Brookmont Capital Management Sells 2,260 Shares of Comcast Corporation $CMCSA

Brookmont Capital Management reduced its stake in Comcast Corporation (NASDAQ:CMCSA) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 91,888 shares of the cable giant’s stock after selling 2,260 shares during the period. Comcast accounts for 1.9% of Brookmont Capital Management’s holdings, making the stock its 16th biggest holding. Brookmont Capital Management’s holdings in Comcast were worth $3,279,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMCSA. Inlight Wealth Management LLC bought a new stake in Comcast in the first quarter valued at $26,000. Cranbrook Wealth Management LLC increased its stake in Comcast by 86.0% in the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 350 shares in the last quarter. Global Trust Asset Management LLC increased its stake in Comcast by 906.8% in the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 671 shares in the last quarter. Abound Financial LLC bought a new stake in Comcast in the first quarter valued at $29,000. Finally, Ransom Advisory Ltd bought a new stake in Comcast in the first quarter valued at $29,000. 84.32% of the stock is owned by institutional investors.

Comcast Stock Down 1.5%

Comcast stock opened at $30.94 on Thursday. Comcast Corporation has a fifty-two week low of $30.90 and a fifty-two week high of $45.31. The stock has a market cap of $114.24 billion, a PE ratio of 5.11, a price-to-earnings-growth ratio of 1.84 and a beta of 0.94. The firm’s 50-day simple moving average is $32.89 and its 200 day simple moving average is $34.24. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91.

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

Comcast Announces Dividend

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 4.3%. The ex-dividend date is Wednesday, October 1st. Comcast’s payout ratio is presently 21.82%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Arete Research raised shares of Comcast to a “hold” rating in a research note on Tuesday, July 8th. Royal Bank Of Canada started coverage on shares of Comcast in a report on Monday, September 8th. They set a “sector perform” rating and a $38.00 price objective for the company. Rothschild & Co Redburn reduced their price objective on shares of Comcast from $44.00 to $35.00 in a report on Friday, June 20th. UBS Group reduced their price objective on shares of Comcast from $40.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, August 1st. Finally, Moffett Nathanson lifted their price objective on shares of Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.07.

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.