Naples Global Advisors LLC Sells 20,192 Shares of Comcast Corporation $CMCSA

Key Points

• Naples Global Advisors LLC decreased its stake in Comcast by 53.4%, selling 20,192 shares and holding 17,604 shares worth $628,000 at the end of the last quarter.
• Comcast recently announced a quarterly dividend of $0.33 per share, providing a dividend yield of 4.3% and indicating a payout ratio of 21.82%.
• Analysts have varied price targets for Comcast, with UBS setting a target at $43.00 and Rothschild & Co Redburn lowering it to $35.00, resulting in an average consensus target price of $40.26.

Naples Global Advisors LLC reduced its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 53.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,604 shares of the cable giant's stock after selling 20,192 shares during the quarter. Naples Global Advisors LLC's holdings in Comcast were worth $628,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Inlight Wealth Management LLC bought a new stake in Comcast during the first quarter worth $26,000. Cranbrook Wealth Management LLC raised its holdings 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 worth $27,000 after buying an additional 350 shares in the last quarter. Global Trust Asset Management LLC lifted its position in shares of Comcast by 906.8% during the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant's stock worth $27,000 after buying an additional 671 shares during the last quarter. Abound Financial LLC acquired a new stake in Comcast in the first quarter valued at about $29,000. Finally, Ransom Advisory Ltd acquired a new stake in Comcast in the first quarter valued at about $29,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on CMCSA shares. Weiss Ratings reissued a "hold (c)" rating on shares of Comcast in a report on Saturday, September 27th. Rothschild & Co Redburn lowered their price objective on shares of Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. UBS Group set a $43.00 target price on shares of Comcast in a research report on Friday. Sanford C. Bernstein decreased their target price on shares of Comcast from $37.00 to $36.00 and set a "market perform" rating on the stock in a research note on Wednesday, September 10th. Finally, Scotiabank increased their price target on Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $40.26.

Comcast Price Performance

Shares of CMCSA opened at $30.90 on Friday. The business has a 50-day moving average of $32.73 and a 200-day moving average of $34.16. 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 company has a market capitalization of $114.09 billion, a price-to-earnings ratio of 5.11, a price-to-earnings-growth ratio of 1.78 and a beta of 0.94. 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 earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating 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 period in the prior year, the business posted $1.21 earnings per share. The firm's revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

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

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.

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.