RDA Financial Network Sells 681 Shares of Comcast Corporation $CMCSA

RDA Financial Network lessened its stake in Comcast Corporation (NASDAQ:CMCSA) by 6.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,158 shares of the cable giant’s stock after selling 681 shares during the period. RDA Financial Network’s holdings in Comcast were worth $363,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Inlight Wealth Management LLC acquired a new stake in Comcast in the first quarter worth about $26,000. Ransom Advisory Ltd acquired a new position in Comcast during the 1st quarter valued at about $29,000. Abound Financial LLC bought a new position in shares of Comcast in the 1st 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 worth $30,000 after buying an additional 448 shares during the period. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of Comcast during the fourth quarter worth approximately $33,000. 84.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on CMCSA shares. UBS Group lowered their target price on shares of Comcast from $40.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, August 1st. Benchmark reaffirmed a “buy” rating on shares of Comcast in a research note on Friday, July 18th. Citigroup reiterated a “buy” rating on shares of Comcast in a report on Tuesday, August 26th. Royal Bank Of Canada initiated coverage on Comcast in a report on Monday, September 8th. They set a “sector perform” rating and a $38.00 target price on the stock. Finally, Moffett Nathanson upped their price target on Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $40.56.

Comcast Stock Down 1.0%

Comcast stock opened at $33.06 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. The company’s 50-day moving average is $33.79 and its 200-day moving average is $34.59. The firm has a market capitalization of $122.06 billion, a PE ratio of 5.46, a P/E/G ratio of 1.98 and a beta of 0.93. Comcast Corporation has a fifty-two week low of $31.03 and a fifty-two week high of $45.31.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The business had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. During the same period in the previous year, the firm earned $1.21 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be paid a $0.33 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 4.0%. Comcast’s payout ratio is 21.82%.

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.