Concord Asset Management LLC VA Trims Position in Comcast Corporation $CMCSA

Concord Asset Management LLC VA decreased its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 49.0% during the third quarter, Holdings Channel reports. The institutional investor owned 36,199 shares of the cable giant’s stock after selling 34,751 shares during the period. Concord Asset Management LLC VA’s holdings in Comcast were worth $1,137,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Capital A Wealth Management LLC grew its position in shares of Comcast by 173.7% during the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock worth $25,000 after purchasing an additional 436 shares in the last quarter. Avalon Trust Co lifted its holdings in Comcast by 433.3% in the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after purchasing an additional 624 shares in the last quarter. Howard Hughes Medical Institute bought a new position in Comcast in the 2nd quarter worth approximately $29,000. Princeton Global Asset Management LLC grew its holdings in Comcast by 403.5% during the 2nd quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant’s stock valued at $31,000 after buying an additional 686 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Comcast during the second quarter valued at approximately $31,000. Institutional investors own 84.32% of the company’s stock.

Comcast Trading Up 1.7%

Shares of NASDAQ CMCSA opened at $31.37 on Friday. Comcast Corporation has a 1-year low of $25.75 and a 1-year high of $37.97. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. The business’s 50 day moving average is $28.79 and its two-hundred day moving average is $30.21. The stock has a market capitalization of $114.31 billion, a P/E ratio of 5.84, a PEG ratio of 2.35 and a beta of 0.81.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The firm had revenue of $32.31 billion during the quarter, compared to analysts’ expectations of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 EPS. As a group, research analysts expect that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $1.32 annualized dividend and a yield of 4.2%. Comcast’s dividend payout ratio (DPR) is presently 24.58%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Pivotal Research cut shares of Comcast from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. cut their price objective on Comcast from $38.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. BNP Paribas Exane reaffirmed a “neutral” rating on shares of Comcast in a report on Tuesday, January 27th. UBS Group dropped their price target on Comcast from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, January 30th. Finally, Citigroup reaffirmed a “buy” rating and issued a $33.00 price objective (up previously from $32.79) on shares of Comcast in a research note on Friday, January 30th. Ten equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Comcast currently has a consensus rating of “Hold” and an average price target of $34.90.

Comcast Company 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.