Foster Victor Wealth Advisors LLC Has $7.14 Million Position in Comcast Corporation $CMCSA

Key Points

• Foster Victor Wealth Advisors LLC reduced its stake in Comcast Corporation by 23.3%, owning 200,341 shares valued at approximately $7.14 million after selling 60,721 shares in the second quarter.
• Comcast's stock has a 52-week range between $31.03 and $45.31, with an opening price of $31.62 recently.
• The company announced a quarterly dividend of $0.33 per share, with a dividend yield of 4.2%, scheduled to be paid on October 22nd.

Foster Victor Wealth Advisors LLC reduced its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 23.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,341 shares of the cable giant's stock after selling 60,721 shares during the quarter. Foster Victor Wealth Advisors LLC's holdings in Comcast were worth $7,136,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Ballentine Partners LLC raised its stake in shares of Comcast by 29.4% in the second quarter. Ballentine Partners LLC now owns 51,204 shares of the cable giant's stock worth $1,827,000 after purchasing an additional 11,631 shares during the last quarter. Norden Group LLC grew its holdings in Comcast by 9.2% during the second quarter. Norden Group LLC now owns 64,064 shares of the cable giant's stock worth $2,286,000 after buying an additional 5,406 shares in the last quarter. Maseco LLP purchased a new stake in Comcast in the 2nd quarter valued at $110,000. Cranbrook Wealth Management LLC lifted its stake in Comcast by 86.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock valued at $27,000 after acquiring an additional 350 shares in the last quarter. Finally, Forte Capital LLC ADV boosted its holdings in Comcast by 14.4% during the 2nd quarter. Forte Capital LLC ADV now owns 6,539 shares of the cable giant's stock worth $233,000 after acquiring an additional 821 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Analysts Set New Price Targets

CMCSA has been the subject of several analyst reports. Scotiabank increased their target price on shares of Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. Citigroup reiterated a "buy" rating on shares of Comcast in a research note on Tuesday, August 26th. Moffett Nathanson lifted their target price on shares of Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Sanford C. Bernstein reduced their target price on Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a report on Wednesday, September 10th. Finally, UBS Group decreased their price target on Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Comcast currently has a consensus rating of "Hold" and a consensus price target of $40.22.

Comcast Stock Performance

Shares of CMCSA opened at $31.62 on Wednesday. Comcast Corporation has a 52-week low of $31.03 and a 52-week high of $45.31. The stock's 50-day simple moving average is $33.31 and its 200 day simple moving average is $34.39. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $116.75 billion, a price-to-earnings ratio of 5.23, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93.

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

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be issued 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 4.2%. Comcast's dividend payout ratio is presently 21.82%.

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.

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