Peapack Gladstone Financial Corp Reduces Position in Comcast Corporation $CMCSA

Peapack Gladstone Financial Corp cut its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 20.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,712 shares of the cable giant’s stock after selling 20,877 shares during the period. Peapack Gladstone Financial Corp’s holdings in Comcast were worth $2,383,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CMCSA. Imprint Wealth LLC purchased a new position in Comcast in the third quarter worth about $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Comcast in the fourth quarter worth about $27,000. United Financial Planning Group LLC purchased a new position in Comcast in the third quarter worth about $28,000. Olistico Wealth LLC purchased a new position in Comcast in the fourth quarter worth about $29,000. Finally, Richardson Financial Services Inc. lifted its position in shares of Comcast by 212.6% during the 4th quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock valued at $30,000 after buying an additional 691 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Stock Down 0.8%

Shares of CMCSA opened at $24.85 on Wednesday. The business’s 50 day moving average is $27.18 and its 200 day moving average is $28.53. The company has a market capitalization of $88.77 billion, a PE ratio of 4.89, a price-to-earnings-growth ratio of 2.04 and a beta of 0.67. Comcast Corporation has a 12-month low of $24.53 and a 12-month high of $36.66. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.06. The company had revenue of $31.46 billion for the quarter, compared to the consensus estimate of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $1.09 EPS. Research analysts expect that Comcast Corporation will post 3.53 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast’s dividend payout ratio (DPR) is 25.98%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Evercore lifted their price objective on Comcast from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Zacks Research raised Comcast from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. Morgan Stanley lifted their price objective on Comcast from $31.00 to $33.00 and gave the company an “equal weight” rating in a research report on Friday, April 24th. Scotiabank lifted their price objective on Comcast from $34.00 to $36.00 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Finally, Citigroup lifted their price objective on Comcast from $33.00 to $35.50 and gave the company a “buy” rating in a research report on Friday, April 24th. Nine investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $34.79.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.