporation has a 1 year low of $31.03 and a 1 year high of $45.31. The company has a market capitalization of $125.20 billion, a price-to-earnings ratio of 5.60, a price-to-earnings-growth ratio of 2.03 and a beta of 0.93. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. The business had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The business's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 earnings per share. As a group, sell-side analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a dividend yield of 3.9%. Comcast's payout ratio is presently 21.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CMCSA shares. Citigroup reaffirmed a "buy" rating on shares of Comcast in a report on Tuesday, August 26th. Rothschild & Co Redburn cut their price target on Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Moffett Nathanson upped their price target on shares of Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Scotiabank lifted their price target on shares of Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. Finally, Rosenblatt Securities upped their price objective on Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Comcast presently has a consensus rating of "Hold" and an average target price of $40.73.

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.