Sienna Gestion Has $11.10 Million Stake in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Sienna Gestion has reduced its stake in Comcast Corporation (NASDAQ:CMCSA) by 10.5%, currently holding 309,413 shares valued at approximately $11.1 million.
• Comcast's recent quarterly earnings showed an EPS of $1.25, exceeding estimates, with revenues of $30.31 billion marking a 2.1% increase year-over-year.
• The company announced a quarterly dividend of $0.33 per share, equating to an annualized yield of 4.0%, with an ex-dividend date set for October 1st.

Sienna Gestion lowered its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 10.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 309,413 shares of the cable giant's stock after selling 36,295 shares during the period. Comcast makes up 0.9% of Sienna Gestion's investment portfolio, making the stock its 26th biggest holding. Sienna Gestion's holdings in Comcast were worth $11,098,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Advisor OS LLC grew its stake in Comcast by 33.2% during the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock worth $1,308,000 after buying an additional 8,841 shares during the last quarter. Resona Asset Management Co. Ltd. grew its stake in Comcast by 10.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant's stock worth $47,254,000 after buying an additional 118,839 shares during the last quarter. OMNI 360 Wealth Inc. bought a new stake in shares of Comcast during the first quarter valued at approximately $335,000. DAVENPORT & Co LLC grew its stake in shares of Comcast by 41.7% during the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock valued at $157,766,000 after purchasing an additional 1,261,278 shares during the last quarter. Finally, Transcend Capital Advisors LLC grew its stake in shares of Comcast by 21.7% during the first quarter. Transcend Capital Advisors LLC now owns 76,791 shares of the cable giant's stock valued at $2,834,000 after purchasing an additional 13,678 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. New Street Research decreased their price target on shares of Comcast from $44.00 to $38.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Arete Research raised shares of Comcast to a "hold" rating in a research note on Tuesday, July 8th. Evercore ISI decreased their price target 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. Argus cut shares of Comcast from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Finally, Moffett Nathanson increased their price target on shares of Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $40.73.

Comcast Stock Up 1.7%

Comcast stock traded up $0.55 during mid-day trading on Friday, reaching $33.45. The company's stock had a trading volume of 20,700,567 shares, compared to its average volume of 23,292,310. The company has a market capitalization of $123.50 billion, a price-to-earnings ratio of 5.53, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92. Comcast Corporation has a 12 month low of $31.03 and a 12 month high of $45.31. The business's 50 day simple moving average is $34.36 and its 200 day simple moving average is $34.77. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its earnings results 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. The business had revenue of $30.31 billion during 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 for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 earnings per share. As a group, 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 $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) 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.