Valley National Advisers Inc. Sells 11,456 Shares of Comcast Corporation $CMCSA

Key Points

• Valley National Advisers Inc. reduced its Comcast holdings by 24.2%, selling 11,456 shares and retaining 35,858 shares valued at approximately $1.28 million.
• Comcast Corporation recently reported earnings per share (EPS) of $1.25, beating analyst estimates and showing a revenue increase of 2.1% year-over-year.
• The company announced a quarterly dividend of $0.33 per share, representing an annualized yield of 4.3%, with the ex-dividend date set for October 1st.

Valley National Advisers Inc. cut its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 24.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,858 shares of the cable giant's stock after selling 11,456 shares during the period. Valley National Advisers Inc.'s holdings in Comcast were worth $1,279,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Inlight Wealth Management LLC purchased a new position in Comcast in the first quarter valued at about $26,000. Cranbrook Wealth Management LLC grew its position in Comcast by 86.0% in the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock worth $27,000 after acquiring an additional 350 shares in the last quarter. Global Trust Asset Management LLC lifted its position in Comcast by 906.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant's stock worth $27,000 after buying an additional 671 shares during the last quarter. Abound Financial LLC bought a new position in shares of Comcast during the first quarter valued at about $29,000. Finally, Ransom Advisory Ltd purchased a new position in shares of Comcast in the first quarter worth $29,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Stock Up 1.6%

Shares of NASDAQ CMCSA opened at $30.90 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $114.09 billion, a P/E ratio of 5.11, a P/E/G ratio of 1.81 and a beta of 0.94. The company has a 50 day simple moving average of $32.73 and a 200-day simple moving average of $34.13. Comcast Corporation has a 1 year low of $30.38 and a 1 year high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. The firm had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.Comcast's revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $1.21 earnings per share. On average, equities research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.3%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is 21.82%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CMCSA shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Comcast in a report on Saturday, September 27th. Citigroup reiterated a "buy" rating on shares of Comcast in a research note on Tuesday, August 26th. Sanford C. Bernstein decreased their target price on Comcast from $37.00 to $36.00 and set a "market perform" rating on the stock in a research report on Wednesday, September 10th. Arete Research raised Comcast to a "hold" rating in a research report on Tuesday, July 8th. Finally, Bank of America decreased their price objective on shares of Comcast from $38.00 to $36.00 and set a "neutral" rating for the company in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $40.26.

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.

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