Pettyjohn Wood & White Inc. Sells 21,045 Shares of Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Pettyjohn Wood & White Inc. reduced its position in Comcast Corporation by 20.9%, now holding 79,680 shares valued at approximately $2.94 million after selling 21,045 shares in the first quarter.
• Comcast's recent earnings report indicates an earnings per share (EPS) of $1.25, surpassing estimates, with revenue increasing by 2.1% year-over-year to $30.31 billion.
• The company's recent quarterly dividend was set at $0.33 per share, resulting in an annualized dividend yield of 4.0%.

Pettyjohn Wood & White Inc. trimmed its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 20.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 79,680 shares of the cable giant's stock after selling 21,045 shares during the quarter. Pettyjohn Wood & White Inc.'s holdings in Comcast were worth $2,940,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CMCSA. Inlight Wealth Management LLC purchased a new stake in Comcast during the first quarter worth approximately $26,000. Abound Financial LLC purchased a new position in shares of Comcast in the first quarter valued at $29,000. Retirement Wealth Solutions LLC boosted its stake in Comcast by 126.9% during the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after acquiring an additional 448 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new position in Comcast during the 4th quarter valued at $33,000. Finally, Global Wealth Strategies & Associates raised its stake in Comcast by 203.4% during the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock worth $33,000 after acquiring an additional 600 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on CMCSA. Evercore ISI dropped their price objective on shares of Comcast from $44.00 to $40.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Oppenheimer dropped their price objective on shares of Comcast from $55.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Barclays dropped their price objective on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a report on Friday. Rosenblatt Securities increased their price objective on shares of Comcast from $36.00 to $37.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Finally, Citigroup dropped their price objective on shares of Comcast from $44.00 to $39.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Comcast has an average rating of "Hold" and an average target price of $40.77.

Comcast Stock Down 2.1%

Shares of CMCSA stock traded down $0.71 during trading on Friday, hitting $32.52. 22,392,993 shares of the company were exchanged, compared to its average volume of 19,415,812. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.91. The firm has a market capitalization of $121.42 billion, a price-to-earnings ratio of 5.38, a P/E/G ratio of 1.58 and a beta of 0.92. The business's 50-day simple moving average is $34.79 and its 200 day simple moving average is $35.10. Comcast Corporation has a twelve month low of $31.44 and a twelve month high of $45.31.

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

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is currently 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.