Value Partners Investments Inc. Reduces Stock Holdings in Comcast Corporation $CMCSA

Key Points

• Value Partners Investments Inc. reduced its stake in Comcast Corporation (NASDAQ:CMCSA) by 9.5% in the second quarter, selling 9,650 shares and holding 91,711 shares valued at $3,274,000.
• Comcast reported $1.25 earnings per share (EPS) for the last quarter, surpassing analysts' expectations, and had quarterly revenue of $30.31 billion, indicating a 2.1% year-over-year increase.
• The company recently announced a quarterly dividend of $0.33 per share, representing a 4.0% yield with a payout ratio of 21.82%.

Value Partners Investments Inc. lessened its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 9.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,711 shares of the cable giant's stock after selling 9,650 shares during the quarter. Value Partners Investments Inc.'s holdings in Comcast were worth $3,274,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CMCSA. Advisor OS LLC grew its holdings in Comcast by 33.2% during the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock valued at $1,308,000 after purchasing an additional 8,841 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its position in Comcast by 10.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant's stock valued at $47,254,000 after buying an additional 118,839 shares during the last quarter. OMNI 360 Wealth Inc. acquired a new stake in shares of Comcast during the first quarter valued at about $335,000. DAVENPORT & Co LLC increased its position in shares of Comcast by 41.7% during the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock worth $157,766,000 after acquiring an additional 1,261,278 shares during the last quarter. Finally, Kestra Investment Management LLC lifted its stake in shares of Comcast by 49.5% in the first quarter. Kestra Investment Management LLC now owns 71,331 shares of the cable giant's stock worth $2,632,000 after acquiring an additional 23,607 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Stock Down 1.0%

CMCSA stock opened at $33.06 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. Comcast Corporation has a 1-year low of $31.03 and a 1-year high of $45.31. The firm has a fifty day moving average price of $33.79 and a two-hundred day moving average price of $34.59. The firm has a market cap of $122.06 billion, a price-to-earnings ratio of 5.46, a PEG ratio of 2.00 and a beta of 0.93.

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

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Wednesday, October 1st. Comcast's payout ratio is presently 21.82%.

Analyst Ratings Changes

CMCSA has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price objective on Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a research note on Monday, August 4th. Royal Bank Of Canada initiated coverage on Comcast in a research note on Monday, September 8th. They set a "sector perform" rating and a $38.00 target price for the company. Scotiabank lifted their price target on shares of Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Benchmark reaffirmed a "buy" rating on shares of Comcast in a report on Friday, July 18th. Finally, Rosenblatt Securities raised their price objective on shares of Comcast from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $40.56.

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.

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