Comcast Corporation $CMCSA Position Trimmed by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc decreased its holdings in Comcast Corporation (NASDAQ:CMCSA) by 48.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,103 shares of the cable giant’s stock after selling 27,806 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Comcast were worth $914,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CMCSA. Vanguard Group Inc. raised its holdings in Comcast by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant’s stock worth $13,185,275,000 after buying an additional 1,257,196 shares during the period. State Street Corp increased its position in shares of Comcast by 2.5% in the second quarter. State Street Corp now owns 172,769,800 shares of the cable giant’s stock worth $6,166,154,000 after acquiring an additional 4,231,140 shares in the last quarter. Dodge & Cox increased its position in shares of Comcast by 18.1% in the second quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock worth $3,971,309,000 after acquiring an additional 17,054,579 shares in the last quarter. Norges Bank acquired a new stake in shares of Comcast during the second quarter valued at approximately $3,528,361,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Comcast by 7.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 36,154,170 shares of the cable giant’s stock valued at $1,289,984,000 after acquiring an additional 2,517,906 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Up 0.9%

Shares of Comcast stock opened at $31.63 on Tuesday. The firm has a market cap of $113.80 billion, a price-to-earnings ratio of 5.89, a P/E/G ratio of 2.44 and a beta of 0.81. The stock has a 50-day simple moving average of $29.78 and a 200-day simple moving average of $30.03. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $37.97. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The firm had revenue of $32.31 billion during the quarter, compared to analysts’ expectations of $32.35 billion. Comcast had a net margin of 16.17% and a return on equity of 16.86%. Comcast’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.96 earnings per share. On average, equities research analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be paid a $0.33 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. Comcast’s dividend payout ratio is currently 24.58%.

Insider Activity

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total value of $1,892,549.02. Following the sale, the chief executive officer owned 622,336 shares of the company’s stock, valued at $20,325,493.76. The trade was a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.32% of the company’s stock.

Analysts Set New Price Targets

CMCSA has been the topic of several recent analyst reports. Loop Capital cut their target price on shares of Comcast from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. KeyCorp downgraded Comcast from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 30th. The Goldman Sachs Group reissued a “neutral” rating and set a $30.00 price target (down from $39.00) on shares of Comcast in a research report on Friday, October 31st. Sanford C. Bernstein decreased their price objective on Comcast from $34.00 to $32.00 and set a “market perform” rating for the company in a research report on Thursday, January 15th. Finally, Moffett Nathanson lowered their target price on Comcast from $58.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $34.90.

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.