SouthState Bank Corp Sells 50,293 Shares of Comcast Corporation $CMCSA

SouthState Bank Corp cut its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 72.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,848 shares of the cable giant’s stock after selling 50,293 shares during the quarter. SouthState Bank Corp’s holdings in Comcast were worth $592,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Argyle Capital Management LLC lifted its stake in shares of Comcast by 0.5% during the 2nd quarter. Argyle Capital Management LLC now owns 61,186 shares of the cable giant’s stock worth $2,184,000 after buying an additional 300 shares during the last quarter. Cape Investment Advisory Inc. increased its position in Comcast by 2.6% during the 2nd quarter. Cape Investment Advisory Inc. now owns 12,275 shares of the cable giant’s stock worth $438,000 after buying an additional 307 shares during the period. Coign Capital Advisors LLC lifted its holdings in shares of Comcast by 2.1% during the second quarter. Coign Capital Advisors LLC now owns 15,919 shares of the cable giant’s stock worth $568,000 after buying an additional 324 shares in the last quarter. OneAscent Family Office LLC boosted its position in shares of Comcast by 4.9% in the second quarter. OneAscent Family Office LLC now owns 7,048 shares of the cable giant’s stock valued at $252,000 after acquiring an additional 332 shares during the period. Finally, Titleist Asset Management LLC grew its stake in shares of Comcast by 4.7% in the second quarter. Titleist Asset Management LLC now owns 7,618 shares of the cable giant’s stock valued at $272,000 after acquiring an additional 342 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Up 1.7%

NASDAQ:CMCSA opened at $31.37 on Friday. Comcast Corporation has a one year low of $25.75 and a one year high of $37.97. 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 PE ratio of 5.84, a P/E/G ratio of 2.35 and a beta of 0.81. The firm’s 50 day simple moving average is $28.79 and its 200 day simple moving average is $30.21.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The firm had revenue of $32.31 billion during the quarter, compared to the consensus estimate of $32.35 billion. During the same quarter last year, the firm earned $0.96 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, research analysts anticipate 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. Stockholders of record on Wednesday, April 1st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio (DPR) is 24.58%.

Analysts Set New Price Targets

A number of analysts have issued reports on CMCSA shares. Pivotal Research downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Citigroup reissued a “buy” rating and set a $33.00 price target (up previously from $32.79) on shares of Comcast in a research report on Friday, January 30th. Benchmark cut their target price on Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, January 5th. BNP Paribas Exane reaffirmed a “neutral” rating on shares of Comcast in a research note on Tuesday, January 27th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $30.00 price objective (down from $39.00) on shares of Comcast in a research note on Friday, October 31st. Ten 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $34.90.

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.