Sky Investment Group LLC Sells 25,103 Shares of Comcast Corporation $CMCSA

Key Points

• Sky Investment Group LLC has reduced its stake in Comcast Corporation by 46.9%, selling 25,103 shares and now holding 28,445 shares worth approximately $1,015,000.
• Comcast reported earnings of $1.25 per share for the last quarter, exceeding analysts' expectations, with a revenue of $30.31 billion, up 2.1% year-over-year.
• The company declared a quarterly dividend of $0.33 per share, which will be paid to shareholders on October 22nd, indicating a yield of 4.2%.

Sky Investment Group LLC lessened its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 46.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,445 shares of the cable giant's stock after selling 25,103 shares during the quarter. Sky Investment Group LLC's holdings in Comcast were worth $1,015,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Inlight Wealth Management LLC purchased a new position in Comcast during the first quarter worth approximately $26,000. Ransom Advisory Ltd acquired a new position in Comcast during the 1st quarter worth $29,000. Abound Financial LLC purchased a new stake in Comcast during the 1st quarter worth about $29,000. Retirement Wealth Solutions LLC lifted its holdings 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 valued at $30,000 after purchasing an additional 448 shares during the last quarter. Finally, Global Wealth Strategies & Associates raised its stake in Comcast by 203.4% during the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after acquiring an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Stock Down 0.3%

NASDAQ CMCSA traded down $0.10 during trading on Monday, hitting $31.49. 36,344,901 shares of the company traded hands, compared to its average volume of 24,110,605. Comcast Corporation has a 12 month low of $31.03 and a 12 month high of $45.31. The business has a fifty day simple moving average of $33.45 and a 200 day simple moving average of $34.46. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $116.27 billion, a P/E ratio of 5.20, a PEG ratio of 1.89 and a beta of 0.93.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share 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 company had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. During the same period last year, the company earned $1.21 earnings per share. The business's revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

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. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. Comcast's payout ratio is presently 21.82%.

Wall Street Analyst Weigh In

CMCSA has been the subject of several analyst reports. Sanford C. Bernstein reduced their price objective on Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a research note on Wednesday, September 10th. Royal Bank Of Canada initiated coverage on Comcast in a research note on Monday, September 8th. They set a "sector perform" rating and a $38.00 price objective for the company. UBS Group reduced their price objective on Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. Rothschild & Co Redburn dropped their target price on Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Finally, Loop Capital dropped their price objective on Comcast from $50.00 to $44.00 and set a "buy" rating for the company in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $40.22.

Comcast 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.