Comcast Corporation $CMCSA Shares Sold by Triangle Securities Wealth Management

Key Points

• Triangle Securities Wealth Management reduced its stake in Comcast Corporation by 63.2% in the second quarter, now holding shares worth approximately $205,000.
• Comcast recently declared a quarterly dividend of $0.33, providing an annualized yield of 4.2%.
• Analysts have mixed ratings for Comcast, with one Strong Buy, twelve Buy ratings, and an average price target of $40.56.

Triangle Securities Wealth Management lowered its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 63.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,736 shares of the cable giant's stock after selling 9,840 shares during the quarter. Triangle Securities Wealth Management's holdings in Comcast were worth $205,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CMCSA. Nuveen LLC purchased a new stake in Comcast during the first quarter worth about $940,015,000. Dodge & Cox increased its stake in Comcast by 19.1% during the first quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant's stock worth $3,476,635,000 after purchasing an additional 15,115,074 shares during the period. Pacer Advisors Inc. increased its stake in Comcast by 1,959.3% during the first quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant's stock worth $488,140,000 after purchasing an additional 12,586,329 shares during the period. KBC Group NV increased its stake in Comcast by 724.7% during the first quarter. KBC Group NV now owns 10,160,649 shares of the cable giant's stock worth $374,927,000 after purchasing an additional 8,928,641 shares during the period. Finally, Acadian Asset Management LLC increased its stake in Comcast by 119.1% during the first quarter. Acadian Asset Management LLC now owns 7,595,322 shares of the cable giant's stock worth $280,238,000 after purchasing an additional 4,128,434 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on CMCSA. Benchmark reiterated a "buy" rating on shares of Comcast in a research note on Friday, July 18th. UBS Group cut their target price on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating on the stock in a research note on Friday, August 1st. Moffett Nathanson upped their target price on shares of Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Arete Research upgraded shares of Comcast to a "hold" rating in a research note on Tuesday, July 8th. Finally, Citigroup reiterated a "buy" rating on shares of Comcast in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Comcast has an average rating of "Hold" and an average target price of $40.56.

Comcast Stock Performance

Shares of NASDAQ CMCSA traded down $0.05 during mid-day trading on Friday, hitting $31.59. 53,783,241 shares of the company were exchanged, compared to its average volume of 20,704,542. Comcast Corporation has a 1-year low of $31.03 and a 1-year high of $45.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The stock has a 50 day simple moving average of $33.45 and a 200-day simple moving average of $34.47. The firm has a market cap of $116.64 billion, a price-to-earnings ratio of 5.22, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $29.81 billion. During the same quarter last year, the company earned $1.21 earnings per share. Comcast's quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is currently 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.