Comcast Corporation (NASDAQ:CMCSA) Position Cut by Welch & Forbes LLC

Welch & Forbes LLC lowered its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 31.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 788,166 shares of the cable giant’s stock after selling 360,962 shares during the period. Welch & Forbes LLC’s holdings in Comcast were worth $29,083,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CMCSA. Inlight Wealth Management LLC acquired a new position in Comcast in the 1st quarter worth approximately $26,000. Abound Financial LLC acquired a new stake in shares of Comcast during the 1st quarter valued at $29,000. Retirement Wealth Solutions LLC grew its holdings in shares of Comcast by 126.9% during the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in shares of Comcast during the 4th quarter worth about $33,000. Finally, Global Wealth Strategies & Associates lifted its stake in Comcast by 203.4% in the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant’s stock valued at $33,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Price Performance

CMCSA stock opened at $34.72 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65. The business has a 50-day simple moving average of $34.99 and a two-hundred day simple moving average of $35.37. The company has a market capitalization of $129.63 billion, a P/E ratio of 8.53, a price-to-earnings-growth ratio of 1.72 and a beta of 0.95. Comcast Corporation has a 52-week low of $31.44 and a 52-week high of $45.31.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The company had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $29.82 billion. During the same quarter in the prior year, the company posted $1.04 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Research analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast’s dividend payout ratio is currently 32.43%.

Analyst Ratings Changes

Several analysts have issued reports on CMCSA shares. Bernstein Bank decreased their price target on shares of Comcast from $38.00 to $37.00 and set a “market perform” rating on the stock in a research report on Friday, April 25th. Morgan Stanley set a $37.00 price target on Comcast in a research note on Friday, April 25th. BNP Paribas Exane cut their price target on Comcast from $31.00 to $30.00 and set an “underperform” rating for the company in a report on Friday, April 25th. New Street Research decreased their price objective on Comcast from $44.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, Barclays cut their target price on Comcast from $37.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Comcast currently has a consensus rating of “Hold” and a consensus target price of $40.98.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.