Harrell Investment Partners LLC Sells 10,613 Shares of Comcast Corporation $CMCSA

Key Points

• Harrell Investment Partners LLC sold 10,613 shares of Comcast Corporation (CMCSA), reducing its holdings by 11.1% during the 2nd quarter, leaving it with 84,871 shares worth $3,029,000.
• Comcast recently announced a quarterly dividend of $0.33 per share, with a dividend yield of 4.2% and a payout ratio of 21.82%.
• Comcast's stock has shown a 12-month low of $31.03 and a high of $45.31, with a market cap of $116.71 billion and a current price-to-earnings ratio of 5.22.

Harrell Investment Partners LLC trimmed its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 11.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,871 shares of the cable giant's stock after selling 10,613 shares during the quarter. Harrell Investment Partners LLC's holdings in Comcast were worth $3,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CMCSA. Nuveen LLC purchased a new stake in Comcast during the 1st quarter valued at about $940,015,000. Dodge & Cox grew its position in Comcast by 19.1% during the 1st quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant's stock valued at $3,476,635,000 after purchasing an additional 15,115,074 shares during the last quarter. Pacer Advisors Inc. grew its position in Comcast by 1,959.3% during the 1st quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant's stock valued at $488,140,000 after purchasing an additional 12,586,329 shares during the last quarter. KBC Group NV grew its position in Comcast by 724.7% during the 1st quarter. KBC Group NV now owns 10,160,649 shares of the cable giant's stock valued at $374,927,000 after purchasing an additional 8,928,641 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in Comcast by 119.1% during the 1st quarter. Acadian Asset Management LLC now owns 7,595,322 shares of the cable giant's stock valued at $280,238,000 after purchasing an additional 4,128,434 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Performance

CMCSA opened at $31.61 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The company has a market cap of $116.71 billion, a price-to-earnings ratio of 5.22, a PEG ratio of 1.89 and a beta of 0.93. The company's 50 day moving average is $33.25 and its 200 day moving average is $34.38. Comcast Corporation has a 12-month low of $31.03 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 (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The company had revenue of $30.31 billion for the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm's revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 earnings per share. On average, equities research analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The firm also recently disclosed 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 of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. Comcast's dividend payout ratio (DPR) is presently 21.82%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Scotiabank increased their price objective on shares of Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Royal Bank Of Canada assumed coverage on shares of Comcast in a research report on Monday, September 8th. They set a "sector perform" rating and a $38.00 price objective on the stock. Rosenblatt Securities raised their price target on shares of Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, August 4th. UBS Group dropped their price target on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Finally, Arete Research raised shares of Comcast to a "hold" rating in a report on Tuesday, July 8th. One 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 given a Sell rating to the company. Based on data from MarketBeat.com, Comcast currently has a consensus rating of "Hold" and an average target price of $40.19.

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.