Strive Financial Group LLC Sells 41,159 Shares of Comcast Corporation $CMCSA

Key Points

• Strive Financial Group LLC cut its Comcast position by 77.9% in the second quarter, selling 41,159 shares and retaining 11,705 shares valued at approximately $287,000.
• Comcast reported quarterly EPS of $1.04, exceeding estimates of $0.97, while revenue reached $29.94 billion. However, revenue declined 1.2% year over year.
• Comcast declared a quarterly dividend of $0.33 per share, equivalent to an annualized $1.32 payout and a 5.0% yield. Analysts maintain a consensus “Hold” rating with a $32.96 price target.

Strive Financial Group LLC decreased its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 77.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,705 shares of the cable giant's stock after selling 41,159 shares during the period. Strive Financial Group LLC's holdings in Comcast were worth $287,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CMCSA. Norges Bank bought a new position in Comcast in the fourth quarter worth $2,498,626,000. Capital World Investors increased its holdings in Comcast by 20.8% in the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant's stock valued at $4,194,929,000 after buying an additional 24,166,881 shares during the period. Capital Research Global Investors raised its stake in shares of Comcast by 65.1% in the 4th quarter. Capital Research Global Investors now owns 55,664,933 shares of the cable giant's stock valued at $1,663,825,000 after buying an additional 21,958,603 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Comcast by 824.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant's stock valued at $333,509,000 after buying an additional 10,359,800 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Comcast by 4.6% during the 3rd quarter. State Street Corp now owns 180,687,135 shares of the cable giant's stock worth $5,677,190,000 after acquiring an additional 7,917,335 shares during the period. Institutional investors own 84.32% of the company's stock.

Comcast Stock Performance

NASDAQ CMCSA opened at $26.49 on Friday. Comcast Corporation has a 1-year low of $21.28 and a 1-year high of $34.38. The company has a 50 day moving average of $24.86 and a 200-day moving average of $26.49. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. The firm has a market cap of $94.00 billion, a price-to-earnings ratio of 8.57, a PEG ratio of 1.89 and a beta of 0.68.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.07. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The business had revenue of $29.94 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same period in the prior year, the company earned $1.25 EPS. Comcast's revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities analysts forecast that Comcast Corporation will post 3.52 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 dividend on an annualized basis and a yield of 5.0%. Comcast's payout ratio is currently 42.72%.

Wall Street Analyst Weigh In

A number of research analysts have commented on CMCSA shares. Wells Fargo & Company set a $23.00 price target on shares of Comcast and gave the stock an "underweight" rating in a research note on Friday, July 24th. Weiss Ratings lowered Comcast from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 28th. Sanford C. Bernstein restated a "market perform" rating and set a $28.00 target price on shares of Comcast in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft raised Comcast from a "hold" rating to a "buy" rating and decreased their price target for the company from $34.00 to $32.00 in a research note on Tuesday, June 30th. Finally, Scotiabank set a $29.00 price target on Comcast in a research report on Friday, July 24th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $32.96.

About Comcast

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

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