Diversify Wealth Management LLC Lowers Stock Holdings in Comcast Corporation (NASDAQ:CMCSA)

Diversify Wealth Management LLC lowered its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 81.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,852 shares of the cable giant's stock after selling 68,969 shares during the period. Diversify Wealth Management LLC's holdings in Comcast were worth $538,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Xponance Inc. lifted its stake in shares of Comcast by 0.6% during the first quarter. Xponance Inc. now owns 547,124 shares of the cable giant's stock worth $20,189,000 after purchasing an additional 3,261 shares in the last quarter. Country Club Bank increased its position in shares of Comcast by 2.4% during the first quarter. Country Club Bank now owns 21,598 shares of the cable giant's stock worth $791,000 after acquiring an additional 500 shares during the last quarter. Croban purchased a new stake in shares of Comcast during the first quarter worth about $835,000. Investment Management Associates Inc. ADV increased its position in shares of Comcast by 23.3% during the first quarter. Investment Management Associates Inc. ADV now owns 273,750 shares of the cable giant's stock worth $10,101,000 after acquiring an additional 51,817 shares during the last quarter. Finally, MJP Associates Inc. ADV increased its position in shares of Comcast by 24.5% during the first quarter. MJP Associates Inc. ADV now owns 22,751 shares of the cable giant's stock worth $840,000 after acquiring an additional 4,472 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CMCSA shares. Oppenheimer lowered their price objective on Comcast from $55.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Morgan Stanley set a $37.00 target price on Comcast in a report on Friday, April 25th. Scotiabank upped their target price on Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a report on Friday. Bernstein Bank lowered their target price on Comcast from $38.00 to $37.00 and set a "market perform" rating for the company in a report on Friday, April 25th. Finally, New Street Research lowered their target price on Comcast from $44.00 to $38.00 and set a "buy" rating for the company in a report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Comcast currently has a consensus rating of "Hold" and a consensus target price of $40.98.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $34.99 on Monday. Comcast Corporation has a one year low of $31.44 and a one year high of $45.31. The stock has a fifty day moving average of $34.96 and a 200-day moving average of $35.39. The company has a market capitalization of $130.64 billion, a PE ratio of 8.60, a price-to-earnings-growth ratio of 1.69 and a beta of 0.95. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.08. The company had revenue of $29.89 billion during the quarter, compared to analyst estimates of $29.82 billion. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The company's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 earnings per share. As a group, equities analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.77%. Comcast's payout ratio is currently 32.43%.

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.

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