Western Wealth Management LLC Decreases Stock Position in Comcast Co. (NASDAQ:CMCSA)

Western Wealth Management LLC lessened its stake in shares of Comcast Co. (NASDAQ:CMCSA - Free Report) by 32.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,308 shares of the cable giant's stock after selling 18,413 shares during the quarter. Western Wealth Management LLC's holdings in Comcast were worth $1,438,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMCSA. Raymond James Financial Inc. acquired a new position in Comcast in the 4th quarter worth about $743,681,000. Bfsg LLC lifted its position in shares of Comcast by 752.8% in the 4th quarter. Bfsg LLC now owns 83,366 shares of the cable giant's stock worth $3,129,000 after acquiring an additional 73,590 shares during the period. Mission Wealth Management LP boosted its stake in Comcast by 8.3% during the fourth quarter. Mission Wealth Management LP now owns 43,509 shares of the cable giant's stock worth $1,633,000 after buying an additional 3,344 shares in the last quarter. Robinson Value Management Ltd. raised its position in Comcast by 136.7% in the fourth quarter. Robinson Value Management Ltd. now owns 102,360 shares of the cable giant's stock worth $3,842,000 after purchasing an additional 59,107 shares in the last quarter. Finally, Private Management Group Inc. lifted its position in shares of Comcast by 3.0% during the 4th quarter. Private Management Group Inc. now owns 855,787 shares of the cable giant's stock worth $32,118,000 after buying an additional 24,827 shares during the period. Institutional investors own 84.32% of the company's stock.

Comcast Stock Performance

Shares of NASDAQ CMCSA traded down $0.09 during midday trading on Wednesday, hitting $34.87. 6,474,702 shares of the stock traded hands, compared to its average volume of 21,903,550. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.68. Comcast Co. has a one year low of $31.44 and a one year high of $45.31. The firm has a market capitalization of $130.18 billion, a P/E ratio of 8.40, a PEG ratio of 1.78 and a beta of 0.97. The firm has a 50-day moving average of $34.78 and a two-hundred day moving average of $36.87.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. The business had revenue of $29.89 billion during the quarter, compared to analyst estimates of $29.82 billion. During the same period in the prior year, the business posted $1.04 earnings per share. The company's revenue was down .6% on a year-over-year basis. On average, equities analysts forecast that Comcast Co. will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be paid a $0.33 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.79%. Comcast's payout ratio is currently 32.43%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CMCSA. Benchmark cut their price target on Comcast from $57.00 to $55.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Barclays reduced their price target on shares of Comcast from $37.00 to $35.00 and set an "equal weight" rating for the company in a report on Monday, April 28th. Argus cut Comcast from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. UBS Group set a $44.50 price objective on shares of Comcast in a research note on Friday, April 25th. Finally, Citigroup lowered their target price on shares of Comcast from $44.00 to $39.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Comcast has an average rating of "Moderate Buy" and a consensus target price of $42.10.

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.