Concord Wealth Partners Sells 29,609 Shares of Comcast Corporation $CMCSA

Concord Wealth Partners reduced its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 41.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,341 shares of the cable giant’s stock after selling 29,609 shares during the quarter. Concord Wealth Partners’ holdings in Comcast were worth $1,299,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its position in Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock valued at $6,240,000 after purchasing an additional 99,986 shares during the last quarter. Voya Financial Advisors Inc. raised its holdings in Comcast by 3.2% during the 2nd quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock valued at $2,963,000 after buying an additional 2,593 shares during the last quarter. Clear Creek Financial Management LLC boosted its position in Comcast by 6.0% during the 2nd quarter. Clear Creek Financial Management LLC now owns 21,671 shares of the cable giant’s stock valued at $773,000 after buying an additional 1,222 shares during the period. Optas LLC grew its holdings in Comcast by 10.6% in the 2nd quarter. Optas LLC now owns 13,128 shares of the cable giant’s stock worth $469,000 after acquiring an additional 1,253 shares during the last quarter. Finally, Maryland State Retirement & Pension System increased its position in shares of Comcast by 2.5% in the second quarter. Maryland State Retirement & Pension System now owns 180,017 shares of the cable giant’s stock valued at $6,425,000 after acquiring an additional 4,383 shares during the period. Institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

CMCSA opened at $31.37 on Friday. 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 $114.31 billion, a price-to-earnings ratio of 5.84, a price-to-earnings-growth ratio of 2.35 and a beta of 0.81. The stock has a fifty day simple moving average of $28.79 and a two-hundred day simple moving average of $30.21. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $37.97.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The firm had revenue of $32.31 billion for the quarter, compared to the consensus estimate of $32.35 billion. During the same period in the prior year, the firm earned $0.96 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. Research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio (DPR) is presently 24.58%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Morgan Stanley dropped their target price on shares of Comcast from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, December 10th. Royal Bank Of Canada dropped their price objective on Comcast from $32.00 to $31.00 and set a “sector perform” rating for the company in a report on Friday, January 16th. Rosenblatt Securities reissued a “neutral” rating and set a $30.00 target price on shares of Comcast in a research note on Friday, January 30th. Evercore decreased their target price on Comcast from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Comcast in a report on Friday, January 9th. Ten research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $34.90.

Comcast 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.