PFW Advisors LLC Reduces Holdings in Comcast Corporation $CMCSA

PFW Advisors LLC decreased its holdings in Comcast Corporation (NASDAQ:CMCSA) by 1.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,343 shares of the cable giant’s stock after selling 775 shares during the quarter. PFW Advisors LLC’s holdings in Comcast were worth $1,904,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisor OS LLC raised its stake in 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 acquiring an additional 8,841 shares during the period. Resona Asset Management Co. Ltd. raised its stake in Comcast by 10.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant’s stock worth $47,254,000 after acquiring an additional 118,839 shares during the period. OMNI 360 Wealth Inc. bought a new stake in Comcast during the 1st quarter worth approximately $335,000. DAVENPORT & Co LLC raised its position in shares of Comcast by 41.7% during the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant’s stock valued at $157,766,000 after buying an additional 1,261,278 shares during the last quarter. Finally, Kestra Investment Management LLC raised its position in shares of Comcast by 49.5% during the first quarter. Kestra Investment Management LLC now owns 71,331 shares of the cable giant’s stock valued at $2,632,000 after buying an additional 23,607 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Down 1.0%

Shares of CMCSA opened at $32.29 on Wednesday. The firm has a market capitalization of $119.22 billion, a P/E ratio of 5.34, a P/E/G ratio of 1.95 and a beta of 0.93. Comcast Corporation has a 12-month low of $31.03 and a 12-month high of $45.31. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The firm has a fifty day moving average price of $33.66 and a 200-day moving average price of $34.55.

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

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Wednesday, October 1st. Comcast’s payout ratio is presently 21.82%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CMCSA. Arete Research upgraded shares of Comcast to a “hold” rating in a research report on Tuesday, July 8th. Scotiabank lifted their price objective on shares of Comcast from $44.50 to $45.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Royal Bank Of Canada began coverage on shares of Comcast in a research report on Monday, September 8th. They set a “sector perform” rating and a $38.00 price objective on the stock. Rosenblatt Securities lifted their price objective on shares of Comcast from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, August 4th. Finally, Morgan Stanley reduced their price objective on shares of Comcast from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Comcast has an average rating of “Hold” and an average target price of $40.56.

Comcast 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.