DAVENPORT & Co LLC Trims Stock Holdings in Comcast Corporation $CMCSA

DAVENPORT & Co LLC lessened its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 13.3% during the 2nd quarter, Holdings Channel reports. The firm owned 4,755,085 shares of the cable giant’s stock after selling 731,263 shares during the quarter. DAVENPORT & Co LLC’s holdings in Comcast were worth $116,352,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of CMCSA. Allied Private Wealth LLC acquired a new stake in shares of Comcast during the second quarter worth about $26,000. Imprint Wealth LLC purchased a new stake in Comcast in the third quarter valued at approximately $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Comcast in the 4th quarter worth approximately $27,000. Whipplewood Advisors LLC increased its holdings in Comcast by 75.5% in the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock worth $27,000 after buying an additional 401 shares during the period. Finally, Main Street Group LTD purchased a new position in Comcast during the 1st quarter worth approximately $27,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Morgan Stanley set a $29.00 price objective on shares of Comcast in a research note on Friday, July 24th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $28.00 price objective on shares of Comcast in a research note on Monday, July 13th. Royal Bank Of Canada set a $26.00 target price on shares of Comcast and gave the stock a “sector perform” rating in a report on Friday, July 24th. Weiss Ratings lowered shares of Comcast from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Finally, Wells Fargo & Company set a $23.00 price target on Comcast and gave the stock an “underweight” rating in a research report on Friday, July 24th. Eleven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $32.96.

Comcast Stock Down 0.7%

Comcast stock opened at $25.47 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $90.38 billion, a PE ratio of 8.24, a price-to-earnings-growth ratio of 1.46 and a beta of 0.67. The business has a 50 day simple moving average of $23.74 and a 200-day simple moving average of $26.92. Comcast Corporation has a 12 month low of $21.28 and a 12 month high of $34.45.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The firm had revenue of $29.94 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same quarter last year, the firm posted $1.25 EPS. The business’s revenue was down 1.2% on a year-over-year basis. On average, analysts anticipate that Comcast Corporation will post 3.52 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast’s dividend payout ratio (DPR) is presently 42.72%.

Comcast Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.