Valley National Advisers Inc. Trims Stock Position in Comcast Corporation (NASDAQ:CMCSA)

Valley National Advisers Inc. lessened its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 29.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,314 shares of the cable giant's stock after selling 19,920 shares during the period. Valley National Advisers Inc.'s holdings in Comcast were worth $1,745,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CMCSA. Promus Capital LLC acquired a new stake in shares of Comcast in the fourth quarter worth $25,000. Inlight Wealth Management LLC acquired a new position in Comcast during the first quarter worth $26,000. Retirement Wealth Solutions LLC grew its stake in shares of Comcast by 126.9% during the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock valued at $30,000 after purchasing an additional 448 shares during the last quarter. Mpwm Advisory Solutions LLC acquired a new stake in shares of Comcast in the 4th quarter valued at $33,000. Finally, Global Wealth Strategies & Associates increased its position in Comcast by 203.4% in the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock worth $33,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 84.32% of the company's stock.

Analyst Ratings Changes

CMCSA has been the topic of a number of research analyst reports. KeyCorp dropped their price objective on shares of Comcast from $47.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Scotiabank reaffirmed a "sector perform" rating and set a $44.50 target price (down previously from $45.00) on shares of Comcast in a report on Friday, April 25th. Oppenheimer cut their price objective on shares of Comcast from $55.00 to $38.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. UBS Group set a $44.50 target price on Comcast in a research note on Friday, April 25th. Finally, Wells Fargo & Company downgraded Comcast from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $37.00 to $31.00 in a report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $42.10.

Comcast Trading Down 0.1%

CMCSA stock traded down $0.05 during mid-day trading on Wednesday, reaching $35.96. The company had a trading volume of 11,354,379 shares, compared to its average volume of 21,937,316. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $134.25 billion, a PE ratio of 8.83, a price-to-earnings-growth ratio of 1.73 and a beta of 0.95. The firm has a 50 day moving average of $34.69 and a 200 day moving average of $35.56. Comcast Corporation has a 12 month low of $31.44 and a 12 month high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.08. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The firm had revenue of $29.89 billion during the quarter, compared to analysts' expectations of $29.82 billion. During the same quarter in the prior year, the company earned $1.04 EPS. The company's revenue was down .6% compared to the same quarter last year. On average, equities 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, July 23rd. Shareholders of record on Wednesday, July 2nd will be issued a $0.33 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.67%. Comcast's dividend payout ratio is currently 32.43%.

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.