Providence Wealth Advisors LLC Has $237,000 Holdings in Comcast Co. (NASDAQ:CMCSA)

Providence Wealth Advisors LLC decreased its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 8.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,136 shares of the cable giant’s stock after selling 590 shares during the quarter. Providence Wealth Advisors LLC’s holdings in Comcast were worth $237,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. WINTON GROUP Ltd bought a new position in Comcast in the second quarter valued at approximately $1,899,000. Wilkins Investment Counsel Inc. grew its stake in shares of Comcast by 1.5% in the second quarter. Wilkins Investment Counsel Inc. now owns 49,330 shares of the cable giant’s stock valued at $1,932,000 after buying an additional 714 shares in the last quarter. Williams Financial LLC acquired a new position in Comcast during the second quarter worth $901,000. J.W. Cole Advisors Inc. raised its position in Comcast by 38.2% during the second quarter. J.W. Cole Advisors Inc. now owns 86,468 shares of the cable giant’s stock worth $3,386,000 after acquiring an additional 23,921 shares in the last quarter. Finally, Prosperity Consulting Group LLC lifted its stake in Comcast by 8.3% in the second quarter. Prosperity Consulting Group LLC now owns 15,251 shares of the cable giant’s stock valued at $597,000 after acquiring an additional 1,170 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CMCSA shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a research report on Wednesday, July 24th. Seaport Res Ptn cut Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. The Goldman Sachs Group assumed coverage on Comcast in a report on Tuesday, June 25th. They set a “buy” rating and a $44.00 price target for the company. Finally, Evercore ISI dropped their price objective on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Comcast presently has a consensus rating of “Hold” and an average target price of $45.78.

Comcast Stock Performance

CMCSA opened at $39.55 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11. The firm has a market cap of $153.16 billion, a P/E ratio of 10.46, a price-to-earnings-growth ratio of 1.03 and a beta of 1.01. The business’s fifty day moving average is $39.36 and its 200-day moving average is $39.74.

Comcast (NASDAQ:CMCSA) last released its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The firm had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. During the same period in the prior year, the company earned $1.13 earnings per share. The company’s quarterly revenue was down 2.7% on a year-over-year basis. Sell-side analysts expect that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.14%. The ex-dividend date is Wednesday, October 2nd. Comcast’s payout ratio is 32.80%.

About Comcast

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.