Comcast Co. (NASDAQ:CMCSA) Shares Sold by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC decreased its position in Comcast Co. (NASDAQ:CMCSA) by 11.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,363 shares of the cable giant’s stock after selling 3,648 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Comcast were worth $1,027,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Promus Capital LLC acquired a new stake in Comcast during the 4th quarter worth approximately $25,000. Winch Advisory Services LLC lifted its holdings in shares of Comcast by 269.9% during the 4th quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant’s stock valued at $26,000 after acquiring an additional 502 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new stake in Comcast during the 3rd quarter worth $30,000. Roxbury Financial LLC purchased a new stake in Comcast during the 4th quarter worth $27,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in Comcast in the fourth quarter valued at about $28,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMCSA has been the subject of a number of recent research reports. Benchmark lowered their target price on Comcast from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Rosenblatt Securities dropped their price objective on shares of Comcast from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. BNP Paribas upgraded shares of Comcast from an “underperform” rating to a “neutral” rating and set a $35.00 target price for the company in a research note on Friday, January 31st. Barclays lowered their price target on shares of Comcast from $42.00 to $37.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Finally, The Goldman Sachs Group decreased their price objective on shares of Comcast from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.83.

Comcast Stock Performance

Shares of CMCSA stock opened at $36.60 on Tuesday. Comcast Co. has a 12-month low of $32.50 and a 12-month high of $45.31. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market capitalization of $138.39 billion, a price-to-earnings ratio of 8.82, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00. The business has a 50 day simple moving average of $35.84 and a 200 day simple moving average of $39.05.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. On average, equities research analysts anticipate that Comcast Co. will post 4.33 EPS for the current year.

Comcast Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.61%. This is a boost from Comcast’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, April 2nd. Comcast’s dividend payout ratio (DPR) is presently 31.81%.

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.