NewEdge Wealth LLC Sells 15,784 Shares of Comcast Co. (NASDAQ:CMCSA)

NewEdge Wealth LLC lessened its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 12.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 108,805 shares of the cable giant’s stock after selling 15,784 shares during the period. NewEdge Wealth LLC’s holdings in Comcast were worth $4,083,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CMCSA. Taurus Asset Management LLC grew its stake in shares of Comcast by 2.9% in the 3rd quarter. Taurus Asset Management LLC now owns 9,125 shares of the cable giant’s stock valued at $381,000 after buying an additional 253 shares during the period. Arvest Investments Inc. grew its stake in shares of Comcast by 1.0% in the 3rd quarter. Arvest Investments Inc. now owns 27,211 shares of the cable giant’s stock valued at $1,137,000 after buying an additional 268 shares during the period. McIlrath & Eck LLC grew its stake in shares of Comcast by 14.8% in the 3rd quarter. McIlrath & Eck LLC now owns 2,183 shares of the cable giant’s stock valued at $91,000 after buying an additional 282 shares during the period. Mengis Capital Management Inc. grew its stake in shares of Comcast by 1.5% in the 3rd quarter. Mengis Capital Management Inc. now owns 19,060 shares of the cable giant’s stock valued at $796,000 after buying an additional 283 shares during the period. Finally, Dunhill Financial LLC grew its stake in shares of Comcast by 54.8% in the 3rd quarter. Dunhill Financial LLC now owns 814 shares of the cable giant’s stock valued at $34,000 after buying an additional 288 shares during the period. Institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CMCSA shares. Citigroup reduced their target price on Comcast from $47.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft lifted their price target on Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com upgraded Comcast from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Sanford C. Bernstein set a $38.00 price target on shares of Comcast in a report on Friday, January 31st. Finally, The Goldman Sachs Group lowered their price target on shares of Comcast from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Comcast presently has an average rating of “Moderate Buy” and an average target price of $43.83.

Comcast Stock Up 0.8 %

CMCSA opened at $35.39 on Friday. The company has a fifty day moving average price of $36.37 and a 200-day moving average price of $39.49. The firm has a market capitalization of $133.81 billion, a P/E ratio of 8.53, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.68. Comcast Co. has a one year low of $32.50 and a one year high of $45.31.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, January 30th. The cable giant reported $0.96 EPS 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%. Equities 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 declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 2nd will be given a dividend of $0.33 per share. This is a positive change from Comcast’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Wednesday, April 2nd. Comcast’s payout ratio is 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.