Comcast Corporation $CMCSA Shares Sold by SVB Wealth LLC

Key Points

• SVB Wealth LLC has reduced its stake in Comcast Corporation by 23.8% during the first quarter, now holding shares valued at $4.70 million.
• Institutional investors own 84.32% of Comcast's stock, with multiple hedge funds increasing their holdings during the same period.
• Comcast recently declared a quarterly dividend of $0.33, representing a 3.9% yield, with a payout ratio of 21.82%.

SVB Wealth LLC trimmed its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 23.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 127,402 shares of the cable giant's stock after selling 39,831 shares during the quarter. SVB Wealth LLC's holdings in Comcast were worth $4,701,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Inlight Wealth Management LLC purchased a new stake in shares of Comcast during the first quarter worth about $26,000. Abound Financial LLC acquired a new stake in Comcast during the first quarter worth approximately $29,000. Retirement Wealth Solutions LLC grew its stake in Comcast by 126.9% in the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after acquiring an additional 448 shares during the period. Mpwm Advisory Solutions LLC acquired a new position in Comcast in the 4th quarter valued at $33,000. Finally, Global Wealth Strategies & Associates raised its holdings in 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 acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Analyst Ratings Changes

CMCSA has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price objective on Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a research report on Monday, August 4th. Rosenblatt Securities lifted their price target on Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Rothschild & Co Redburn cut their price objective on shares of Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Arete Research raised shares of Comcast to a "hold" rating in a research report on Tuesday, July 8th. Finally, Argus lowered shares of Comcast from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $40.73.

Comcast Stock Down 0.4%

Comcast stock traded down $0.14 during trading on Monday, reaching $34.01. 17,147,074 shares of the company's stock were exchanged, compared to its average volume of 23,977,274. Comcast Corporation has a 52-week low of $31.03 and a 52-week high of $45.31. The firm has a market cap of $125.57 billion, a price-to-earnings ratio of 5.62, a PEG ratio of 2.05 and a beta of 0.92. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The company's 50-day moving average is $34.19 and its two-hundred day moving average is $34.77.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The company had revenue of $30.31 billion for the quarter, compared to analysts' expectations of $29.81 billion. During the same quarter in the previous year, the firm posted $1.21 earnings per share. The firm's quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio is currently 21.82%.

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.