Comcast Corporation $CMCSA Stake Lowered by Arax Advisory Partners

Arax Advisory Partners reduced its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 34.1% during the 4th quarter, HoldingsChannel reports. The fund owned 61,518 shares of the cable giant’s stock after selling 31,826 shares during the period. Arax Advisory Partners’ holdings in Comcast were worth $1,832,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CMCSA. Imprint Wealth LLC purchased a new position in shares of Comcast during the 3rd quarter valued at $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Comcast in the 4th quarter valued at $27,000. United Financial Planning Group LLC acquired a new stake in shares of Comcast in the 3rd quarter valued at $28,000. Olistico Wealth LLC acquired a new stake in shares of Comcast in the 4th quarter valued at $29,000. Finally, Richardson Financial Services Inc. lifted its stake in shares of Comcast by 212.6% in the 4th quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 691 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on CMCSA. Scotiabank lifted their price objective on shares of Comcast from $34.00 to $36.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft lowered shares of Comcast from a “buy” rating to a “hold” rating and set a $34.00 price objective for the company. in a research note on Friday, April 24th. Evercore lifted their price objective on shares of Comcast from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Royal Bank Of Canada lifted their price objective on shares of Comcast from $31.00 to $32.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Finally, Zacks Research raised shares of Comcast from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 31st. Nine research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $34.56.

Comcast Stock Down 2.2%

Comcast stock opened at $23.97 on Tuesday. The firm has a market cap of $85.63 billion, a price-to-earnings ratio of 4.72, a P/E/G ratio of 1.99 and a beta of 0.68. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. Comcast Corporation has a fifty-two week low of $23.13 and a fifty-two week high of $36.66. The firm has a fifty day moving average price of $26.24 and a two-hundred day moving average price of $28.31.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The firm had revenue of $31.46 billion during 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%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. As a group, analysts forecast that Comcast Corporation will post 3.53 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 5.5%. Comcast’s payout ratio is currently 25.98%.

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.