150,149 Comcast Corporation $CMCSA Shares Sold by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management cut its Comcast stake by 75.6% in the third quarter, selling 150,149 shares and retaining 48,522 shares valued at approximately $1.06 million. Institutional investors and hedge funds collectively own 84.32% of Comcast.
• Comcast beat third-quarter earnings expectations with EPS of $1.07 versus the $0.99 consensus, but revenue declined 6.1% year over year to $29.3 billion amid broadband and video subscriber losses.
• The company declared a quarterly dividend of $0.33 per share, equivalent to a 5.8% yield, while analysts maintained a consensus “Hold” rating and an average price target of $30.58.

Axxcess Wealth Management LLC lessened its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 75.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,522 shares of the cable giant's stock after selling 150,149 shares during the period. Axxcess Wealth Management LLC's holdings in Comcast were worth $1,056,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC increased its holdings in shares of Comcast by 75.5% in the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock valued at $27,000 after acquiring an additional 401 shares during the last quarter. Main Street Group LTD acquired a new stake in shares of Comcast during the 1st quarter valued at approximately $27,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Comcast during the 1st quarter valued at approximately $32,000. Financial Freedom LLC raised its position in shares of Comcast by 72.8% during the 1st quarter. Financial Freedom LLC now owns 1,104 shares of the cable giant's stock valued at $32,000 after acquiring an additional 465 shares in the last quarter. Finally, Allied Private Wealth LLC bought a new position in Comcast during the second quarter worth $26,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $22.69 on Friday. Comcast Corporation has a 1-year low of $20.48 and a 1-year high of $32.85. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.82 and a quick ratio of 0.80. The business's fifty day moving average price is $23.80 and its two-hundred day moving average price is $24.63. The firm has a market capitalization of $80.52 billion, a PE ratio of 7.18, a P/E/G ratio of 1.63 and a beta of 0.68.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.08. Comcast had a return on equity of 14.64% and a net margin of 9.20%. The company had revenue of $29.30 billion for the quarter, compared to analysts' expectations of $29.22 billion. During the same period last year, the business posted $1.12 earnings per share. The firm's quarterly revenue was down 6.1% compared to the same quarter last year. On average, research analysts expect that Comcast Corporation will post 3.52 EPS for the current year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 27th. Investors of record on Wednesday, January 6th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Wednesday, January 6th. Comcast's dividend payout ratio (DPR) is 42.72%.

Key Stories Impacting Comcast

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Comcast reported third-quarter adjusted earnings of $1.07 per share, above the roughly $0.99 analyst consensus, while revenue of $29.3 billion was broadly in line with expectations. Wireless growth, improved Peacock profitability and strong film performance helped offset weakness elsewhere. Comcast beats earnings expectations as media revenue offsets weakness in connectivity
• Positive Sentiment: Management said approximately 70% of wireless trial lines converted to paid accounts, indicating that the wireless business may be gaining traction as Comcast seeks to diversify beyond broadband. Peacock also reached profitability, supporting momentum ahead of the planned NBCUniversal spinoff. Comcast: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Comcast declared a quarterly dividend of $0.33 per share, or $1.32 annually, offering an approximately 5.8% yield based on the reported share price. The payout may appeal to income-oriented investors, although the yield also reflects broader concerns about the stock’s growth outlook. Comcast Declares Quarterly Dividend
• Neutral Sentiment: The proposed separation of NBCUniversal from Comcast’s broadband, pay-TV and wireless operations could unlock value by allowing each business to pursue a more focused strategy. However, execution and the final structure of the transaction remain important uncertainties. Comcast Co-CEO Brian Roberts Touts Staffers’ Energy and Excitement About Pending NBCUniversal Split
• Negative Sentiment: Domestic broadband and video subscriber losses continued, with satellite and other competitors intensifying pressure on Comcast’s core connectivity business. Revenue fell about 6% year over year, and adjusted earnings declined from the prior-year quarter despite the EPS beat. Comcast broadband losses deepen as competition pressures core business
• Negative Sentiment: Comcast expects a fourth-quarter restructuring charge exceeding $1 billion, including layoffs, as it overhauls its connectivity operations. Analysts including TD Cowen, Goldman Sachs and Citi lowered price targets, underscoring investor concern that broadband weakness may persist. Comcast Flags $1 Billion Q4 Charge for Layoffs and Restructuring

Analyst Upgrades and Downgrades

Several analysts have weighed in on CMCSA shares. Deutsche Bank Aktiengesellschaft upgraded shares of Comcast from a "hold" rating to a "buy" rating and lowered their target price for the company from $34.00 to $32.00 in a research note on Tuesday, June 30th. TD Cowen reduced their price target on shares of Comcast from $39.00 to $36.00 and set a "buy" rating on the stock in a research report on Friday. Morgan Stanley decreased their price target on shares of Comcast from $29.00 to $27.00 and set an "equal weight" rating for the company in a report on Friday, September 25th. Barclays set a $24.00 price target on shares of Comcast and gave the company an "equal weight" rating in a report on Tuesday, September 29th. Finally, Scotiabank lowered their price objective on shares of Comcast from $29.00 to $27.50 and set a "sector perform" rating for the company in a research report on Friday, October 2nd. Eleven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat, Comcast currently has a consensus rating of "Hold" and an average price target of $30.58.

Comcast Company Profile

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.

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