Capital Asset Advisory Services LLC decreased its stake in Comcast Co. (NASDAQ:CMCSA – Get Rating) by 23.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,996 shares of the cable giant’s stock after selling 7,738 shares during the period. Capital Asset Advisory Services LLC’s holdings in Comcast were worth $1,258,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of CMCSA. Gyroscope Capital Management Group LLC increased its holdings in shares of Comcast by 3.7% during the fourth quarter. Gyroscope Capital Management Group LLC now owns 143,653 shares of the cable giant’s stock worth $7,230,000 after buying an additional 5,164 shares in the last quarter. First Long Island Investors LLC grew its stake in shares of Comcast by 7.2% during the fourth quarter. First Long Island Investors LLC now owns 849,338 shares of the cable giant’s stock valued at $42,747,000 after purchasing an additional 57,209 shares during the last quarter. Abbrea Capital LLC grew its stake in shares of Comcast by 0.5% during the fourth quarter. Abbrea Capital LLC now owns 44,236 shares of the cable giant’s stock valued at $2,226,000 after purchasing an additional 208 shares during the last quarter. Axiom Financial Strategies LLC grew its stake in shares of Comcast by 6.8% during the fourth quarter. Axiom Financial Strategies LLC now owns 4,389 shares of the cable giant’s stock valued at $221,000 after purchasing an additional 279 shares during the last quarter. Finally, St. James Investment Advisors LLC bought a new stake in shares of Comcast during the fourth quarter valued at approximately $3,649,000. 82.58% of the stock is owned by hedge funds and other institutional investors.
In other Comcast news, CEO David N. Watson sold 65,410 shares of the business’s stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $45.69, for a total transaction of $2,988,582.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.04% of the company’s stock.
Comcast (NASDAQ:CMCSA – Get Rating) last posted its quarterly earnings data on Thursday, January 27th. The cable giant reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Comcast had a net margin of 12.17% and a return on equity of 15.61%. The business had revenue of $30.34 billion during the quarter, compared to analysts’ expectations of $29.63 billion. During the same quarter in the prior year, the business posted $0.56 earnings per share. Comcast’s revenue was up 9.5% compared to the same quarter last year. Sell-side analysts anticipate that Comcast Co. will post 3.52 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 27th. Investors of record on Wednesday, April 6th will be given a dividend of $0.27 per share. This is a boost from Comcast’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, April 5th. This represents a $1.08 annualized dividend and a yield of 2.31%. Comcast’s dividend payout ratio is currently 35.64%.
CMCSA has been the topic of a number of recent research reports. Truist Financial cut shares of Comcast from a “buy” rating to a “hold” rating and reduced their price objective for the company from $70.00 to $50.00 in a research note on Tuesday, March 1st. Morgan Stanley cut their price objective on shares of Comcast from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, January 28th. Barclays dropped their price target on Comcast from $60.00 to $56.00 and set an “overweight” rating on the stock in a research note on Friday, January 28th. Cowen increased their price objective on Comcast from $60.00 to $64.00 in a report on Friday, January 28th. Finally, Oppenheimer reduced their target price on shares of Comcast from $75.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Comcast currently has a consensus rating of “Buy” and an average price target of $61.88.
Comcast Company Profile (Get Rating)
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.
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