Comcast Corporation $CMCSA Stock: Soltis Investment Advisors LLC Cuts Holdings

Soltis Investment Advisors LLC cut its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 91.1% in the third quarter, HoldingsChannel.com reports. 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Allied Private Wealth LLC purchased a new stake in shares of Comcast in the 2nd quarter valued at $26,000. Whipplewood Advisors LLC increased its stake in shares of Comcast by 75.5% in the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock worth $27,000 after acquiring an additional 401 shares during the period. Main Street Group LTD purchased a new position in shares of Comcast during the first quarter worth $27,000. Laurel Wealth Advisors LLC purchased a new position in shares of Comcast during the third quarter worth $27,000. Finally, Thompson Investment Management Inc. acquired a new position in Comcast during the second quarter valued at $29,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on CMCSA. Moffett Nathanson lowered their price target on shares of Comcast from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, September 22nd. Bank of America reiterated a “buy” rating and set a $35.00 price objective (down from $37.00) on shares of Comcast in a research note on Wednesday, September 16th. KeyCorp lowered Comcast from a “sector weight” rating to an “underweight” rating and set a $18.00 price objective for the company. in a research note on Thursday, September 24th. Rosenblatt Securities reissued a “buy” rating and issued a $31.00 price objective on shares of Comcast in a report on Monday, October 19th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $23.00 target price on shares of Comcast in a research note on Thursday, October 22nd. Ten research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, Comcast currently has an average rating of “Hold” and an average target price of $29.17.

Comcast Price Performance

NASDAQ:CMCSA opened at $23.22 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $82.45 billion, a price-to-earnings ratio of 7.35, a price-to-earnings-growth ratio of 1.64 and a beta of 0.72. The company has a 50 day moving average price of $23.40 and a 200-day moving average price of $26.09. Comcast Corporation has a 1-year low of $20.48 and a 1-year high of $32.85.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.08. Comcast had a net margin of 9.20% and a return on equity of 14.64%. The firm had revenue of $29.30 billion during the quarter, compared to analysts’ expectations of $29.22 billion. During the same period in the previous year, the business posted $1.12 EPS. The business’s revenue was down 6.1% compared to the same quarter last year. Equities research analysts forecast that Comcast Corporation will post 3.54 EPS for the current year.

Comcast Dividend Announcement

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

Comcast Company 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.