Geneos Wealth Management Inc. Sells 10,818 Shares of Comcast Corporation $CMCSA

Key Points

• Geneos Wealth Management Inc. reduced its holdings in Comcast Corporation by 8.3%, totaling $4.38 million after selling 10,818 shares during the first quarter.
• Comcast reported quarterly earnings of $1.25 EPS, exceeding analysts' estimates, and experienced a 2.1% revenue increase compared to the same quarter last year.
• The company declared a quarterly dividend of $0.33 per share, with a dividend yield of 3.9%, to be paid on October 22nd.

Geneos Wealth Management Inc. cut its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 8.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 118,759 shares of the cable giant's stock after selling 10,818 shares during the period. Geneos Wealth Management Inc.'s holdings in Comcast were worth $4,382,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CMCSA. Advisor OS LLC boosted its holdings in Comcast by 33.2% during the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock valued at $1,308,000 after purchasing an additional 8,841 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its holdings 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 valued at $47,254,000 after purchasing an additional 118,839 shares in the last quarter. OMNI 360 Wealth Inc. acquired a new stake in Comcast during the first quarter valued at approximately $335,000. DAVENPORT & Co LLC boosted its holdings in Comcast by 41.7% during the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock valued at $157,766,000 after purchasing an additional 1,261,278 shares in the last quarter. Finally, Kestra Investment Management LLC boosted its holdings in Comcast by 49.5% during the first quarter. Kestra Investment Management LLC now owns 71,331 shares of the cable giant's stock valued at $2,632,000 after purchasing an additional 23,607 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Trading Down 1.0%

NASDAQ:CMCSA traded down $0.34 during trading hours on Friday, hitting $33.06. 23,842,060 shares of the stock were exchanged, compared to its average volume of 19,553,770. The company's 50 day moving average is $33.79 and its two-hundred day moving average is $34.59. Comcast Corporation has a twelve month low of $31.03 and a twelve 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 company has a market capitalization of $122.06 billion, a P/E ratio of 5.46, a price-to-earnings-growth ratio of 2.00 and a beta of 0.93.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share (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 firm had revenue of $30.31 billion for the quarter, compared to the consensus estimate of $29.81 billion. During the same quarter in the prior year, the business earned $1.21 EPS. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio is 21.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CMCSA shares. Sanford C. Bernstein decreased their price objective on Comcast from $37.00 to $36.00 and set a "market perform" rating on the stock in a report on Wednesday. Rosenblatt Securities boosted their target price on Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Rothschild & Co Redburn reduced their target price on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Scotiabank boosted 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. Finally, UBS Group reduced their target price on Comcast from $40.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Comcast currently has an average rating of "Hold" and an average target price of $40.56.

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.