RWA Wealth Partners LLC Cuts Holdings in Comcast Corporation $CMCSA

Key Points

• RWA Wealth Partners LLC reduced its stake in Comcast Corporation by 30.6%, resulting in holdings worth approximately $1.97 million after selling over 23,000 shares in the first quarter.
• Comcast announced a quarterly dividend of $0.33 per share, with a dividend yield of 3.9%, set to be paid on October 22nd to stockholders of record by October 1st.
• The stock currently has an average rating of "Hold" with a target price of $40.73, following mixed ratings and price target adjustments from various analysts.

RWA Wealth Partners LLC trimmed its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 30.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,365 shares of the cable giant's stock after selling 23,534 shares during the period. RWA Wealth Partners LLC's holdings in Comcast were worth $1,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Inlight Wealth Management LLC purchased a new stake in Comcast during the 1st quarter worth about $26,000. Abound Financial LLC purchased a new stake in Comcast during the 1st quarter worth about $29,000. Retirement Wealth Solutions LLC lifted its holdings in Comcast by 126.9% during the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after buying an additional 448 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in Comcast during the 4th quarter worth about $33,000. Finally, Global Wealth Strategies & Associates lifted its holdings in shares of Comcast by 203.4% in the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after purchasing an additional 600 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CMCSA has been the subject of a number of research analyst reports. Argus cut Comcast from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Benchmark reissued a "buy" rating on shares of Comcast in a research report on Friday, July 18th. UBS Group decreased their target price on Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday, August 1st. Barclays decreased their target price on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Finally, Scotiabank upped their target price on Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $40.73.

Comcast Stock Performance

CMCSA traded down $0.2040 on Monday, hitting $33.9460. 3,208,155 shares of the company traded hands, compared to its average volume of 24,148,906. The company has a 50 day moving average of $34.21 and a 200-day moving average of $34.77. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $125.34 billion, a PE ratio of 5.61, a PEG ratio of 2.05 and a beta of 0.92. Comcast Corporation has a 12-month low of $31.03 and a 12-month high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. The firm had revenue of $30.31 billion during 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 firm's revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.21 EPS. Sell-side analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's dividend payout ratio is 21.82%.

About Comcast

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.