Iowa State Bank Sells 1,624 Shares of Comcast Corporation $CMCSA

Iowa State Bank trimmed its position in Comcast Corporation (NASDAQ:CMCSA) by 3.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,933 shares of the cable giant’s stock after selling 1,624 shares during the period. Iowa State Bank’s holdings in Comcast were worth $1,711,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Confluence Wealth Services Inc. increased its position in Comcast by 1.6% in the 2nd quarter. Confluence Wealth Services Inc. now owns 33,315 shares of the cable giant’s stock valued at $1,189,000 after buying an additional 523 shares in the last quarter. Appleton Partners Inc. MA increased its position in Comcast by 459.0% in the 2nd quarter. Appleton Partners Inc. MA now owns 33,832 shares of the cable giant’s stock valued at $1,207,000 after buying an additional 27,780 shares in the last quarter. Sendero Wealth Management LLC boosted its stake in Comcast by 2.1% during the 2nd quarter. Sendero Wealth Management LLC now owns 55,613 shares of the cable giant’s stock valued at $1,985,000 after purchasing an additional 1,158 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in Comcast by 3.7% during the 2nd quarter. Valeo Financial Advisors LLC now owns 71,789 shares of the cable giant’s stock valued at $2,562,000 after purchasing an additional 2,544 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC boosted its stake in Comcast by 0.4% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 257,131 shares of the cable giant’s stock valued at $9,177,000 after purchasing an additional 1,122 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $30.90 on Monday. Comcast Corporation has a twelve month low of $30.38 and a twelve month high of $45.31. The stock’s 50 day moving average price is $32.73 and its 200-day moving average price is $34.13. The company has a market capitalization of $114.09 billion, a PE ratio of 5.11, a PEG ratio of 1.81 and a beta of 0.94. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data 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 return on equity of 18.86% and a net margin of 18.44%.The business had revenue of $30.31 billion for the quarter, compared to the consensus estimate of $29.81 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. Comcast’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be paid a $0.33 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 4.3%. Comcast’s dividend payout ratio is presently 21.82%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Scotiabank lifted their price target on Comcast from $44.50 to $45.00 and gave the company a “sector perform” rating in a research note on Friday, July 11th. Rosenblatt Securities lifted their price target on Comcast from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, August 4th. The Goldman Sachs Group cut their price target on Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. Morgan Stanley cut their price target 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. Finally, Moffett Nathanson lifted their price target on Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $40.26.

About Comcast

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.