Envestnet Asset Management Inc. cut its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 4.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,151,722 shares of the cable giant's stock after selling 332,850 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.19% of Comcast worth $263,899,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Inlight Wealth Management LLC bought a new position in shares of Comcast in the 1st quarter worth about $26,000. Retirement Wealth Solutions LLC raised its position 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 worth $30,000 after acquiring an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new position in shares of Comcast in the 4th quarter worth about $33,000. Global Wealth Strategies & Associates raised 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 worth $33,000 after acquiring an additional 600 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Comcast in the 4th quarter worth about $36,000. 84.32% of the stock is owned by institutional investors and hedge funds.
Comcast Stock Performance
Shares of NASDAQ CMCSA traded up $0.56 during midday trading on Tuesday, reaching $36.00. The company's stock had a trading volume of 12,651,470 shares, compared to its average volume of 21,994,856. Comcast Corporation has a 12-month low of $31.44 and a 12-month high of $45.31. The firm has a 50 day moving average price of $34.85 and a 200-day moving average price of $35.47. The stock has a market capitalization of $134.41 billion, a P/E ratio of 8.85, a PEG ratio of 1.74 and a beta of 0.95. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65.
Comcast (NASDAQ:CMCSA - Get Free Report) last announced its 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 return on equity of 19.70% and a net margin of 12.72%. The firm had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $29.82 billion. During the same quarter in the previous year, the business earned $1.04 EPS. The company's revenue was down .6% compared to the same quarter last year. As a group, equities analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.
Comcast Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 annualized dividend and a yield of 3.67%. Comcast's payout ratio is 32.43%.
Wall Street Analyst Weigh In
CMCSA has been the subject of a number of research analyst reports. Scotiabank reaffirmed a "sector perform" rating and issued a $44.50 target price (down from $45.00) on shares of Comcast in a research report on Friday, April 25th. TD Cowen decreased their target price on Comcast from $46.00 to $45.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Citigroup decreased their target price on Comcast from $44.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, April 25th. New Street Research decreased their target price on Comcast from $44.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, The Goldman Sachs Group decreased their target price on Comcast from $44.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $40.96.
Check Out Our Latest Research Report on CMCSA
Comcast Company Profile
(
Free Report)
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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