Legacy Financial Advisors Inc. Sells 662 Shares of Comcast Co. (NASDAQ:CMCSA)

Legacy Financial Advisors Inc. reduced its stake in Comcast Co. (NASDAQ:CMCSA) by 1.5% during the 4th quarter, HoldingsChannel reports. The fund owned 44,755 shares of the cable giant’s stock after selling 662 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Comcast were worth $1,680,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new position in Comcast in the 4th quarter valued at about $3,835,226,000. Geode Capital Management LLC lifted its stake in Comcast by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant’s stock valued at $3,212,244,000 after purchasing an additional 1,006,272 shares during the last quarter. Invesco Ltd. lifted its stake in Comcast by 11.5% in the 4th quarter. Invesco Ltd. now owns 45,175,969 shares of the cable giant’s stock valued at $1,695,454,000 after purchasing an additional 4,669,069 shares during the last quarter. First Eagle Investment Management LLC raised its stake in shares of Comcast by 7.1% during the fourth quarter. First Eagle Investment Management LLC now owns 34,101,077 shares of the cable giant’s stock valued at $1,279,813,000 after acquiring an additional 2,270,186 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Comcast by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 32,709,601 shares of the cable giant’s stock valued at $1,227,591,000 after acquiring an additional 838,366 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CMCSA has been the subject of several recent analyst reports. Benchmark decreased their price objective on shares of Comcast from $57.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Citigroup decreased their price objective on shares of Comcast from $47.00 to $44.00 and set a “buy” rating for the company in a research report on Friday, January 31st. BNP Paribas upgraded shares of Comcast from an “underperform” rating to a “neutral” rating and set a $35.00 price target for the company in a report on Friday, January 31st. Sanford C. Bernstein set a $38.00 price target on shares of Comcast in a report on Friday, January 31st. Finally, Wells Fargo & Company reduced their price target on shares of Comcast from $45.00 to $37.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Comcast currently has an average rating of “Moderate Buy” and an average price target of $43.10.

Comcast Stock Up 7.1 %

CMCSA opened at $35.18 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.68. The company’s 50-day moving average is $35.55 and its 200 day moving average is $38.66. Comcast Co. has a fifty-two week low of $32.20 and a fifty-two week high of $45.31. The firm has a market capitalization of $133.02 billion, a P/E ratio of 8.48, a PEG ratio of 1.78 and a beta of 0.94.

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

Comcast Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 2nd will be given a $0.33 dividend. This is a positive change from Comcast’s previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, April 2nd. This represents a $1.32 annualized dividend and a yield of 3.75%. Comcast’s payout ratio is currently 31.81%.

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.