Comcast Co. (NASDAQ:CMCSA) Stake Cut by Opal Wealth Advisors LLC

Opal Wealth Advisors LLC cut its position in shares of Comcast Co. (NASDAQ:CMCSAFree Report) by 24.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,837 shares of the cable giant’s stock after selling 3,168 shares during the period. Opal Wealth Advisors LLC’s holdings in Comcast were worth $426,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CMCSA. Norges Bank acquired a new position in shares of Comcast during the 4th quarter valued at about $2,542,988,000. Capital World Investors grew its holdings in Comcast by 17.0% in the 4th quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock valued at $4,725,926,000 after buying an additional 15,625,543 shares during the last quarter. Morningstar Investment Services LLC grew its holdings in Comcast by 116.8% in the 4th quarter. Morningstar Investment Services LLC now owns 5,145,838 shares of the cable giant’s stock valued at $227,034,000 after buying an additional 2,772,190 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Comcast by 215.7% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,622,246 shares of the cable giant’s stock valued at $158,835,000 after buying an additional 2,474,946 shares during the last quarter. Finally, Pathstone Holdings LLC acquired a new stake in shares of Comcast during the 4th quarter worth approximately $108,332,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Corp Comcast sold 3,176,923 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 2,000,000 shares in the company, valued at $6,380,000. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.26% of the company’s stock.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several recent research reports. Benchmark reissued a “buy” rating and set a $55.00 price objective on shares of Comcast in a report on Monday, May 13th. Evercore ISI restated an “outperform” rating and set a $50.00 target price on shares of Comcast in a research report on Tuesday, March 26th. Macquarie cut their target price on Comcast from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Scotiabank cut their target price on Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a research report on Friday, April 26th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Comcast from $55.00 to $53.00 in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.83.

View Our Latest Stock Report on CMCSA

Comcast Trading Up 1.7 %

Shares of Comcast stock traded up $0.63 during trading on Friday, reaching $38.48. 49,147,049 shares of the company were exchanged, compared to its average volume of 16,946,228. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.46. The business has a 50-day moving average price of $38.81 and a 200-day moving average price of $41.52. The firm has a market capitalization of $150.98 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 0.95 and a beta of 1.00.

Comcast (NASDAQ:CMCSAGet Free Report) last posted its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The firm had revenue of $30.06 billion during the quarter, compared to analysts’ expectations of $29.83 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. Sell-side analysts anticipate that Comcast Co. will post 4.21 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 3rd will be issued a $0.31 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.22%. Comcast’s dividend payout ratio (DPR) is 32.80%.

Comcast Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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