Versant Capital Management Inc Sells 28,021 Shares of Comcast Corporation $CMCSA

Versant Capital Management Inc decreased its position in Comcast Corporation (NASDAQ:CMCSA) by 85.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,822 shares of the cable giant’s stock after selling 28,021 shares during the period. Versant Capital Management Inc’s holdings in Comcast were worth $118,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Imprint Wealth LLC bought a new stake in shares of Comcast during the third quarter valued at approximately $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Comcast during the fourth quarter worth $27,000. Whipplewood Advisors LLC boosted its stake in Comcast by 75.5% during the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock worth $27,000 after buying an additional 401 shares in the last quarter. Main Street Group LTD bought a new stake in Comcast in the 1st quarter valued at $27,000. Finally, Richardson Financial Services Inc. increased its holdings in Comcast by 212.6% in the 4th quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock valued at $30,000 after buying an additional 691 shares during the period. Institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

Shares of CMCSA opened at $25.36 on Monday. The company has a market capitalization of $89.99 billion, a P/E ratio of 8.21, a PEG ratio of 1.44 and a beta of 0.67. Comcast Corporation has a one year low of $21.28 and a one year high of $34.45. The business’s 50 day simple moving average is $23.69 and its 200-day simple moving average is $26.99. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80.

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

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast’s payout ratio is currently 42.72%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CMCSA. Barclays set a $26.00 price objective on shares of Comcast and gave the stock an “equal weight” rating in a report on Friday, July 24th. Royal Bank Of Canada set a $26.00 target price on shares of Comcast and gave the company a “sector perform” rating in a research note on Friday, July 24th. Seaport Research Partners raised shares of Comcast from a “neutral” rating to a “buy” rating in a research report on Thursday, July 2nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $31.00 price objective on shares of Comcast in a report on Friday, July 24th. Finally, Moffett Nathanson lowered their price objective on Comcast from $53.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. Eleven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $32.96.

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.