Modera Wealth Management LLC Has $6.18 Million Position in Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Modera Wealth Management LLC reduced its stake in Comcast Corporation by 7.2%, holding 167,549 shares valued at approximately $6.18 million after selling nearly 13,000 shares.
• Comcast recently announced a quarterly dividend of $0.33 per share, equating to an annualized dividend of $1.32 and a yield of 4.06%.
• Analyst price targets for Comcast vary, with recent reports showing target price reductions from firms like Bernstein and BNP Paribas, indicating a consensus rating of "Hold" with an average target price of around $41.13.

Modera Wealth Management LLC cut its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 7.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 167,549 shares of the cable giant's stock after selling 12,998 shares during the quarter. Modera Wealth Management LLC's holdings in Comcast were worth $6,183,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Sculati Wealth Management LLC increased its stake in Comcast by 0.9% in the fourth quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant's stock valued at $1,156,000 after purchasing an additional 285 shares in the last quarter. Beck Mack & Oliver LLC raised its stake 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 valued at $583,000 after purchasing an additional 300 shares during the period. Toth Financial Advisory Corp raised its position in Comcast by 9.0% in the 1st quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant's stock valued at $134,000 after buying an additional 300 shares during the last quarter. Cypress Wealth Services LLC raised its holdings in shares of Comcast by 1.7% in the first quarter. Cypress Wealth Services LLC now owns 18,706 shares of the cable giant's stock valued at $690,000 after purchasing an additional 318 shares during the last quarter. Finally, Lakeshore Capital Group Inc. boosted its holdings in Comcast by 3.3% during the first quarter. Lakeshore Capital Group Inc. now owns 10,112 shares of the cable giant's stock worth $373,000 after purchasing an additional 319 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Stock Performance

Shares of CMCSA stock opened at $32.50 on Thursday. Comcast Corporation has a 12 month low of $31.44 and a 12 month high of $45.31. The firm has a market capitalization of $121.35 billion, a PE ratio of 7.99, a price-to-earnings-growth ratio of 1.59 and a beta of 0.95. The firm has a fifty day simple moving average of $34.86 and a two-hundred day simple moving average of $35.16. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.06.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.06%. The ex-dividend date was Wednesday, July 2nd. Comcast's dividend payout ratio (DPR) is presently 32.43%.

Analysts Set New Price Targets

CMCSA has been the subject of several analyst reports. Bernstein Bank decreased their target price on shares of Comcast from $38.00 to $37.00 and set a "market perform" rating for the company in a research note on Friday, April 25th. BNP Paribas cut shares of Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 target price on the stock. in a report on Thursday, April 10th. Arete Research raised Comcast to a "hold" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. cut their price objective on Comcast from $39.00 to $37.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Finally, TD Cowen decreased their target price on Comcast from $46.00 to $45.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average 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.

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