TD Waterhouse Canada Inc. Sells 208,784 Shares of Comcast Corporation $CMCSA

Key Points

• TD Waterhouse Canada reduced its Comcast stake by 36.7%, selling 208,784 shares during the second quarter and retaining 360,860 shares valued at approximately $8.6 million. Institutional investors collectively own 84.32% of Comcast.
• Analysts maintain a mixed outlook, with 11 Buy, 13 Hold, and four Sell ratings. The stock has a consensus price target of $32.96 versus an opening price of $26.49.
• Comcast exceeded quarterly earnings and revenue estimates, reporting adjusted EPS of $1.04 and revenue of $29.94 billion. The company also announced a quarterly dividend of $0.33 per share, representing a 5.0% annualized yield.

TD Waterhouse Canada Inc. lessened its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 36.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 360,860 shares of the cable giant's stock after selling 208,784 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Comcast were worth $8,568,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Imprint Wealth LLC acquired a new position in shares of Comcast during the 3rd quarter worth approximately $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Comcast during the 4th quarter valued at $27,000. Whipplewood Advisors LLC lifted its holdings in Comcast by 75.5% during the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock valued at $27,000 after purchasing an additional 401 shares during the last quarter. Main Street Group LTD bought a new position in Comcast during the first quarter worth $27,000. Finally, Provenance Wealth Advisors LLC bought a new position in Comcast during the first quarter worth $30,000. Institutional investors own 84.32% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $31.00 price objective on shares of Comcast in a research report on Friday, July 24th. Citigroup reduced their target price on shares of Comcast from $35.50 to $32.00 and set a "buy" rating for the company in a report on Monday, June 29th. Deutsche Bank Aktiengesellschaft upgraded shares of 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. Royal Bank Of Canada set a $26.00 price objective on shares of Comcast and gave the stock a "sector perform" rating in a research report on Friday, July 24th. Finally, New Street Research reduced their price objective on Comcast from $31.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, June 25th. Eleven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, Comcast has an average rating of "Hold" and a consensus price target of $32.96.

Comcast Trading Down 0.6%

Shares of Comcast stock opened at $26.49 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a 50-day moving average of $24.86 and a 200-day moving average of $26.49. Comcast Corporation has a 52-week low of $21.28 and a 52-week high of $34.38. The stock has a market cap of $94.00 billion, a PE ratio of 8.57, a PEG ratio of 1.88 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. The business had revenue of $29.94 billion for the quarter, compared to analyst estimates of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. Comcast's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the firm earned $1.25 earnings per share. As a group, sell-side analysts forecast that Comcast Corporation will post 3.52 EPS for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 annualized dividend and a dividend yield of 5.0%. Comcast's dividend payout ratio (DPR) is currently 42.72%.

Comcast Profile

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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