Robertson Stephens Wealth Management LLC Sells 1,564 Shares of Comcast Co. (NASDAQ:CMCSA)

Robertson Stephens Wealth Management LLC lowered its holdings in Comcast Co. (NASDAQ:CMCSA) by 3.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 40,998 shares of the cable giant’s stock after selling 1,564 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Comcast were worth $1,539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Meadow Creek Wealth Advisors LLC boosted its holdings in Comcast by 9.0% in the 4th quarter. Meadow Creek Wealth Advisors LLC now owns 14,014 shares of the cable giant’s stock valued at $526,000 after purchasing an additional 1,160 shares during the period. Private Management Group Inc. raised its position in shares of Comcast by 3.0% in the 4th quarter. Private Management Group Inc. now owns 855,787 shares of the cable giant’s stock valued at $32,118,000 after buying an additional 24,827 shares in the last quarter. Econ Financial Services Corp acquired a new position in shares of Comcast in the 4th quarter valued at approximately $2,944,000. Choreo LLC raised its position in shares of Comcast by 18.9% in the 4th quarter. Choreo LLC now owns 217,654 shares of the cable giant’s stock valued at $8,145,000 after buying an additional 34,618 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Comcast by 11.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,207,704 shares of the cable giant’s stock valued at $45,686,000 after buying an additional 120,172 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Morgan Stanley dropped their target price on shares of Comcast from $45.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Scotiabank cut shares of Comcast from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $48.00 to $44.50 in a research report on Monday. Wells Fargo & Company dropped their target price on shares of Comcast from $45.00 to $37.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Rosenblatt Securities lowered their price objective on shares of Comcast from $45.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday. Ten analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.13.

Insider Activity

In related news, President Michael J. Cavanagh sold 25,537 shares of the stock in a transaction on 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 transaction, the president now directly owns 534,849 shares of the company’s stock, valued at $22,779,218.91. This represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian L. Roberts sold 234,464 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 6,669,928 shares in the company, valued at approximately $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. Insiders own 1.26% of the company’s stock.

Comcast Trading Up 1.6 %

Shares of NASDAQ CMCSA opened at $34.47 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.72 and a current ratio of 0.68. Comcast Co. has a 52-week low of $32.50 and a 52-week high of $45.31. The firm has a 50 day moving average price of $38.05 and a two-hundred day moving average price of $39.93. The stock has a market cap of $131.90 billion, a P/E ratio of 8.31, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. As a group, equities analysts forecast that Comcast Co. will post 4.4 EPS for the current year.

Comcast Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 2nd will be paid a $0.33 dividend. This is a positive change from Comcast’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Wednesday, April 2nd. Comcast’s dividend payout ratio is currently 31.81%.

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.