Philip James Wealth Mangement LLC Sells 5,258 Shares of Comcast Corporation $CMCSA

Philip James Wealth Mangement LLC cut its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 25.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,370 shares of the cable giant’s stock after selling 5,258 shares during the period. Philip James Wealth Mangement LLC’s holdings in Comcast were worth $549,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Inlight Wealth Management LLC purchased a new stake in shares of Comcast during the 1st quarter valued at approximately $26,000. Global Trust Asset Management LLC grew its holdings in shares of Comcast by 906.8% during the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 671 shares during the last quarter. Cranbrook Wealth Management LLC grew 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 purchasing an additional 350 shares during the last quarter. Ransom Advisory Ltd bought a new position in shares of Comcast during the 1st quarter valued at $29,000. Finally, Abound Financial LLC bought a new stake in Comcast in the 1st quarter worth $29,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CMCSA has been the subject of several research analyst reports. Barclays dropped their target price on shares of Comcast from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, August 1st. Rosenblatt Securities boosted their target price on shares of Comcast from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, August 4th. The Goldman Sachs Group dropped their price target on shares of Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. Scotiabank boosted their target price on shares of Comcast from $44.50 to $45.00 and gave the stock a “sector perform” rating in a report on Friday, July 11th. Finally, Rothschild & Co Redburn lowered their target price on shares of Comcast from $44.00 to $35.00 in a report on Friday, June 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $40.07.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $30.94 on Thursday. Comcast Corporation has a twelve month low of $30.90 and a twelve month high of $45.31. The company’s 50 day moving average is $32.89 and its 200 day moving average is $34.24. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The company has a market cap of $114.24 billion, a PE ratio of 5.11, a price-to-earnings-growth ratio of 1.84 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The firm had revenue of $30.31 billion for the quarter, compared to analysts’ expectations of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.21 EPS. On average, sell-side analysts forecast that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s payout ratio is currently 21.82%.

Comcast 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.