Heritage Wealth Advisors Sells 1,256,237 Shares of Comcast Corporation $CMCSA

Key Points

• Heritage Wealth Advisors cut its Comcast stake by 99.7%, selling 1,256,237 shares in Q3 and leaving just 3,789 shares worth about $119,000 per its latest 13F filing.
• CEO Michael J. Cavanagh sold 57,947 shares at an average $32.66 for roughly $1.89 million on Feb. 11, reducing his ownership by about 8.52%; insiders now own 1.32% of Comcast.
• Comcast declared a quarterly dividend of $0.33 (annualized $1.32, yield ~4.1%) with an ex-dividend date of April 1 and also reported Q earnings of $0.84 EPS (vs. $0.75 est.); the stock trades at a P/E of about 5.94.

Heritage Wealth Advisors cut its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 99.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,789 shares of the cable giant's stock after selling 1,256,237 shares during the quarter. Heritage Wealth Advisors' holdings in Comcast were worth $119,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CMCSA. Osaic Holdings Inc. grew its stake in Comcast by 39.9% in the 2nd quarter. Osaic Holdings Inc. now owns 1,055,192 shares of the cable giant's stock valued at $37,954,000 after buying an additional 300,898 shares during the last quarter. Vanguard Group Inc. raised its holdings in Comcast by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant's stock valued at $13,185,275,000 after acquiring an additional 1,257,196 shares during the period. Penserra Capital Management LLC lifted its position in Comcast by 20.0% during the second quarter. Penserra Capital Management LLC now owns 82,089 shares of the cable giant's stock worth $2,928,000 after acquiring an additional 13,653 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Comcast by 9.7% during the third quarter. Principal Financial Group Inc. now owns 7,536,937 shares of the cable giant's stock worth $236,810,000 after acquiring an additional 665,635 shares during the period. Finally, Ashton Thomas Private Wealth LLC boosted its holdings in shares of Comcast by 75.3% during the third quarter. Ashton Thomas Private Wealth LLC now owns 340,764 shares of the cable giant's stock worth $10,707,000 after acquiring an additional 146,339 shares during the period. Institutional investors own 84.32% of the company's stock.

Comcast Trading Up 1.0%

Shares of CMCSA stock opened at $31.91 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock has a market cap of $114.81 billion, a P/E ratio of 5.94, a price-to-earnings-growth ratio of 2.49 and a beta of 0.79. The stock has a 50 day simple moving average of $30.06 and a 200 day simple moving average of $29.96. Comcast Corporation has a 1 year low of $25.75 and a 1 year high of $37.97.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.09. The firm had revenue of $32.31 billion for the quarter, compared to analyst estimates of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The company's revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company earned $0.96 EPS. On average, research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be given a $0.33 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.1%. Comcast's dividend payout ratio (DPR) is presently 24.58%.

Insider Activity at Comcast

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the business's stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following the completion of the transaction, the chief executive officer owned 622,336 shares of the company's stock, valued at $20,325,493.76. The trade was a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CMCSA shares. Bank of America upgraded Comcast from a "neutral" rating to a "buy" rating and increased their target price for the stock from $31.00 to $37.00 in a research note on Monday, January 12th. Morgan Stanley reduced their price target on Comcast from $32.00 to $31.00 and set an "equal weight" rating for the company in a research note on Wednesday, December 10th. Sanford C. Bernstein decreased their price objective on Comcast from $34.00 to $32.00 and set a "market perform" rating on the stock in a report on Thursday, January 15th. Deutsche Bank Aktiengesellschaft lowered their price objective on Comcast from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Friday, January 30th. Finally, Moffett Nathanson dropped their target price on Comcast from $58.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, November 13th. Ten analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $34.87.

Comcast Company Profile

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

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