Comcast Corporation (NASDAQ:CMCSA) Shares Sold by Tower Bridge Advisors

Key Points

• Tower Bridge Advisors reduced its stake in Comcast Corporation by 59.6%, selling 24,774 shares and now holding 16,799 shares valued at $620,000.
• Comcast's stock price fell by 1.0%, trading at $32.50, and the company has a market cap of $121.35 billion with a P/E ratio of 7.99.
• Comcast declared a quarterly dividend of $0.33 per share, resulting in an annualized yield of 4.06% and a payout ratio of 32.43%.

Tower Bridge Advisors trimmed its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 59.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,799 shares of the cable giant's stock after selling 24,774 shares during the quarter. Tower Bridge Advisors' holdings in Comcast were worth $620,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Sculati Wealth Management LLC raised its stake in shares of Comcast by 0.9% in the 4th quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant's stock worth $1,156,000 after buying an additional 285 shares in the last quarter. Beck Mack & Oliver LLC raised its stake in shares of Comcast by 2.0% in the 4th quarter. Beck Mack & Oliver LLC now owns 15,539 shares of the cable giant's stock worth $583,000 after buying an additional 300 shares in the last quarter. Toth Financial Advisory Corp raised its stake in shares of Comcast by 9.0% in the 1st quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant's stock worth $134,000 after buying an additional 300 shares in the last quarter. Cypress Wealth Services LLC raised its stake in shares of Comcast by 1.7% in the 1st quarter. Cypress Wealth Services LLC now owns 18,706 shares of the cable giant's stock worth $690,000 after buying an additional 318 shares in the last quarter. Finally, Lakeshore Capital Group Inc. raised its stake in shares of Comcast by 3.3% in the 1st quarter. Lakeshore Capital Group Inc. now owns 10,112 shares of the cable giant's stock worth $373,000 after buying an additional 319 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Barclays cut their target price on Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Friday. Rothschild & Co Redburn lowered their target price on Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Benchmark restated a "buy" rating on shares of Comcast in a research note on Friday, July 18th. Morgan Stanley upped their price target on Comcast from $37.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Finally, TD Cowen decreased their price target on Comcast from $46.00 to $45.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $40.77.

Comcast Trading Down 2.1%

Shares of CMCSA stock traded down $0.71 during trading hours on Friday, reaching $32.52. 22,392,993 shares of the stock were exchanged, compared to its average volume of 24,528,980. Comcast Corporation has a 12-month low of $31.44 and a 12-month high of $45.31. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.06. The company's 50-day moving average price is $34.84 and its 200-day moving average price is $35.14. The firm has a market capitalization of $121.42 billion, a price-to-earnings ratio of 7.99, a price-to-earnings-growth ratio of 1.58 and a beta of 0.95.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The business had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. During the same quarter in the previous year, the business posted $1.21 EPS. The company's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that Comcast Corporation will post 4.33 earnings per share 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 issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio is 32.43%.

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.