Norden Group LLC Cuts Stock Holdings in Comcast Corporation (NASDAQ:CMCSA)

Norden Group LLC reduced its stake in Comcast Corporation (NASDAQ:CMCSA) by 0.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 58,658 shares of the cable giant’s stock after selling 562 shares during the quarter. Norden Group LLC’s holdings in Comcast were worth $2,164,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Inlight Wealth Management LLC bought a new stake in shares of Comcast during the 1st quarter worth $26,000. Abound Financial LLC purchased a new position in Comcast in the first quarter valued at about $29,000. Retirement Wealth Solutions LLC grew its position 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 during the period. Mpwm Advisory Solutions LLC purchased a new stake in shares of Comcast during the 4th quarter worth approximately $33,000. Finally, Global Wealth Strategies & Associates raised its holdings in shares of Comcast by 203.4% in the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant’s stock worth $33,000 after purchasing an additional 600 shares during the period. 84.32% of the stock is currently owned by institutional investors.

Comcast Price Performance

CMCSA stock opened at $33.68 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65. Comcast Corporation has a 1 year low of $31.44 and a 1 year high of $45.31. The firm has a 50-day moving average of $35.01 and a 200 day moving average of $35.22. The company has a market cap of $125.75 billion, a P/E ratio of 8.28, a PEG ratio of 1.63 and a beta of 0.95.

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

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd were given a $0.33 dividend. The ex-dividend date was Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.92%. Comcast’s dividend payout ratio is currently 32.43%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Comcast from $37.00 to $40.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Wells Fargo & Company lowered Comcast from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $37.00 to $31.00 in a report on Monday, April 14th. Moffett Nathanson boosted their price objective on Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, June 12th. Citigroup cut their target price on Comcast from $44.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, KeyCorp decreased their price target on Comcast from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Three equities 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $41.13.

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.