Procyon Advisors LLC Reduces Stock Position in Comcast Co. (NASDAQ:CMCSA)

Procyon Advisors LLC trimmed its position in shares of Comcast Co. (NASDAQ:CMCSA) by 11.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,986 shares of the cable giant’s stock after selling 18,191 shares during the quarter. Procyon Advisors LLC’s holdings in Comcast were worth $5,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV grew its stake in Comcast by 5.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 873,614 shares of the cable giant’s stock valued at $34,211,000 after acquiring an additional 41,592 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in Comcast by 2.0% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 137,085 shares of the cable giant’s stock valued at $5,368,000 after buying an additional 2,629 shares during the period. Blair William & Co. IL raised its holdings in shares of Comcast by 197.4% in the 2nd quarter. Blair William & Co. IL now owns 378,175 shares of the cable giant’s stock valued at $14,809,000 after purchasing an additional 251,008 shares in the last quarter. Sienna Gestion boosted its position in Comcast by 0.6% during the second quarter. Sienna Gestion now owns 294,443 shares of the cable giant’s stock valued at $11,525,000 after purchasing an additional 1,794 shares in the last quarter. Finally, WCG Wealth Advisors LLC increased its position in shares of Comcast by 6.8% during the second quarter. WCG Wealth Advisors LLC now owns 79,079 shares of the cable giant’s stock worth $3,097,000 after purchasing an additional 5,062 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMCSA has been the topic of several research analyst reports. Barclays boosted their target price on Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Scotiabank upgraded Comcast from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $47.75 to $48.00 in a research note on Friday, November 1st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Comcast in a report on Wednesday, November 6th. KeyCorp upped their target price on Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Evercore ISI raised Comcast to a “strong-buy” rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Comcast has a consensus rating of “Moderate Buy” and a consensus price target of $47.33.

Insider Buying and Selling at Comcast

In other Comcast news, President Michael J. Cavanagh sold 25,537 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the completion of the transaction, the president now directly owns 534,849 shares in the company, valued at approximately $22,779,218.91. This trade represents a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian L. Roberts sold 234,464 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the sale, the chief executive officer now directly owns 6,669,928 shares in the company, valued at $284,539,128.48. This represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is owned by company insiders.

Comcast Trading Down 0.5 %

CMCSA opened at $36.31 on Friday. The business has a fifty day moving average price of $40.27 and a 200 day moving average price of $40.20. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. Comcast Co. has a 12 month low of $36.15 and a 12 month high of $47.11. The stock has a market capitalization of $138.94 billion, a price-to-earnings ratio of 9.76, a PEG ratio of 1.33 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.06. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The company had revenue of $32.07 billion during the quarter, compared to the consensus estimate of $31.78 billion. During the same quarter in the prior year, the firm posted $1.08 earnings per share. Comcast’s revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side analysts expect that Comcast Co. will post 4.25 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, January 29th. Investors of record on Wednesday, January 8th will be given a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 annualized dividend and a yield of 3.42%. Comcast’s dividend payout ratio (DPR) is 33.33%.

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.