Kestra Advisory Services LLC Trims Position in Comcast Corporation $CMCSA

Key Points

• Kestra Advisory Services LLC reduced its stake in Comcast by 4.2%, selling 10,638 shares, leaving them with 245,006 shares valued at approximately $9 million.
• Multiple institutional investors modified their positions in Comcast during the first quarter, with notable increases from entities like Retirement Wealth Solutions LLC and Global Wealth Strategies & Associates.
• Comcast announced a quarterly dividend of $0.33 per share, representing a 3.9% yield, to be paid on October 22nd to shareholders recorded on October 1st.

Kestra Advisory Services LLC lessened its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 245,006 shares of the cable giant's stock after selling 10,638 shares during the quarter. Kestra Advisory Services LLC's holdings in Comcast were worth $9,041,000 at the end of the most recent reporting period.

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

Comcast Stock Performance

Shares of NASDAQ CMCSA traded up $0.33 during trading on Friday, reaching $33.90. 8,272,234 shares of the stock traded hands, compared to its average volume of 24,068,516. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $125.15 billion, a P/E ratio of 5.60, a price-to-earnings-growth ratio of 2.02 and a beta of 0.92. Comcast Corporation has a 52-week low of $31.03 and a 52-week high of $45.31. The company has a 50-day moving average of $34.15 and a 200-day moving average of $34.75.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. The business had revenue of $30.31 billion for the quarter, compared to analysts' expectations of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The firm's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.21 EPS. Analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a dividend yield of 3.9%. Comcast's payout ratio is 21.82%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Morgan Stanley cut their target price on Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Monday, August 4th. Arete Research raised Comcast to a "hold" rating in a research report on Tuesday, July 8th. UBS Group reduced their price objective on Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. Barclays lowered their target price on Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Finally, Rothschild & Co Redburn reduced their price target on shares of Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Comcast presently has an average rating of "Hold" and a consensus price target of $40.73.

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.