Chesapeake Wealth Management Sells 1,413 Shares of Comcast Co. (NASDAQ:CMCSA)

Chesapeake Wealth Management decreased its position in Comcast Co. (NASDAQ:CMCSA) by 17.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,636 shares of the cable giant’s stock after selling 1,413 shares during the period. Chesapeake Wealth Management’s holdings in Comcast were worth $260,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Bollard Group LLC boosted its holdings in Comcast by 0.7% in the 4th quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock valued at $1,622,000 after purchasing an additional 244 shares during the period. Tortoise Investment Management LLC grew its position in Comcast by 4.5% during the fourth quarter. Tortoise Investment Management LLC now owns 5,801 shares of the cable giant’s stock worth $254,000 after buying an additional 249 shares in the last quarter. Greenwich Wealth Management LLC increased its stake in Comcast by 2.7% in the 2nd quarter. Greenwich Wealth Management LLC now owns 9,754 shares of the cable giant’s stock worth $382,000 after acquiring an additional 261 shares during the last quarter. Verum Partners LLC raised its holdings in shares of Comcast by 4.9% in the 2nd quarter. Verum Partners LLC now owns 5,663 shares of the cable giant’s stock valued at $222,000 after acquiring an additional 267 shares in the last quarter. Finally, Mcdonald Partners LLC boosted its position in shares of Comcast by 1.4% during the 1st quarter. Mcdonald Partners LLC now owns 19,591 shares of the cable giant’s stock valued at $849,000 after acquiring an additional 270 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

CMCSA stock opened at $40.11 on Friday. The stock has a market capitalization of $157.38 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 1.03 and a beta of 1.01. The firm’s 50-day moving average price is $39.57 and its two-hundred day moving average price is $39.66. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.11.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The company had revenue of $29.69 billion for the quarter, compared to the consensus estimate of $30.02 billion. During the same quarter in the previous year, the business earned $1.13 EPS. Comcast’s revenue was down 2.7% compared to the same quarter last year. As a group, equities analysts predict that Comcast Co. will post 4.23 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.09%. Comcast’s dividend payout ratio is presently 32.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CMCSA shares. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research note on Wednesday, July 24th. KeyCorp lowered their price objective on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Pivotal Research reduced their target price on Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Seaport Res Ptn cut Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. Finally, Macquarie reissued a “neutral” rating and set a $40.00 price objective on shares of Comcast in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $45.78.

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.