Burling Wealth Partners LLC Reduces Stake in Comcast Corporation (NASDAQ:CMCSA)

Burling Wealth Partners LLC trimmed its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 64.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,236 shares of the cable giant's stock after selling 11,165 shares during the quarter. Burling Wealth Partners LLC's holdings in Comcast were worth $230,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Inlight Wealth Management LLC bought a new position in shares of Comcast during the first quarter valued at $26,000. Abound Financial LLC bought a new stake in Comcast during the 1st quarter worth about $29,000. Retirement Wealth Solutions LLC increased its stake in shares of Comcast by 126.9% in the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after acquiring an additional 448 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new stake in shares of Comcast in the 4th quarter valued at about $33,000. Finally, Global Wealth Strategies & Associates grew its position in shares of Comcast by 203.4% in the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after purchasing an additional 600 shares during the period. 84.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CMCSA. The Goldman Sachs Group reduced their price target on Comcast from $44.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Moffett Nathanson increased their price target on Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. New Street Research reduced their target price on shares of Comcast from $44.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Citigroup decreased their price target on Comcast from $44.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Bernstein Bank decreased their price target on Comcast from $38.00 to $37.00 and set a "market perform" rating on the stock in a research report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $41.10.

Comcast Trading Down 0.5%

CMCSA stock traded down $0.16 during mid-day trading on Friday, reaching $34.54. The company's stock had a trading volume of 14,787,636 shares, compared to its average volume of 21,914,960. The company has a market cap of $128.96 billion, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 1.68 and a beta of 0.95. Comcast Corporation has a 12 month low of $31.44 and a 12 month high of $45.31. The business's 50 day moving average price is $35.00 and its 200 day moving average price is $35.35. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.06.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The business had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $29.82 billion. During the same quarter in the prior year, the company posted $1.04 earnings per share. Comcast's revenue was down .6% compared to the same quarter last year. On average, equities research analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.82%. Comcast's dividend payout ratio is presently 32.43%.

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.