Soltis Investment Advisors LLC Sells 190,096 Shares of Comcast Corporation $CMCSA

Soltis Investment Advisors LLC cut its position in Comcast Corporation (NASDAQ:CMCSA) by 91.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,536 shares of the cable giant’s stock after selling 190,096 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Comcast were worth $403,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Comcast by 824.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant’s stock worth $333,509,000 after buying an additional 10,359,800 shares during the last quarter. Nykredit A S purchased a new stake in Comcast during the second quarter valued at approximately $185,237,000. Cullen Capital Management LLC acquired a new stake in Comcast in the second quarter valued at approximately $129,801,000. Bank of America Corp DE boosted its stake in Comcast by 10.2% in the first quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant’s stock valued at $1,173,232,000 after acquiring an additional 3,783,234 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Comcast by 34.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 9,634,612 shares of the cable giant’s stock worth $209,649,000 after purchasing an additional 2,464,361 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Price Performance

NASDAQ:CMCSA opened at $23.22 on Monday. The company has a market cap of $82.45 billion, a PE ratio of 7.35, a P/E/G ratio of 1.64 and a beta of 0.72. Comcast Corporation has a twelve month low of $20.48 and a twelve month high of $32.85. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.91. The company’s 50 day moving average is $23.40 and its two-hundred day moving average is $26.09.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. Comcast had a net margin of 9.20% and a return on equity of 14.64%. The business had revenue of $29.30 billion during the quarter, compared to analysts’ expectations of $29.22 billion. During the same quarter last year, the company posted $1.12 earnings per share. The business’s quarterly revenue was down 6.1% on a year-over-year basis. Analysts anticipate that Comcast Corporation will post 3.54 EPS for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Investors of record on Wednesday, January 6th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Wednesday, January 6th. Comcast’s dividend payout ratio is presently 41.77%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Weiss Ratings downgraded Comcast from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, October 23rd. Freedom Broker lowered their price objective on Comcast from $29.00 to $25.00 and set a “hold” rating for the company in a research report on Monday, October 26th. Zacks Research downgraded Comcast from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. Royal Bank Of Canada set a $26.00 target price on Comcast and gave the stock a “sector perform” rating in a research note on Friday, July 24th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $23.00 target price on shares of Comcast in a research report on Thursday, October 22nd. Ten research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $29.17.

Comcast Profile

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.