Salvus Wealth Management LLC Sells 10,508 Shares of Comcast Corporation $CMCSA

Key Points

• Salvus Wealth Management LLC reduced its holdings in Comcast Corporation by 43.8% in the second quarter, owning 13,510 shares valued at approximately $482,000 after selling 10,508 shares.
• Comcast's latest earnings report showed an EPS of $1.25, beating estimates by $0.07, with revenues of $30.31 billion, a year-over-year increase of 2.1%.
• The company announced a quarterly dividend of $0.33, yielding 4.2%, set to be paid on October 22nd to investors on record by October 1st.

Salvus Wealth Management LLC trimmed its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 43.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,510 shares of the cable giant's stock after selling 10,508 shares during the period. Salvus Wealth Management LLC's holdings in Comcast were worth $482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of CMCSA. Dodge & Cox raised its holdings in Comcast by 19.1% in the first quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant's stock worth $3,476,635,000 after purchasing an additional 15,115,074 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Comcast by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,636,264 shares of the cable giant's stock worth $1,240,955,000 after buying an additional 926,663 shares in the last quarter. Nuveen LLC purchased a new position in shares of Comcast during the 1st quarter worth $940,015,000. Harris Associates L P lifted its position in shares of Comcast by 0.5% during the first quarter. Harris Associates L P now owns 20,594,519 shares of the cable giant's stock worth $759,938,000 after purchasing an additional 111,662 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its stake in Comcast by 2.2% in the first quarter. Raymond James Financial Inc. now owns 20,243,358 shares of the cable giant's stock worth $746,980,000 after acquiring an additional 427,705 shares during the last quarter. Institutional investors own 84.32% of the company's stock.

Comcast Price Performance

Shares of CMCSA stock traded down $0.10 during mid-day trading on Monday, hitting $31.49. The company had a trading volume of 36,351,866 shares, compared to its average volume of 22,130,610. The company has a market capitalization of $116.27 billion, a P/E ratio of 5.20, a P/E/G ratio of 1.89 and a beta of 0.93. The stock's 50 day moving average price is $33.37 and its 200-day moving average price is $34.41. Comcast Corporation has a 52-week low of $31.03 and a 52-week high of $45.31. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $29.81 billion. During the same quarter last year, the business posted $1.21 EPS. The company's revenue was up 2.1% on a year-over-year basis. Equities research analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Wednesday, October 1st. Comcast's payout ratio is 21.82%.

Wall Street Analyst Weigh In

CMCSA has been the topic of a number of recent analyst reports. Loop Capital cut their price target on shares of Comcast from $50.00 to $44.00 and set a "buy" rating on the stock in a research note on Monday. Arete Research raised Comcast to a "hold" rating in a research report on Tuesday, July 8th. Sanford C. Bernstein cut their price objective on shares of Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a research report on Wednesday, September 10th. Benchmark reiterated a "buy" rating on shares of Comcast in a research report on Friday, July 18th. Finally, Citigroup reissued a "buy" rating on shares of Comcast in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Comcast currently has a consensus rating of "Hold" and a consensus target price of $40.22.

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.