Comcast Corporation $CMCSA Position Decreased by FRG Family Wealth Advisors LLC

by · The Cerbat Gem

FRG Family Wealth Advisors LLC cut its position in shares of Comcast Corporation (NASDAQ:CMCSA – Free Report) by 16.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,826 shares of the cable giant’s stock after selling 1,560 shares during the quarter. FRG Family Wealth Advisors LLC’s holdings in Comcast were worth $289,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Second Line Capital LLC purchased a new stake in Comcast during the first quarter valued at about $215,000. Harber Asset Management LLC purchased a new stake in shares of Comcast in the first quarter worth approximately $16,550,000. Mubadala Investment Co PJSC purchased a new stake in shares of Comcast in the first quarter worth approximately $3,859,000. Vident Advisory LLC increased its holdings in Comcast by 22.8% in the first quarter. Vident Advisory LLC now owns 119,923 shares of the cable giant’s stock worth $4,425,000 after buying an additional 22,235 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Comcast by 76.6% in the first quarter. The Manufacturers Life Insurance Company now owns 9,440,738 shares of the cable giant’s stock worth $348,363,000 after buying an additional 4,096,382 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Stock Up 1.2%

CMCSA opened at $33.97 on Friday. The firm’s 50-day simple moving average is $34.14 and its 200-day simple moving average is $34.74. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. Comcast Corporation has a twelve month low of $31.03 and a twelve month high of $45.31. The firm has a market cap of $125.42 billion, a price-to-earnings ratio of 5.61, a PEG ratio of 2.01 and a beta of 0.92.

Comcast (NASDAQ:CMCSA – Get Free Report) last announced its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The company had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. During the same period last year, the company posted $1.21 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s dividend payout ratio is presently 21.82%.

Wall Street Analyst Weigh In

CMCSA has been the topic of a number of research reports. Scotiabank increased their price objective on Comcast from $44.50 to $45.00 and gave the stock a “sector perform” rating in a report on Friday, July 11th. Barclays lowered their price target on Comcast from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, August 1st. Rothschild & Co Redburn lowered their price target on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Argus downgraded shares of Comcast from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Finally, Morgan Stanley lowered their price objective on shares of Comcast from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $40.73.

View Our Latest Analysis on CMCSA

About Comcast

(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.

Further Reading

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