Institute for Wealth Management LLC. Has $1.02 Million Position in Comcast Corporation $CMCSA

Institute for Wealth Management LLC. cut its position in Comcast Corporation (NASDAQ:CMCSA) by 1.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,550 shares of the cable giant’s stock after selling 451 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Comcast were worth $1,019,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Advisor OS LLC lifted its stake in Comcast by 33.2% in the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock valued at $1,308,000 after purchasing an additional 8,841 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its stake in Comcast by 10.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant’s stock valued at $47,254,000 after purchasing an additional 118,839 shares during the last quarter. OMNI 360 Wealth Inc. bought a new position in Comcast in the 1st quarter valued at approximately $335,000. DAVENPORT & Co LLC increased its position in Comcast by 41.7% in the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant’s stock valued at $157,766,000 after acquiring an additional 1,261,278 shares during the period. Finally, Kestra Investment Management LLC increased its position in Comcast by 49.5% in the 1st quarter. Kestra Investment Management LLC now owns 71,331 shares of the cable giant’s stock valued at $2,632,000 after acquiring an additional 23,607 shares during the period. Institutional investors own 84.32% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CMCSA. Loop Capital decreased their price target on shares of Comcast from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday. Moffett Nathanson upped their price target on shares of Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Royal Bank Of Canada began coverage on shares of Comcast in a research report on Monday, September 8th. They issued a “sector perform” rating and a $38.00 price target for the company. UBS Group decreased their price target on shares of Comcast from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, August 1st. Finally, Scotiabank upped their price target 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. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $40.07.

Comcast Trading Down 1.5%

CMCSA opened at $30.94 on Thursday. Comcast Corporation has a twelve month low of $30.90 and a twelve month high of $45.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The company has a fifty day moving average of $32.89 and a 200-day moving average of $34.24. The stock has a market cap of $114.24 billion, a PE ratio of 5.11, a price-to-earnings-growth ratio of 1.84 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company had revenue of $30.31 billion during the quarter, compared to analysts’ expectations of $29.81 billion. During the same period in the prior year, the company posted $1.21 earnings per share. Comcast’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, sell-side analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 4.3%. Comcast’s dividend payout ratio is currently 21.82%.

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.