Heritage Wealth Advisors Has $41.24 Million Stock Position in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Heritage Wealth Advisors has decreased its stake in Comcast Corporation by 6.9%, now holding approximately 1.1 million shares, representing 2.1% of their total portfolio.
• Comcast recently announced a $0.33 quarterly dividend, yielding 4.0%, with a dividend payout ratio of 32.43%.
• Analysts have mixed ratings on Comcast, with three sell ratings, eleven hold ratings, and twelve buy ratings, the average price target currently set at $41.13.

Heritage Wealth Advisors cut its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 6.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,117,521 shares of the cable giant's stock after selling 82,615 shares during the quarter. Comcast makes up approximately 2.1% of Heritage Wealth Advisors' portfolio, making the stock its 20th biggest position. Heritage Wealth Advisors' holdings in Comcast were worth $41,237,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sculati Wealth Management LLC lifted its position in shares of Comcast by 0.9% in the 4th quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant's stock worth $1,156,000 after acquiring an additional 285 shares during the period. Beck Mack & Oliver LLC lifted its position in shares of Comcast by 2.0% in the 4th quarter. Beck Mack & Oliver LLC now owns 15,539 shares of the cable giant's stock worth $583,000 after acquiring an additional 300 shares during the period. Toth Financial Advisory Corp lifted its position in shares of Comcast by 9.0% in the 1st quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant's stock worth $134,000 after acquiring an additional 300 shares during the period. Moors & Cabot Inc. raised its holdings in shares of Comcast by 0.6% in the 1st quarter. Moors & Cabot Inc. now owns 54,163 shares of the cable giant's stock worth $1,999,000 after buying an additional 310 shares in the last quarter. Finally, Cypress Wealth Services LLC raised its holdings in shares of Comcast by 1.7% in 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 in the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Stock Performance

NASDAQ CMCSA traded down $0.71 during trading on Friday, reaching $32.52. 22,392,993 shares of the company's stock were exchanged, compared to its average volume of 19,415,812. The business has a 50 day moving average price of $34.79 and a 200-day moving average price of $35.10. The stock has a market capitalization of $121.42 billion, a P/E ratio of 5.38, a PEG ratio of 1.58 and a beta of 0.92. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.65. Comcast Corporation has a fifty-two week low of $31.44 and a fifty-two week high of $45.31.

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

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Wednesday, October 1st. Comcast's payout ratio is currently 21.82%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CMCSA. Scotiabank raised their price target on Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. Moffett Nathanson raised their price target on Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Rosenblatt Securities raised their price target on Comcast from $36.00 to $37.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Benchmark reaffirmed a "buy" rating on shares of Comcast in a report on Friday, July 18th. Finally, Barclays decreased their price objective on Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Comcast currently has a consensus rating of "Hold" and a consensus target price of $40.77.

Comcast Company 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.