Concord Asset Management LLC VA Cuts Stake in Comcast Corporation $CMCSA

Concord Asset Management LLC VA cut its position in Comcast Corporation (NASDAQ:CMCSA) by 49.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 36,199 shares of the cable giant’s stock after selling 34,751 shares during the period. Concord Asset Management LLC VA’s holdings in Comcast were worth $1,137,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capital A Wealth Management LLC boosted its stake in Comcast by 173.7% during the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after purchasing an additional 436 shares during the last quarter. Avalon Trust Co boosted its position in shares of Comcast by 433.3% during the second quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock valued at $27,000 after buying an additional 624 shares during the last quarter. Howard Hughes Medical Institute purchased a new stake in shares of Comcast during the second quarter valued at $29,000. Princeton Global Asset Management LLC increased its holdings in Comcast by 403.5% in the 2nd quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant’s stock worth $31,000 after buying an additional 686 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in Comcast in the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

CMCSA has been the topic of a number of recent analyst reports. Williams Trading set a $40.00 price target on shares of Comcast in a report on Friday, October 31st. Sanford C. Bernstein dropped their target price on shares of Comcast from $34.00 to $32.00 and set a “market perform” rating on the stock in a report on Thursday, January 15th. Pivotal Research downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Benchmark lowered their price target on Comcast from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Finally, KeyCorp downgraded Comcast from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 30th. Ten investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Comcast currently has an average rating of “Hold” and a consensus price target of $34.90.

Comcast Trading Up 1.7%

Shares of CMCSA stock opened at $31.37 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $114.31 billion, a price-to-earnings ratio of 5.84, a PEG ratio of 2.35 and a beta of 0.81. Comcast Corporation has a 1 year low of $25.75 and a 1 year high of $37.97. The firm has a fifty day moving average price of $28.79 and a 200-day moving average price of $30.21.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The company had revenue of $32.31 billion for the quarter, compared to the consensus estimate of $32.35 billion. During the same period in the previous year, the business earned $0.96 earnings per share. Comcast’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, equities analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. Comcast’s payout ratio is 24.58%.

About Comcast

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.