Kingsview Wealth Management LLC Cuts Stock Position in Comcast Corporation (NASDAQ:CMCSA)

Kingsview Wealth Management LLC decreased its holdings in Comcast Corporation (NASDAQ:CMCSA) by 11.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 300,666 shares of the cable giant’s stock after selling 38,963 shares during the period. Kingsview Wealth Management LLC’s holdings in Comcast were worth $11,095,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Inlight Wealth Management LLC purchased a new position in Comcast during the first quarter valued at approximately $26,000. Abound Financial LLC purchased a new position in Comcast in the 1st quarter valued at about $29,000. Retirement Wealth Solutions LLC lifted its stake in Comcast by 126.9% in the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant’s stock valued at $30,000 after buying an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new position in Comcast in the 4th quarter valued at about $33,000. Finally, Global Wealth Strategies & Associates lifted its stake in Comcast by 203.4% in the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant’s stock valued at $33,000 after buying an additional 600 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

NASDAQ:CMCSA opened at $34.40 on Thursday. The stock has a market capitalization of $128.44 billion, a P/E ratio of 8.45, a PEG ratio of 1.68 and a beta of 0.95. Comcast Corporation has a fifty-two week low of $31.44 and a fifty-two week high of $45.31. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65. The company has a 50 day moving average price of $34.99 and a 200 day moving average price of $35.37.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The company had revenue of $29.89 billion for the quarter, compared to analyst estimates of $29.82 billion. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $1.04 EPS. Equities research analysts forecast that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.84%. Comcast’s dividend payout ratio (DPR) is presently 32.43%.

Analysts Set New Price Targets

Several analysts recently issued reports on CMCSA shares. Moffett Nathanson upped their price objective on shares of Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, June 12th. UBS Group set a $44.50 price objective on shares of Comcast in a research note on Friday, April 25th. Barclays dropped their price objective on shares of Comcast from $37.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. BNP Paribas cut shares of Comcast from a “neutral” rating to an “underperform” rating and set a $31.00 price objective for the company. in a research note on Thursday, April 10th. Finally, Arete Research raised shares of Comcast to a “hold” rating in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Comcast has a consensus rating of “Hold” and a consensus price target of $41.10.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.