Comcast Co. (NASDAQ:CMCSA) Holdings Lowered by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE cut its stake in Comcast Co. (NASDAQ:CMCSA) by 41.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,481 shares of the cable giant’s stock after selling 70,718 shares during the period. Congress Wealth Management LLC DE’s holdings in Comcast were worth $3,734,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. FMR LLC raised its position in Comcast by 5.4% in the third quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock worth $4,904,647,000 after acquiring an additional 6,062,658 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Comcast by 7.1% in the 4th quarter. First Eagle Investment Management LLC now owns 34,101,077 shares of the cable giant’s stock worth $1,279,813,000 after purchasing an additional 2,270,186 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Comcast by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 32,709,601 shares of the cable giant’s stock worth $1,227,591,000 after buying an additional 838,366 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Comcast by 6.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,364,136 shares of the cable giant’s stock worth $1,268,310,000 after buying an additional 1,717,762 shares during the last quarter. Finally, Amundi increased its holdings in shares of Comcast by 147.9% in the fourth quarter. Amundi now owns 24,086,671 shares of the cable giant’s stock valued at $895,499,000 after buying an additional 14,369,056 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Up 0.9 %

Shares of Comcast stock opened at $36.94 on Wednesday. The firm has a market cap of $139.67 billion, a price-to-earnings ratio of 8.90, a P/E/G ratio of 1.78 and a beta of 1.00. The stock has a 50-day simple moving average of $35.85 and a 200-day simple moving average of $39.04. Comcast Co. has a 52-week low of $32.50 and a 52-week 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.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, beating 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 expect that Comcast Co. will post 4.33 earnings per share for the current fiscal year.

Comcast Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 2nd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.57%. This is an increase 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 is presently 31.81%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CMCSA. Rosenblatt Securities decreased their target price on Comcast from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. UBS Group cut their price objective on Comcast from $47.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday. Bank of America lowered shares of Comcast from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $50.00 to $38.00 in a research note on Friday, January 31st. StockNews.com raised shares of Comcast from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 27th. Finally, Wells Fargo & Company reduced their price target on shares of Comcast from $45.00 to $37.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Ten research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $43.64.

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.