Venturi Wealth Management LLC Sells 2,446 Shares of Comcast Corporation $CMCSA

Venturi Wealth Management LLC reduced its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 6.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,623 shares of the cable giant’s stock after selling 2,446 shares during the quarter. Venturi Wealth Management LLC’s holdings in Comcast were worth $1,343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Inlight Wealth Management LLC purchased a new stake in shares of Comcast during the 1st quarter valued at about $26,000. Global Trust Asset Management LLC boosted its holdings in shares of Comcast by 906.8% in the second 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. Cranbrook Wealth Management LLC boosted its holdings in shares of 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 buying an additional 350 shares during the last quarter. Ransom Advisory Ltd purchased a new position in shares of Comcast in the first quarter worth approximately $29,000. Finally, Abound Financial LLC purchased a new position in shares of Comcast in the first quarter worth approximately $29,000. 84.32% of the stock is currently owned by institutional investors.

Comcast Price Performance

CMCSA stock opened at $30.77 on Thursday. Comcast Corporation has a one year low of $30.30 and a one year high of $45.31. The company’s fifty day moving average price is $32.60 and its 200-day moving average price is $34.05. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $113.61 billion, a PE ratio of 5.09, a price-to-earnings-growth ratio of 1.82 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS 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 firm had revenue of $30.31 billion for the quarter, compared to the consensus estimate of $29.81 billion. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate 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. Stockholders of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s payout ratio is 21.82%.

Analyst Ratings Changes

A number of research firms recently issued reports on CMCSA. Bank of America dropped their price objective on shares of Comcast from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, September 29th. Sanford C. Bernstein dropped their price objective on shares of Comcast from $37.00 to $36.00 and set a “market perform” rating on the stock in a report on Wednesday, September 10th. Moffett Nathanson raised their price objective on shares of Comcast from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Scotiabank reissued a “sector perform” rating and issued a $45.50 price objective (up previously from $45.00) on shares of Comcast in a report on Monday. Finally, Barclays lowered their price target on shares of Comcast from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, August 1st. One 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, the company presently has an average rating of “Hold” and an average target price of $39.94.

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.