Comcast Co. (NASDAQ:CMCSA) Stake Cut by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC trimmed its stake in Comcast Co. (NASDAQ:CMCSA) by 11.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,363 shares of the cable giant’s stock after selling 3,648 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Comcast were worth $1,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. World Investment Advisors LLC increased its stake in shares of Comcast by 904.0% during the 3rd quarter. World Investment Advisors LLC now owns 254,545 shares of the cable giant’s stock worth $10,632,000 after purchasing an additional 229,192 shares during the last quarter. Raymond James Financial Inc. bought a new position in Comcast during the fourth quarter valued at about $743,681,000. Bfsg LLC lifted its position in shares of Comcast by 752.8% in the fourth quarter. Bfsg LLC now owns 83,366 shares of the cable giant’s stock worth $3,129,000 after buying an additional 73,590 shares during the last quarter. Mission Wealth Management LP boosted its stake in shares of Comcast by 8.3% during the 4th quarter. Mission Wealth Management LP now owns 43,509 shares of the cable giant’s stock worth $1,633,000 after acquiring an additional 3,344 shares in the last quarter. Finally, Robinson Value Management Ltd. increased its holdings in shares of Comcast by 136.7% during the 4th quarter. Robinson Value Management Ltd. now owns 102,360 shares of the cable giant’s stock valued at $3,842,000 after acquiring an additional 59,107 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on CMCSA. Barclays lowered their price target on Comcast from $42.00 to $37.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Bank of America cut shares of Comcast from a “buy” rating to a “neutral” rating and decreased their price target for the company from $50.00 to $38.00 in a report on Friday, January 31st. Citigroup dropped their price objective on Comcast from $47.00 to $44.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. lowered their target price on Comcast from $45.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Finally, Benchmark cut their target price on shares of Comcast from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Comcast currently has an average rating of “Moderate Buy” and a consensus price target of $43.83.

Comcast Stock Performance

Shares of Comcast stock opened at $36.60 on Tuesday. The firm has a 50 day simple moving average of $35.84 and a 200 day simple moving average of $39.05. Comcast Co. has a fifty-two week low of $32.50 and a fifty-two week high of $45.31. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market cap of $138.39 billion, a P/E ratio of 8.82, a P/E/G ratio of 1.78 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. Sell-side analysts predict that Comcast Co. will post 4.33 earnings per share for the current fiscal year.

Comcast Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 2nd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.61%. This is a boost from Comcast’s previous quarterly dividend of $0.31. Comcast’s dividend payout ratio (DPR) is 31.81%.

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.