Comcast Co. (NASDAQ:CMCSA) Stock Position Lowered by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC lessened its position in Comcast Co. (NASDAQ:CMCSA) by 36.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,160 shares of the cable giant’s stock after selling 27,584 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Comcast were worth $1,807,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in Comcast in the 3rd quarter worth about $44,000. Portside Wealth Group LLC increased its stake in Comcast by 14.2% in the 3rd quarter. Portside Wealth Group LLC now owns 25,968 shares of the cable giant’s stock worth $1,085,000 after purchasing an additional 3,225 shares in the last quarter. Hollencrest Capital Management grew its stake in Comcast by 27.9% during the 3rd quarter. Hollencrest Capital Management now owns 1,649 shares of the cable giant’s stock valued at $69,000 after acquiring an additional 360 shares in the last quarter. Fiera Capital Corp grew its stake in Comcast by 7.3% during the 3rd quarter. Fiera Capital Corp now owns 95,192 shares of the cable giant’s stock valued at $3,976,000 after acquiring an additional 6,469 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new position in Comcast during the 3rd quarter valued at about $9,445,000. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Up 3.6 %

Shares of NASDAQ CMCSA opened at $37.59 on Friday. The firm’s 50-day simple moving average is $36.12 and its 200 day simple moving average is $39.35. The company has a market cap of $142.13 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09. Comcast Co. has a 12-month low of $32.50 and a 12-month high of $45.31.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, January 30th. The cable giant reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. On average, research analysts expect that Comcast Co. will post 4.33 earnings per share for the current fiscal year.

Comcast Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 2nd will be issued a dividend of $0.33 per share. This is a boost from Comcast’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Wednesday, April 2nd. Comcast’s payout ratio is currently 31.81%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. The Goldman Sachs Group lowered their target price on Comcast from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Macquarie reduced their price objective on Comcast from $42.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Loop Capital cut their price objective on shares of Comcast from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Morgan Stanley cut their price objective on shares of Comcast from $45.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Finally, Bank of America lowered shares of Comcast from a “buy” rating to a “neutral” rating and dropped their price target for the company from $50.00 to $38.00 in a research report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.83.

About Comcast

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.