Florida Trust Wealth Management Co Decreases Stake in Comcast Corporation $CMCSA

Florida Trust Wealth Management Co reduced its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 27.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 140,697 shares of the cable giant’s stock after selling 53,397 shares during the period. Florida Trust Wealth Management Co’s holdings in Comcast were worth $4,421,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Foster Group Inc. increased its stake in shares of Comcast by 4.0% during the 2nd quarter. Foster Group Inc. now owns 7,418 shares of the cable giant’s stock valued at $265,000 after acquiring an additional 282 shares during the last quarter. Argyle Capital Management LLC grew its stake in Comcast by 0.5% during the second quarter. Argyle Capital Management LLC now owns 61,186 shares of the cable giant’s stock worth $2,184,000 after buying an additional 300 shares during the period. Cape Investment Advisory Inc. raised its stake in shares of Comcast by 2.6% in the 2nd quarter. Cape Investment Advisory Inc. now owns 12,275 shares of the cable giant’s stock valued at $438,000 after acquiring an additional 307 shares during the period. Coign Capital Advisors LLC lifted its holdings in shares of Comcast by 2.1% during the 2nd quarter. Coign Capital Advisors LLC now owns 15,919 shares of the cable giant’s stock valued at $568,000 after acquiring an additional 324 shares in the last quarter. Finally, Live Oak Investment Partners boosted its position in Comcast by 1.2% during the 2nd quarter. Live Oak Investment Partners now owns 28,392 shares of the cable giant’s stock worth $1,013,000 after purchasing an additional 328 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Performance

Shares of CMCSA opened at $27.82 on Tuesday. The firm has a market cap of $101.37 billion, a price-to-earnings ratio of 4.63, a PEG ratio of 1.98 and a beta of 0.81. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The business’s 50 day moving average is $28.11 and its two-hundred day moving average is $30.70. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $38.40.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, October 30th. The cable giant reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. The business had revenue of $31.20 billion during the quarter, compared to the consensus estimate of $30.74 billion. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 earnings per share. Analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 14th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Wednesday, January 14th. Comcast’s dividend payout ratio is 21.96%.

Wall Street Analyst Weigh In

CMCSA has been the topic of several research reports. Royal Bank Of Canada cut their price objective on Comcast from $32.00 to $31.00 and set a “sector perform” rating on the stock in a research report on Friday. The Goldman Sachs Group reiterated a “neutral” rating and set a $30.00 target price (down from $39.00) on shares of Comcast in a report on Friday, October 31st. Pivotal Research reduced their price target on Comcast from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. KeyCorp downgraded shares of Comcast from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 30th. Finally, Moffett Nathanson reduced their target price on shares of Comcast from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Twelve research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $34.89.

Comcast Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.