HBW Advisory Services LLC Sells 20,846 Shares of Comcast Corporation $CMCSA

Key Points

• HBW Advisory Services LLC reduced its stake in Comcast Corporation by 23.9%, selling 20,846 shares during the 2nd quarter, leaving them with 66,306 shares worth approximately $2.37 million.
• Several analysts have recently adjusted their target prices for Comcast, with the average target now at $40.56 and the stock having an average rating of "Hold."
• Comcast plans to pay a quarterly dividend of $0.33 on October 22nd, representing an annualized dividend yield of 4.0%.

HBW Advisory Services LLC cut its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 23.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,306 shares of the cable giant's stock after selling 20,846 shares during the quarter. HBW Advisory Services LLC's holdings in Comcast were worth $2,366,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CMCSA. Inlight Wealth Management LLC purchased a new stake in shares of Comcast in the 1st quarter worth about $26,000. Abound Financial LLC purchased a new stake in shares of Comcast in the 1st quarter worth about $29,000. Ransom Advisory Ltd purchased a new stake in shares of Comcast in the 1st quarter worth about $29,000. Retirement Wealth Solutions LLC grew its position in shares of Comcast by 126.9% in the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after buying an additional 448 shares during the period. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Comcast in the 4th quarter worth about $33,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Rosenblatt Securities upped their target price on shares of Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. Moffett Nathanson upped their target price on shares of Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. UBS Group cut their price objective on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating on the stock in a research report on Friday, August 1st. Morgan Stanley cut their price objective 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. Finally, Citigroup reissued a "buy" rating on shares of Comcast in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $40.56.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $33.06 on Friday. The firm's 50-day moving average price is $33.79 and its 200-day moving average price is $34.60. Comcast Corporation has a 52-week low of $31.03 and a 52-week 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 cap of $122.06 billion, a PE ratio of 5.46, a PEG ratio of 2.00 and a beta of 0.93.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued 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 net margin of 18.44% and a return on equity of 18.86%. The firm had revenue of $30.31 billion for the quarter, compared to analysts' expectations of $29.81 billion. During the same quarter in the prior year, the business earned $1.21 EPS. The business's quarterly revenue was up 2.1% on a year-over-year basis. As a group, analysts anticipate 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. Stockholders of record on Wednesday, October 1st will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio is 21.82%.

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.

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