Comcast Corporation $CMCSA Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC decreased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,103,716 shares of the cable giant’s stock after selling 231,790 shares during the quarter. DAVENPORT & Co LLC owned about 0.11% of Comcast worth $114,912,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Capital A Wealth Management LLC grew its stake in Comcast by 173.7% during the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after acquiring an additional 436 shares in the last quarter. Imprint Wealth LLC purchased a new position in Comcast in the 3rd quarter worth approximately $26,000. United Financial Planning Group LLC acquired a new position in shares of Comcast during the 3rd quarter worth approximately $28,000. Howard Hughes Medical Institute purchased a new stake in shares of Comcast in the second quarter valued at approximately $29,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Comcast in the second quarter valued at approximately $31,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Trading Up 0.7%

Shares of Comcast stock opened at $29.22 on Wednesday. The stock has a 50 day moving average of $30.29 and a 200 day moving average of $29.60. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $105.13 billion, a price-to-earnings ratio of 5.44, a PEG ratio of 2.26 and a beta of 0.79. Comcast Corporation has a fifty-two week low of $25.75 and a fifty-two week high of $37.72.

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

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.5%. Comcast’s dividend payout ratio is presently 24.58%.

Insider Buying and Selling

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the transaction, the chief executive officer owned 622,336 shares of the company’s stock, valued at $20,325,493.76. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.26% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comcast in a research report on Friday, January 9th. Bank of America upgraded Comcast from a “neutral” rating to a “buy” rating and upped their target price for the company from $31.00 to $37.00 in a report on Monday, January 12th. UBS Group cut their target price on Comcast from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, January 30th. Sanford C. Bernstein reduced their price target on Comcast from $34.00 to $32.00 and set a “market perform” rating on the stock in a report on Thursday, January 15th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $30.00 price target on shares of Comcast in a research report on Friday, January 30th. Ten investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Comcast currently has an average rating of “Hold” and a consensus target price of $34.87.

About Comcast

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.