Godsey & Gibb Inc. Buys 40,648 Shares of Comcast Corporation $CMCSA

Key Points

• Godsey & Gibb Inc. increased its stake in Comcast Corporation by 8.5% in Q2, acquiring an additional 40,648 shares, bringing its total holdings to 517,937 shares valued at approximately $18.5 million.
• Comcast reported $1.25 earnings per share for its latest quarter, surpassing analysts' expectations of $1.18, and generated revenue of $30.31 billion, up 2.1% from the previous year.
• The company declared a quarterly dividend of $0.33 per share, translating to an annual yield of 4.2%, with the dividend payment scheduled for October 22nd.

Godsey & Gibb Inc. increased its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 8.5% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 517,937 shares of the cable giant's stock after buying an additional 40,648 shares during the quarter. Godsey & Gibb Inc.'s holdings in Comcast were worth $18,485,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Inlight Wealth Management LLC purchased a new position in Comcast in the first quarter worth about $26,000. Global Trust Asset Management LLC increased its stake in Comcast by 906.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant's stock worth $27,000 after acquiring an additional 671 shares during the last quarter. Cranbrook Wealth Management LLC increased its position in shares of Comcast by 86.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock valued at $27,000 after purchasing an additional 350 shares during the last quarter. Ransom Advisory Ltd bought a new position in shares of Comcast during the 1st quarter valued at approximately $29,000. Finally, Abound Financial LLC purchased a new position in Comcast during the 1st quarter valued at $29,000. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Up 0.6%

Shares of NASDAQ CMCSA opened at $31.09 on Tuesday. The company has a market capitalization of $114.79 billion, a price-to-earnings ratio of 5.14, a price-to-earnings-growth ratio of 1.81 and a beta of 0.94. 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 business has a 50-day moving average of $32.68 and a two-hundred day moving average of $34.09. Comcast Corporation has a 1 year low of $30.38 and a 1 year high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The company had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.Comcast's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.21 EPS. On average, analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared 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 4.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's payout ratio is 21.82%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their target price on Comcast from $46.00 to $44.00 and set a "buy" rating for the company in a report on Monday. Morgan Stanley dropped their target price on Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a report on Monday, August 4th. KeyCorp decreased their target price on Comcast from $45.00 to $43.00 and set an "overweight" rating on the stock in a research report on Friday. Barclays cut their price target on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Finally, Royal Bank Of Canada started coverage on Comcast in a research note on Monday, September 8th. They set a "sector perform" rating and a $38.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $40.06.

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.

Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Corporation (NASDAQ:CMCSA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.