Envestnet Portfolio Solutions Inc. Decreases Stake in Comcast Corporation $CMCSA

Envestnet Portfolio Solutions Inc. cut its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 16.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 288,930 shares of the cable giant’s stock after selling 56,080 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Comcast were worth $9,078,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas lifted its stake in shares of Comcast by 5.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 2,105,834 shares of the cable giant’s stock valued at $66,165,000 after buying an additional 109,110 shares in the last quarter. UNIVEST FINANCIAL Corp raised its holdings in Comcast by 1.2% during the 3rd quarter. UNIVEST FINANCIAL Corp now owns 52,776 shares of the cable giant’s stock valued at $1,658,000 after acquiring an additional 634 shares during the period. MOKAN Wealth Management Inc. bought a new stake in Comcast during the 3rd quarter valued at $672,000. iA Global Asset Management Inc. lifted its position in shares of Comcast by 28.7% during the third quarter. iA Global Asset Management Inc. now owns 710,922 shares of the cable giant’s stock worth $22,337,000 after acquiring an additional 158,469 shares in the last quarter. Finally, Strs Ohio boosted its holdings in shares of Comcast by 13.7% in the third quarter. Strs Ohio now owns 2,217,570 shares of the cable giant’s stock worth $69,676,000 after acquiring an additional 266,599 shares during the period. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of CMCSA opened at $29.30 on Friday. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $38.40. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The company has a market cap of $106.77 billion, a PE ratio of 4.88, a price-to-earnings-growth ratio of 2.06 and a beta of 0.81. The stock has a 50-day moving average price of $28.21 and a 200-day moving average price of $30.58.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 30th. The cable giant reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The business had revenue of $31.20 billion for the quarter, compared to the consensus estimate of $30.74 billion. During the same period last year, the firm posted $1.12 earnings per share. Comcast’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, equities analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 14th will be given a $0.33 dividend. The ex-dividend date is Wednesday, January 14th. This represents a $1.32 annualized dividend and a yield of 4.5%. Comcast’s payout ratio is 21.96%.

Wall Street Analyst Weigh In

CMCSA has been the topic of a number of analyst reports. UBS Group set a $37.00 price objective on Comcast in a research note on Monday, January 12th. Daiwa Capital Markets reduced their target price on Comcast from $38.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, November 18th. Royal Bank Of Canada lowered their price target on shares of Comcast from $32.00 to $31.00 and set a “sector perform” rating on the stock in a report on Friday, January 16th. Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a research report on Friday, January 9th. Finally, Citigroup decreased their target price on shares of Comcast from $39.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Eleven investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Comcast presently has an average rating of “Hold” and an average price target of $35.53.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.