Wrapmanager Inc. Trims Stake in Comcast Co. (NASDAQ:CMCSA)

Wrapmanager Inc. decreased its position in shares of Comcast Co. (NASDAQ:CMCSA) by 57.2% during the third quarter, Holdings Channel reports. The fund owned 21,961 shares of the cable giant’s stock after selling 29,342 shares during the period. Wrapmanager Inc.’s holdings in Comcast were worth $917,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CMCSA. Fairscale Capital LLC purchased a new stake in shares of Comcast in the 2nd quarter worth approximately $26,000. McClarren Financial Advisors Inc. boosted its stake in Comcast by 365.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 570 shares during the last quarter. Iron Horse Wealth Management LLC boosted its stake in Comcast by 220.3% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock valued at $32,000 after purchasing an additional 522 shares during the last quarter. IAG Wealth Partners LLC boosted its stake in Comcast by 204.7% during the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 522 shares during the last quarter. Finally, Archer Investment Corp boosted its stake in Comcast by 177.1% during the 2nd quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock valued at $32,000 after purchasing an additional 519 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on CMCSA shares. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 target price on shares of Comcast in a research note on Wednesday, November 6th. Benchmark reiterated a “buy” rating and set a $55.00 target price on shares of Comcast in a research note on Wednesday, October 30th. Scotiabank raised Comcast from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $47.75 to $48.00 in a report on Friday, November 1st. TD Cowen lowered their price target on Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Barclays increased their price target on Comcast from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Comcast presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.88.

Comcast Price Performance

NASDAQ:CMCSA opened at $43.00 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. The business’s 50-day simple moving average is $41.67 and its two-hundred day simple moving average is $39.93. The stock has a market cap of $164.54 billion, a PE ratio of 11.56, a P/E/G ratio of 1.63 and a beta of 1.00. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $32.07 billion for the quarter, compared to analysts’ expectations of $31.78 billion. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $1.08 earnings per share. As a group, analysts forecast that Comcast Co. will post 4.25 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be given a dividend of $0.31 per share. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.88%. Comcast’s payout ratio is 33.33%.

Comcast Company Profile

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.