Hardman Johnston Global Advisors LLC Sells 11,930 Shares of Comcast Corporation $CMCSA

Key Points

• Hardman Johnston Global Advisors LLC reduced its stake in Comcast Corporation by 1.9%, selling 11,930 shares, leaving them with 617,580 shares worth approximately $22 million.
• Comcast reported $1.25 earnings per share for the last quarter, exceeding analyst expectations of $1.18 and achieving a net margin of 18.44%.
• The company has announced a quarterly dividend of $0.33 per share, reflecting an annualized dividend yield of 4.3% and a payout ratio of 21.82%.

Hardman Johnston Global Advisors LLC lessened its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 1.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 617,580 shares of the cable giant's stock after selling 11,930 shares during the period. Hardman Johnston Global Advisors LLC's holdings in Comcast were worth $22,041,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Inlight Wealth Management LLC acquired a new stake in shares of Comcast in the 1st quarter valued at about $26,000. Global Trust Asset Management LLC grew its stake in Comcast by 906.8% in the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant's stock valued at $27,000 after acquiring an additional 671 shares during the period. Cranbrook Wealth Management LLC raised its position in shares of Comcast by 86.0% during the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock worth $27,000 after purchasing an additional 350 shares during the period. Ransom Advisory Ltd acquired a new position in shares of Comcast during the first quarter worth approximately $29,000. Finally, Abound Financial LLC acquired a new position in shares of Comcast during the first quarter worth approximately $29,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Performance

CMCSA stock opened at $30.40 on Friday. The firm has a market cap of $112.24 billion, a PE ratio of 5.02, a P/E/G ratio of 1.81 and a beta of 0.94. 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 has a 50 day moving average of $32.79 and a 200-day moving average of $34.20. Comcast Corporation has a 12-month low of $30.38 and a 12-month high of $45.31.

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 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 business had revenue of $30.31 billion for the quarter, compared to analysts' expectations of $29.81 billion. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The business's revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts expect that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Wednesday, October 1st. Comcast's payout ratio is presently 21.82%.

Analysts Set New Price Targets

A number of analysts have commented on CMCSA shares. Royal Bank Of Canada assumed coverage on shares of Comcast in a research note on Monday, September 8th. They set a "sector perform" rating and a $38.00 price target for the company. Loop Capital dropped their price target on shares of Comcast from $44.00 to $43.00 and set a "buy" rating on the stock in a research report on Wednesday. Morgan Stanley dropped their price target on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Monday, August 4th. Moffett Nathanson increased their price objective on Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Finally, The Goldman Sachs Group lowered their price objective on Comcast from $40.00 to $39.00 and set a "buy" rating for the company in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Comcast currently has a consensus rating of "Hold" and a consensus target price of $40.07.

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.

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.