Welch & Forbes LLC Cuts Stock Holdings in Comcast Corporation $CMCSA

Welch & Forbes LLC lowered its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 32.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 254,480 shares of the cable giant’s stock after selling 121,388 shares during the period. Welch & Forbes LLC’s holdings in Comcast were worth $7,606,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Imprint Wealth LLC acquired a new stake in shares of Comcast in the third quarter worth $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Comcast in the fourth quarter worth $27,000. United Financial Planning Group LLC acquired a new stake in shares of Comcast in the third quarter worth $28,000. Olistico Wealth LLC acquired a new stake in shares of Comcast in the fourth quarter worth $29,000. Finally, Richardson Financial Services Inc. increased its position in shares of Comcast by 212.6% in the fourth quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock worth $30,000 after acquiring an additional 691 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CMCSA. BNP Paribas Exane dropped their price objective on shares of Comcast from $26.00 to $25.00 and set an “underperform” rating for the company in a research report on Wednesday, April 8th. Evercore increased their price objective on shares of Comcast from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. New Street Research dropped their price objective on shares of Comcast from $36.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Citigroup increased their price objective on shares of Comcast from $33.00 to $35.50 and gave the stock a “buy” rating in a research report on Friday, April 24th. Finally, Scotiabank increased their price objective on shares of Comcast from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Nine analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Comcast currently has a consensus rating of “Hold” and a consensus target price of $34.79.

Comcast Price Performance

Shares of CMCSA stock opened at $24.87 on Friday. The firm has a market cap of $88.84 billion, a P/E ratio of 4.90, a P/E/G ratio of 2.00 and a beta of 0.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. Comcast Corporation has a 1-year low of $24.53 and a 1-year high of $36.66. The firm has a fifty day moving average of $27.26 and a two-hundred day moving average of $28.54.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.06. The company had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $1.09 EPS. As a group, research analysts anticipate that Comcast Corporation will post 3.58 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast’s dividend payout ratio (DPR) is currently 25.98%.

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.