Comcast Corporation $CMCSA Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC lessened its stake in Comcast Corporation (NASDAQ:CMCSA) by 13.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,509 shares of the cable giant’s stock after selling 33,571 shares during the period. Wealthfront Advisers LLC’s holdings in Comcast were worth $6,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CMCSA. Capital A Wealth Management LLC grew its position in Comcast by 173.7% in the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after buying an additional 436 shares during the last quarter. Avalon Trust Co raised its position in shares of Comcast by 433.3% during the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after purchasing an additional 624 shares during the last quarter. Howard Hughes Medical Institute purchased a new position in Comcast in the 2nd quarter valued at about $29,000. Princeton Global Asset Management LLC boosted its holdings in shares of Comcast by 403.5% during the second quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant’s stock worth $31,000 after purchasing an additional 686 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Comcast in the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Up 0.5%

CMCSA stock opened at $32.47 on Thursday. The company has a market capitalization of $118.32 billion, a P/E ratio of 6.05, a PEG ratio of 2.47 and a beta of 0.81. The firm has a 50 day simple moving average of $29.10 and a 200-day simple moving average of $30.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. Comcast Corporation has a twelve month low of $25.75 and a twelve month high of $37.97.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.09. The firm had revenue of $32.31 billion for the quarter, compared to analysts’ expectations of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.Comcast’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 earnings per share. On average, equities research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be paid a $0.33 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. Comcast’s dividend payout ratio (DPR) is presently 24.58%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CMCSA. Williams Trading set a $40.00 price objective on Comcast in a report on Friday, October 31st. Evercore cut their price target on shares of Comcast from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Scotiabank decreased their price objective on shares of Comcast from $37.50 to $35.25 and set a “sector perform” rating for the company in a research note on Friday, January 30th. BNP Paribas Exane reissued a “neutral” rating on shares of Comcast in a research note on Tuesday, January 27th. Finally, Royal Bank Of Canada decreased their price target on shares of Comcast from $32.00 to $31.00 and set a “sector perform” rating for the company in a research report on Friday, January 16th. Ten analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $34.90.

Comcast Company 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.