Dakota Wealth Management Lowers Position in Comcast Corporation $CMCSA

Dakota Wealth Management trimmed its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 20.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 143,447 shares of the cable giant’s stock after selling 37,326 shares during the period. Dakota Wealth Management’s holdings in Comcast were worth $4,507,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. MainStreet Investment Advisors LLC increased its holdings in shares of Comcast by 1.6% in the third quarter. MainStreet Investment Advisors LLC now owns 83,016 shares of the cable giant’s stock worth $2,608,000 after purchasing an additional 1,273 shares during the last quarter. Clark Estates Inc. NY increased its stake in Comcast by 41.3% in the 3rd quarter. Clark Estates Inc. NY now owns 62,100 shares of the cable giant’s stock worth $1,951,000 after acquiring an additional 18,144 shares during the last quarter. Clearstead Advisors LLC raised its holdings in shares of Comcast by 5.4% during the 3rd quarter. Clearstead Advisors LLC now owns 79,711 shares of the cable giant’s stock worth $2,505,000 after acquiring an additional 4,052 shares in the last quarter. Equitable Trust Co. raised its holdings in shares of Comcast by 25.3% during the 3rd quarter. Equitable Trust Co. now owns 18,154 shares of the cable giant’s stock worth $570,000 after acquiring an additional 3,664 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its position in shares of Comcast by 5.5% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 877,995 shares of the cable giant’s stock valued at $27,587,000 after acquiring an additional 45,510 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. BNP Paribas Exane downgraded shares of Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 price target on the stock. in a research note on Tuesday. UBS Group reduced their target price on shares of Comcast from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Comcast from $40.00 to $35.00 and set a “buy” rating for the company in a report on Friday, January 30th. Sanford C. Bernstein dropped their price target on Comcast from $34.00 to $32.00 and set a “market perform” rating for the company in a research report on Thursday, January 15th. Finally, Barclays set a $28.00 price objective on Comcast and gave the company an “equal weight” rating in a research report on Tuesday, January 13th. Ten investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $34.87.

Insider Activity

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total value of $1,892,549.02. Following the transaction, the chief executive officer directly owned 622,336 shares in the company, valued at approximately $20,325,493.76. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.26% of the company’s stock.

Comcast Stock Down 0.1%

Shares of NASDAQ CMCSA opened at $31.61 on Wednesday. Comcast Corporation has a 1 year low of $25.75 and a 1 year high of $37.97. The firm has a 50-day simple moving average of $29.81 and a two-hundred day simple moving average of $30.03. The company has a market cap of $113.73 billion, a P/E ratio of 5.89, a PEG ratio of 2.47 and a beta of 0.81. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, topping 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 firm had revenue of $32.31 billion for the quarter, compared to the consensus estimate of $32.35 billion. During the same period in the prior year, the business posted $0.96 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. Research analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio (DPR) 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.