SouthState Corp Has $3.48 Million Position in Comcast Co. (NASDAQ:CMCSA)

SouthState Corp reduced its stake in Comcast Co. (NASDAQ:CMCSA) by 0.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,921 shares of the cable giant’s stock after selling 695 shares during the quarter. SouthState Corp’s holdings in Comcast were worth $3,482,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Luken Investment Analytics LLC increased its position in Comcast by 258.0% in the first quarter. Luken Investment Analytics LLC now owns 580 shares of the cable giant’s stock worth $25,000 after buying an additional 418 shares during the last quarter. Steph & Co. raised its stake in Comcast by 154.6% in the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after acquiring an additional 371 shares during the period. OLD Point Trust & Financial Services N A purchased a new stake in Comcast during the fourth quarter valued at about $28,000. IAG Wealth Partners LLC increased its stake in shares of Comcast by 204.7% in the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after purchasing an additional 522 shares in the last quarter. Finally, Pineridge Advisors LLC purchased a new position in Comcast in the 4th quarter valued at approximately $32,000. 84.32% of the stock is owned by institutional investors.

Comcast Trading Up 1.6 %

CMCSA stock traded up $0.60 during trading on Thursday, reaching $39.27. The company had a trading volume of 5,994,120 shares, compared to its average volume of 19,920,246. The business has a 50 day moving average of $39.20 and a 200 day moving average of $39.86. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $154.08 billion, a P/E ratio of 10.46, a PEG ratio of 1.05 and a beta of 1.00. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11.

Comcast (NASDAQ:CMCSA) last released its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. The company had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 EPS. As a group, sell-side analysts forecast that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 3.16%. Comcast’s dividend payout ratio (DPR) is currently 32.80%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CMCSA shares. BNP Paribas lowered shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price objective for the company. in a research report on Tuesday, June 11th. Macquarie reaffirmed a “neutral” rating and set a $40.00 price target on shares of Comcast in a research note on Wednesday, July 24th. Barclays decreased their price objective on Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. Evercore ISI cut their price objective on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, Benchmark reissued a “buy” rating and issued a $55.00 price target on shares of Comcast in a research note on Monday, May 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $45.78.

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.