Comcast Corporation (NASDAQ:CMCSA) Shares Sold by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC decreased its stake in Comcast Corporation by 3.3% in the first quarter, holding 273,690 shares worth approximately $10.1 million after selling 9,236 shares.
• Institutional investors currently own 84.32% of Comcast's stock, with several other hedge funds increasing their positions in the company during the same period.
• Comcast reported earnings of $1.09 per share for the last quarter, exceeding estimates, while maintaining a dividend yield of 3.92% after declaring a quarterly dividend of $0.33 per share.

HB Wealth Management LLC decreased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 273,690 shares of the cable giant's stock after selling 9,236 shares during the period. HB Wealth Management LLC's holdings in Comcast were worth $10,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Sculati Wealth Management LLC lifted its position in shares of Comcast by 0.9% during the fourth quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant's stock valued at $1,156,000 after buying an additional 285 shares during the last quarter. Beck Mack & Oliver LLC raised its stake in shares of Comcast by 2.0% during the 4th quarter. Beck Mack & Oliver LLC now owns 15,539 shares of the cable giant's stock worth $583,000 after buying an additional 300 shares during the period. Toth Financial Advisory Corp raised its stake in shares of Comcast by 9.0% during the 1st quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant's stock worth $134,000 after buying an additional 300 shares during the period. Cypress Wealth Services LLC raised its stake in shares of Comcast by 1.7% during the 1st quarter. Cypress Wealth Services LLC now owns 18,706 shares of the cable giant's stock worth $690,000 after buying an additional 318 shares during the period. Finally, Lakeshore Capital Group Inc. raised its stake in shares of Comcast by 3.3% during the 1st quarter. Lakeshore Capital Group Inc. now owns 10,112 shares of the cable giant's stock worth $373,000 after buying an additional 319 shares during the period. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Stock Up 0.6%

NASDAQ:CMCSA traded up $0.21 during mid-day trading on Wednesday, reaching $33.04. The company's stock had a trading volume of 11,404,022 shares, compared to its average volume of 24,257,287. Comcast Corporation has a 1 year low of $31.44 and a 1 year high of $45.31. The stock has a fifty day moving average of $34.91 and a 200-day moving average of $35.18. The firm has a market capitalization of $123.37 billion, a PE ratio of 8.11, a price-to-earnings-growth ratio of 1.63 and a beta of 0.95. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.06.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend was Wednesday, July 2nd. Comcast's dividend payout ratio (DPR) is 32.43%.

Wall Street Analyst Weigh In

CMCSA has been the topic of a number of recent analyst reports. Argus lowered shares of Comcast from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. KeyCorp lowered their target price on Comcast from $47.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Arete Research upgraded Comcast to a "hold" rating in a research note on Tuesday, July 8th. BNP Paribas lowered Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 price objective for the company. in a research note on Thursday, April 10th. Finally, Oppenheimer lowered their price objective on Comcast from $55.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $41.13.

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.