Comcast Corporation $CMCSA Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC reduced its stake in Comcast Corporation (NASDAQ:CMCSA) by 13.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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.

Other hedge funds have also made changes to their positions in the company. AlTi Global Inc. increased its position in shares of Comcast by 8.1% during the 3rd quarter. AlTi Global Inc. now owns 33,268 shares of the cable giant’s stock valued at $1,045,000 after purchasing an additional 2,498 shares during the period. Profund Advisors LLC raised its position in Comcast by 3.1% in the third quarter. Profund Advisors LLC now owns 339,116 shares of the cable giant’s stock worth $10,655,000 after acquiring an additional 10,090 shares in the last quarter. Western Wealth Management LLC lifted its holdings in Comcast by 8.3% in the 3rd quarter. Western Wealth Management LLC now owns 13,048 shares of the cable giant’s stock valued at $410,000 after acquiring an additional 998 shares during the last quarter. Blume Capital Management Inc. boosted its position in shares of Comcast by 11.3% during the 3rd quarter. Blume Capital Management Inc. now owns 330,345 shares of the cable giant’s stock valued at $10,379,000 after purchasing an additional 33,480 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Comcast by 12.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,022,785 shares of the cable giant’s stock worth $32,136,000 after purchasing an additional 111,278 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analysts Set New Price Targets

CMCSA has been the subject of a number of research reports. The Goldman Sachs Group restated a “neutral” rating and set a $30.00 target price (down from $39.00) on shares of Comcast in a report on Friday, October 31st. Oppenheimer set a $38.00 target price on Comcast in a report on Tuesday, November 4th. Williams Trading set a $40.00 target price on Comcast in a report on Friday, October 31st. Bank of America upgraded Comcast from a “neutral” rating to a “buy” rating and increased their price target for the company from $31.00 to $37.00 in a research report on Monday, January 12th. Finally, TD Cowen reduced their price objective on shares of Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Ten investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $34.90.

Comcast Stock Performance

Shares of CMCSA stock opened at $32.47 on Thursday. Comcast Corporation has a fifty-two week low of $25.75 and a fifty-two week high of $37.97. The stock’s 50-day moving average is $29.10 and its two-hundred day moving average is $30.11. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $118.32 billion, a P/E ratio of 6.05, a PEG ratio of 2.47 and a beta of 0.81.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results 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 analysts’ expectations of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.96 EPS. Analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm 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 dividend of $0.33 per share. 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 (DPR) is currently 24.58%.

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.