Journey Strategic Wealth LLC Sells 17,227 Shares of Comcast Corporation $CMCSA

Journey Strategic Wealth LLC cut its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 64.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 9,404 shares of the cable giant’s stock after selling 17,227 shares during the quarter. Journey Strategic Wealth LLC’s holdings in Comcast were worth $295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Comcast by 0.3% during the second quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant’s stock valued at $13,185,275,000 after acquiring an additional 1,257,196 shares during the last quarter. State Street Corp grew its stake in shares of Comcast by 2.5% during the 2nd quarter. State Street Corp now owns 172,769,800 shares of the cable giant’s stock valued at $6,166,154,000 after purchasing an additional 4,231,140 shares during the period. Dodge & Cox increased its position in shares of Comcast by 18.1% during the 2nd quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock valued at $3,971,309,000 after purchasing an additional 17,054,579 shares during the last quarter. Norges Bank bought a new position in shares of Comcast in the 2nd quarter worth approximately $3,528,361,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Comcast by 7.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 36,154,170 shares of the cable giant’s stock worth $1,289,984,000 after buying an additional 2,517,906 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CMCSA. Bank of America raised shares of Comcast from a “neutral” rating to a “buy” rating and upped their target price for the company from $31.00 to $37.00 in a report on Monday, January 12th. Benchmark reduced their price objective on Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comcast in a research report on Friday, January 9th. BNP Paribas Exane cut Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 price target for the company. in a research report on Tuesday, February 24th. Finally, Zacks Research downgraded Comcast from a “hold” rating to a “strong sell” rating in a research note on Friday, February 20th. Ten research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $34.87.

Insider Buying and Selling

In related news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the sale, the chief executive officer owned 622,336 shares in the company, valued at $20,325,493.76. This trade represents a 8.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.32% of the stock is owned by corporate insiders.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $32.09 on Thursday. The firm has a market cap of $115.46 billion, a price-to-earnings ratio of 5.98, a P/E/G ratio of 2.42 and a beta of 0.79. The firm has a fifty day moving average price of $29.97 and a 200 day moving average price of $29.99. Comcast Corporation has a fifty-two week low of $25.75 and a fifty-two week high of $37.97. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. The business had revenue of $32.31 billion during the quarter, compared to analyst estimates of $32.35 billion. Comcast had a net margin of 16.17% and a return on equity of 16.86%. Comcast’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.96 earnings per share. As a group, sell-side analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

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

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.