Greenleaf Trust Trims Stock Position in Comcast Corporation $CMCSA

Greenleaf Trust lessened its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 13.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,655 shares of the cable giant’s stock after selling 11,656 shares during the quarter. Greenleaf Trust’s holdings in Comcast were worth $2,593,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Inlight Wealth Management LLC purchased a new stake in Comcast in the 1st quarter valued at $26,000. Global Trust Asset Management LLC raised its position in Comcast by 906.8% in the 2nd 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 during the last quarter. Cranbrook Wealth Management LLC raised its position in Comcast by 86.0% in the 2nd 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 during the last quarter. Ransom Advisory Ltd purchased a new stake in Comcast in the 1st quarter valued at $29,000. Finally, Abound Financial LLC purchased a new stake in Comcast in the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

NASDAQ:CMCSA opened at $31.42 on Wednesday. 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 Corporation has a fifty-two week low of $31.03 and a fifty-two week high of $45.31. The stock has a market cap of $116.01 billion, a PE ratio of 5.19, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93. The firm’s fifty day simple moving average is $32.98 and its 200-day simple moving average is $34.26.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share 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 business had revenue of $30.31 billion for the quarter, compared to analysts’ expectations of $29.81 billion. During the same period in the prior year, the company posted $1.21 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. Comcast’s dividend payout ratio is 21.82%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CMCSA shares. Bank of America reduced their price target on shares of Comcast from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday. UBS Group reduced their price target on shares of Comcast from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, August 1st. Benchmark reissued a “buy” rating on shares of Comcast in a research note on Friday, July 18th. Rosenblatt Securities boosted their price objective on shares of Comcast from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, August 4th. Finally, 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 research note on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Comcast has an average rating of “Hold” and an average price target of $40.11.

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.