Sound View Wealth Advisors Group LLC Trims Position in Comcast Corporation (NASDAQ:CMCSA)

Sound View Wealth Advisors Group LLC lessened its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 8.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 44,290 shares of the cable giant’s stock after selling 3,870 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Comcast were worth $1,634,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of CMCSA. Advisor OS LLC increased its position in shares of Comcast by 33.2% during the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock worth $1,308,000 after purchasing an additional 8,841 shares during the last quarter. OMNI 360 Wealth Inc. acquired a new stake in shares of Comcast during the 1st quarter worth about $335,000. Aviva PLC increased its position in shares of Comcast by 7.2% during the 4th quarter. Aviva PLC now owns 2,327,702 shares of the cable giant’s stock worth $87,359,000 after purchasing an additional 156,986 shares during the last quarter. DAVENPORT & Co LLC increased its position in shares of Comcast by 41.7% during the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant’s stock worth $157,766,000 after purchasing an additional 1,261,278 shares during the last quarter. Finally, Transcend Capital Advisors LLC increased its position in shares of Comcast by 21.7% during the 1st quarter. Transcend Capital Advisors LLC now owns 76,791 shares of the cable giant’s stock worth $2,834,000 after purchasing an additional 13,678 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

CMCSA stock opened at $33.23 on Friday. The business has a 50 day moving average price of $34.84 and a 200 day moving average price of $35.14. The stock has a market cap of $124.07 billion, a price-to-earnings ratio of 8.16, a PEG ratio of 1.58 and a beta of 0.95. Comcast Corporation has a fifty-two week low of $31.44 and a fifty-two week high of $45.31. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.06.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The company had revenue of $30.31 billion during the quarter, compared to analysts’ expectations of $29.81 billion. During the same quarter in the previous year, the business earned $1.21 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd were paid a $0.33 dividend. The ex-dividend date was Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 4.0%. Comcast’s payout ratio is currently 32.43%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CMCSA. The Goldman Sachs Group cut their price objective on Comcast from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Citigroup dropped their target price on Comcast from $44.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Moffett Nathanson lifted their target price on Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, June 12th. Barclays dropped their target price on Comcast from $37.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday, April 28th. Finally, Oppenheimer dropped their target price on Comcast from $55.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Comcast presently has an average rating of “Hold” and a consensus price target of $41.13.

About Comcast

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.