414,835 Comcast Corporation $CMCSA Shares Sold by ProVise Management Group LLC

ProVise Management Group LLC lowered its stake in Comcast Corporation (NASDAQ:CMCSA) by 88.9% in the third quarter, Holdings Channel reports. The fund owned 51,631 shares of the cable giant’s stock after selling 414,835 shares during the quarter. ProVise Management Group LLC’s holdings in Comcast were worth $1,123,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CMCSA. Moors & Cabot Inc. grew its stake in shares of Comcast by 2.3% during the third quarter. Moors & Cabot Inc. now owns 29,515 shares of the cable giant’s stock worth $642,000 after buying an additional 657 shares during the last quarter. Money Concepts Capital Corp lifted its stake in shares of Comcast by 2.0% in the 3rd quarter. Money Concepts Capital Corp now owns 162,791 shares of the cable giant’s stock valued at $3,542,000 after acquiring an additional 3,117 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Comcast by 220.6% in the 3rd quarter. Allworth Financial LP now owns 290,886 shares of the cable giant’s stock valued at $6,330,000 after acquiring an additional 200,156 shares during the last quarter. SVB Wealth LLC boosted its holdings in shares of Comcast by 37.7% during the 3rd quarter. SVB Wealth LLC now owns 49,652 shares of the cable giant’s stock valued at $1,080,000 after acquiring an additional 13,590 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. boosted its holdings in shares of Comcast by 0.4% during the 3rd quarter. Letko Brosseau & Associates Inc. now owns 3,474,936 shares of the cable giant’s stock valued at $75,615,000 after acquiring an additional 13,975 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Up 1.5%

CMCSA traded up $0.36 during midday trading on Friday, reaching $25.16. 18,357,156 shares of the company were exchanged, compared to its average volume of 31,862,212. The company has a market cap of $89.34 billion, a price-to-earnings ratio of 7.96, a price-to-earnings-growth ratio of 1.75 and a beta of 0.72. Comcast Corporation has a one year low of $20.48 and a one year high of $32.85. The company’s fifty day moving average price is $22.96 and its 200 day moving average price is $25.89. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.82 and a current ratio of 0.82.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.08. Comcast had a return on equity of 14.64% and a net margin of 9.20%. The company had revenue of $29.30 billion for the quarter, compared to analysts’ expectations of $29.22 billion. During the same quarter in the previous year, the firm earned $1.12 earnings per share. Comcast’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, analysts expect that Comcast Corporation will post 3.54 EPS for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 27th. Shareholders of record on Wednesday, January 6th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, January 6th. This represents a $1.32 annualized dividend and a yield of 5.2%. Comcast’s dividend payout ratio (DPR) is 41.77%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CMCSA. The Goldman Sachs Group restated a “neutral” rating and set a $23.00 price objective on shares of Comcast in a research report on Thursday, October 22nd. Scotiabank dropped their target price on shares of Comcast from $29.00 to $27.50 and set a “sector perform” rating on the stock in a report on Friday, October 2nd. Wells Fargo & Company set a $23.00 price target on Comcast and gave the stock an “underweight” rating in a report on Friday, July 24th. Zacks Research downgraded Comcast from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. Finally, Bank of America restated a “buy” rating and set a $35.00 price objective (down from $37.00) on shares of Comcast in a report on Wednesday, September 16th. Ten analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $28.77.

Comcast Profile

Comcast Corporation is a media and telecommunications company whose businesses include broadband, cable television, wireless and voice services, as well as entertainment, news and theme parks. Its Xfinity brand offers residential and business connectivity and entertainment services in the United States. Through NBCUniversal, Comcast operates the NBC broadcast network, cable channels, the Peacock streaming service, Universal Pictures and Universal theme parks. The company also owns Sky, which provides television, broadband and related services in the United Kingdom and other European markets.