Florida Trust Wealth Management Co Cuts Position in Comcast Corporation $CMCSA

Florida Trust Wealth Management Co reduced its position in Comcast Corporation (NASDAQ:CMCSA) by 17.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,964 shares of the cable giant’s stock after selling 24,733 shares during the period. Florida Trust Wealth Management Co’s holdings in Comcast were worth $3,466,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Capital A Wealth Management LLC lifted its position in Comcast by 173.7% during the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after buying an additional 436 shares in the last quarter. Imprint Wealth LLC acquired a new stake in shares of Comcast in the third quarter worth $26,000. United Financial Planning Group LLC purchased a new position in shares of Comcast in the 3rd quarter valued at $28,000. Howard Hughes Medical Institute purchased a new position in shares of Comcast in the 2nd quarter valued at $29,000. Finally, Olistico Wealth LLC acquired a new position in shares of Comcast during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Insiders Place Their Bets

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the sale, the chief executive officer directly owned 622,336 shares in the company, valued at $20,325,493.76. The trade was a 8.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.32% of the stock is currently owned by company insiders.

Comcast Stock Performance

Comcast stock opened at $27.93 on Monday. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $36.66. 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 capitalization of $100.49 billion, a price-to-earnings ratio of 5.20, a price-to-earnings-growth ratio of 2.26 and a beta of 0.80. The firm’s fifty day moving average price is $30.27 and its 200 day moving average price is $29.33.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The company had revenue of $32.31 billion during the quarter, compared to analysts’ expectations of $32.35 billion. During the same period in the prior year, the company posted $0.96 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, research analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio (DPR) is 24.58%.

Wall Street Analyst Weigh In

CMCSA has been the subject of a number of research reports. TD Cowen decreased their price target on shares of Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Sanford C. Bernstein reduced their price objective on Comcast from $34.00 to $32.00 and set a “market perform” rating on the stock in a research note on Thursday, January 15th. Benchmark decreased 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. Rosenblatt Securities reiterated a “neutral” rating and issued a $30.00 target price on shares of Comcast in a research note on Friday, January 30th. Finally, The Goldman Sachs Group dropped their target price on Comcast from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, March 25th. Ten research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $34.71.

Comcast Profile

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.