FORVIS Wealth Advisors LLC Reduces Stock Position in Comcast Co. (NASDAQ:CMCSA)

FORVIS Wealth Advisors LLC trimmed its position in Comcast Co. (NASDAQ:CMCSA) by 1.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,022 shares of the cable giant’s stock after selling 268 shares during the period. FORVIS Wealth Advisors LLC’s holdings in Comcast were worth $1,041,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CMCSA. JT Stratford LLC boosted its holdings in shares of Comcast by 10.6% during the third quarter. JT Stratford LLC now owns 19,818 shares of the cable giant’s stock worth $879,000 after purchasing an additional 1,905 shares during the last quarter. Royal London Asset Management Ltd. grew its holdings in Comcast by 5.1% in the 3rd quarter. Royal London Asset Management Ltd. now owns 1,745,625 shares of the cable giant’s stock valued at $77,410,000 after buying an additional 84,421 shares during the period. Cito Capital Group LLC increased its stake in shares of Comcast by 1.3% during the 3rd quarter. Cito Capital Group LLC now owns 55,870 shares of the cable giant’s stock valued at $2,477,000 after acquiring an additional 700 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Comcast during the 3rd quarter worth about $895,000. Finally, Crestwood Advisors Group LLC boosted its position in shares of Comcast by 1,598.4% in the third quarter. Crestwood Advisors Group LLC now owns 264,722 shares of the cable giant’s stock worth $11,738,000 after acquiring an additional 249,135 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Corp Comcast sold 3,176,923 shares of Comcast stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total value of $10,134,384.37. Following the completion of the transaction, the insider now owns 2,000,000 shares in the company, valued at approximately $6,380,000. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.26% of the company’s stock.

Comcast Stock Up 0.5 %

NASDAQ CMCSA traded up $0.20 during mid-day trading on Thursday, reaching $38.05. 7,657,993 shares of the company’s stock traded hands, compared to its average volume of 20,241,990. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.13. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.46. The company has a fifty day simple moving average of $38.58 and a 200-day simple moving average of $41.26. The company has a market cap of $149.29 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 0.95 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. The business had revenue of $30.06 billion during the quarter, compared to the consensus estimate of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 earnings per share. As a group, equities research analysts expect that Comcast Co. will post 4.22 EPS for the current year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 3rd will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Wednesday, July 3rd. Comcast’s payout ratio is currently 32.80%.

Analyst Ratings Changes

CMCSA has been the topic of a number of recent analyst reports. Seaport Res Ptn downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. Wells Fargo & Company reduced their target price on Comcast from $47.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Citigroup dropped their price target on Comcast from $53.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Scotiabank reduced their price objective on Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a research note on Friday, April 26th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $45.00 target price on shares of Comcast in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $48.53.

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.