Axxcess Wealth Management LLC Sells 25,770 Shares of Comcast Corporation $CMCSA

Axxcess Wealth Management LLC decreased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 15.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 141,370 shares of the cable giant’s stock after selling 25,770 shares during the period. Axxcess Wealth Management LLC’s holdings in Comcast were worth $4,059,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CMCSA. Saxon Interests Inc. increased its holdings in Comcast by 19.7% in the first quarter. Saxon Interests Inc. now owns 18,378 shares of the cable giant’s stock valued at $528,000 after purchasing an additional 3,021 shares during the last quarter. Childress Capital Advisors LLC boosted its holdings in Comcast by 23.2% during the first quarter. Childress Capital Advisors LLC now owns 16,814 shares of the cable giant’s stock worth $483,000 after buying an additional 3,168 shares during the last quarter. Jackson Thornton Wealth Management LLC bought a new position in Comcast during the first quarter worth about $257,000. Cairn Investment Group Inc. grew its position in shares of Comcast by 867.8% during the 1st quarter. Cairn Investment Group Inc. now owns 111,975 shares of the cable giant’s stock worth $3,213,000 after buying an additional 100,405 shares during the period. Finally, Bank of Stockton increased its stake in shares of Comcast by 99.8% in the 1st quarter. Bank of Stockton now owns 32,862 shares of the cable giant’s stock valued at $943,000 after acquiring an additional 16,414 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Price Performance

NASDAQ CMCSA opened at $23.19 on Thursday. 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 $22.13 and a 12-month high of $36.03. The company has a market capitalization of $82.84 billion, a PE ratio of 4.56, a price-to-earnings-growth ratio of 1.93 and a beta of 0.67. The firm’s 50 day moving average is $24.41 and its 200-day moving average is $27.78.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. During the same quarter in the previous year, the firm posted $1.09 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts anticipate that Comcast Corporation will post 3.49 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders 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 yield of 5.7%. Comcast’s payout ratio is 25.98%.

Analysts Set New Price Targets

CMCSA has been the topic of a number of analyst reports. Scotiabank increased their price target on shares of Comcast from $34.00 to $36.00 and gave the company a “sector perform” rating in a research report on Friday, April 24th. The Goldman Sachs Group decreased their price objective on shares of Comcast from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, July 2nd. Citigroup lowered their target price on shares of Comcast from $35.50 to $32.00 and set a “buy” rating for the company in a research note on Monday, June 29th. UBS Group reiterated a “neutral” rating on shares of Comcast in a report on Tuesday, June 23rd. Finally, Seaport Research Partners raised shares of Comcast from a “neutral” rating to a “buy” rating in a research report on Thursday, July 2nd. Eleven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Comcast currently has a consensus rating of “Hold” and a consensus price target of $34.04.

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.