Comcast Co. (NASDAQ:CMCSA) Shares Sold by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC lessened its holdings in Comcast Co. (NASDAQ:CMCSAFree Report) by 6.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 12,719 shares of the cable giant’s stock after selling 949 shares during the period. Palumbo Wealth Management LLC’s holdings in Comcast were worth $558,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CMCSA. Ironwood Wealth Management LLC. lifted its stake in Comcast by 2.4% during the 1st quarter. Ironwood Wealth Management LLC. now owns 15,458 shares of the cable giant’s stock worth $724,000 after acquiring an additional 363 shares in the last quarter. United Bank lifted its position in shares of Comcast by 17.4% during the first quarter. United Bank now owns 37,271 shares of the cable giant’s stock worth $1,745,000 after purchasing an additional 5,532 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Comcast by 29.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,063,697 shares of the cable giant’s stock valued at $190,261,000 after purchasing an additional 928,627 shares during the period. Covestor Ltd grew its holdings in shares of Comcast by 104.4% in the first quarter. Covestor Ltd now owns 3,472 shares of the cable giant’s stock valued at $163,000 after purchasing an additional 1,773 shares in the last quarter. Finally, First Western Trust Bank purchased a new stake in Comcast during the 1st quarter worth approximately $482,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on CMCSA shares. Citigroup increased their price objective on Comcast from $51.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Wells Fargo & Company increased their price target on Comcast from $45.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. Pivotal Research boosted their price objective on Comcast from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, December 13th. Evercore ISI restated an “outperform” rating and set a $50.00 target price on shares of Comcast in a research note on Tuesday, March 26th. Finally, Redburn Atlantic downgraded shares of Comcast from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $50.00 to $44.00 in a research note on Thursday, February 15th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.68.

Read Our Latest Stock Report on CMCSA

Insider Activity

In related news, President Michael J. Cavanagh sold 114,749 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $46.10, for a total value of $5,289,928.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.18% of the company’s stock.

Comcast Stock Down 2.5 %

Comcast stock opened at $42.28 on Tuesday. The stock’s 50 day moving average price is $43.08 and its 200 day moving average price is $43.16. Comcast Co. has a 1-year low of $36.38 and a 1-year high of $47.46. The company has a market cap of $167.93 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 1.00 and a beta of 0.98. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.60 and a quick ratio of 0.60.

Comcast (NASDAQ:CMCSAGet Free Report) last issued its earnings results on Thursday, January 25th. The cable giant reported $0.84 EPS for the quarter, topping the consensus estimate of $0.80 by $0.04. The company had revenue of $31.25 billion for the quarter, compared to analyst estimates of $30.41 billion. Comcast had a net margin of 12.66% and a return on equity of 19.75%. On average, sell-side analysts predict that Comcast Co. will post 4.25 EPS for the current fiscal year.

Comcast Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 3rd will be issued a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, April 2nd. This is a boost from Comcast’s previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a yield of 2.93%. Comcast’s dividend payout ratio (DPR) is 31.18%.

Comcast Company 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.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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