Boston Research & Management Inc. Sells 42,895 Shares of Comcast Corporation $CMCSA

Boston Research & Management Inc. cut its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 30.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,971 shares of the cable giant’s stock after selling 42,895 shares during the period. Boston Research & Management Inc.’s holdings in Comcast were worth $2,898,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Imprint Wealth LLC bought a new position in shares of Comcast during the third quarter valued at $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Comcast in the fourth quarter worth $27,000. United Financial Planning Group LLC bought a new stake in shares of Comcast in the third quarter worth $28,000. Olistico Wealth LLC bought a new stake in shares of Comcast in the fourth quarter worth $29,000. Finally, Richardson Financial Services Inc. grew its stake in shares of Comcast by 212.6% in the fourth quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock worth $30,000 after purchasing an additional 691 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Price Performance

CMCSA stock opened at $23.97 on Thursday. The firm has a market cap of $85.63 billion, a price-to-earnings ratio of 4.72, a PEG ratio of 1.94 and a beta of 0.67. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. Comcast Corporation has a 12-month low of $23.13 and a 12-month high of $36.66. The company’s fifty day simple moving average is $26.48 and its 200 day simple moving average is $28.36.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.06. The business had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. Comcast’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 earnings per share. On average, analysts expect that Comcast Corporation will post 3.53 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 annualized dividend and a dividend yield of 5.5%. Comcast’s dividend payout ratio (DPR) is 25.98%.

Wall Street Analyst Weigh In

CMCSA has been the topic of several analyst reports. Wall Street Zen raised shares of Comcast to a “hold” rating in a research note on Saturday, March 14th. Rosenblatt Securities reduced their price objective on shares of Comcast from $30.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, June 5th. Citigroup boosted their price objective on shares of Comcast from $33.00 to $35.50 and gave the stock a “buy” rating in a research note on Friday, April 24th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $29.00 target price on shares of Comcast in a report on Thursday, April 23rd. Finally, Morgan Stanley upped their target price on Comcast from $31.00 to $33.00 and gave the company an “equal weight” rating in a report on Friday, April 24th. Nine investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $34.56.

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.