NorthCrest Asset Manangement LLC Sells 353,188 Shares of Comcast Corporation $CMCSA

NorthCrest Asset Manangement LLC decreased its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 90.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 38,019 shares of the cable giant’s stock after selling 353,188 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Comcast were worth $1,163,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital A Wealth Management LLC grew its stake in Comcast by 173.7% in the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock worth $25,000 after purchasing an additional 436 shares during the period. Cranbrook Wealth Management LLC boosted its holdings in shares of Comcast by 86.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock valued at $27,000 after buying an additional 350 shares in the last quarter. Global Trust Asset Management LLC grew its position in shares of Comcast by 906.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after buying an additional 671 shares during the period. Avalon Trust Co grew its position in shares of Comcast by 433.3% in the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after buying an additional 624 shares during the period. Finally, Howard Hughes Medical Institute bought a new position in shares of Comcast in the 2nd quarter worth about $29,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Up 1.2%

Comcast stock opened at $28.16 on Wednesday. The firm has a market cap of $102.61 billion, a price-to-earnings ratio of 4.69, a PEG ratio of 1.98 and a beta of 0.81. 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 12 month low of $25.75 and a 12 month high of $38.40. The stock has a fifty day simple moving average of $28.13 and a two-hundred day simple moving average of $30.64.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, October 30th. The cable giant reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The firm had revenue of $31.20 billion during the quarter, compared to analyst estimates of $30.74 billion. During the same period in the previous year, the business posted $1.12 earnings per share. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities analysts predict that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 14th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, January 14th. This represents a $1.32 annualized dividend and a dividend yield of 4.7%. Comcast’s dividend payout ratio (DPR) is 21.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Pivotal Research dropped their price objective on shares of Comcast from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Barclays set a $28.00 target price on shares of Comcast and gave the company an “equal weight” rating in a report on Tuesday, January 13th. Benchmark cut their price target on Comcast from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. Arete lowered Comcast from a “neutral” rating to a “sell” rating and set a $23.00 price objective for the company. in a research report on Tuesday, January 6th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Comcast from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Twelve equities research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $34.89.

About Comcast

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.