Concord Wealth Partners Boosts Stake in Comcast Co. (NASDAQ:CMCSA)

Concord Wealth Partners raised its holdings in Comcast Co. (NASDAQ:CMCSA) by 17.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 61,207 shares of the cable giant’s stock after acquiring an additional 9,116 shares during the period. Concord Wealth Partners’ holdings in Comcast were worth $2,297,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Koshinski Asset Management Inc. increased its stake in Comcast by 0.8% in the third quarter. Koshinski Asset Management Inc. now owns 30,584 shares of the cable giant’s stock valued at $1,277,000 after purchasing an additional 249 shares during the last quarter. Taurus Asset Management LLC increased its stake in shares of Comcast by 2.9% during the 3rd quarter. Taurus Asset Management LLC now owns 9,125 shares of the cable giant’s stock valued at $381,000 after acquiring an additional 253 shares during the last quarter. Regent Peak Wealth Advisors LLC lifted its holdings in shares of Comcast by 3.1% during the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 8,445 shares of the cable giant’s stock worth $353,000 after acquiring an additional 257 shares during the period. Abich Financial Wealth Management LLC boosted its position in shares of Comcast by 4.7% in the third quarter. Abich Financial Wealth Management LLC now owns 5,829 shares of the cable giant’s stock worth $243,000 after acquiring an additional 260 shares during the last quarter. Finally, Saxon Interests Inc. grew its holdings in Comcast by 2.0% in the third quarter. Saxon Interests Inc. now owns 13,554 shares of the cable giant’s stock valued at $566,000 after purchasing an additional 262 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Brian L. Roberts sold 234,464 shares of Comcast stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the sale, the chief executive officer now directly owns 6,669,928 shares in the company, valued at $284,539,128.48. The trade was a 3.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael J. Cavanagh sold 25,537 shares of Comcast stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total value of $1,087,620.83. Following the transaction, the president now owns 534,849 shares in the company, valued at approximately $22,779,218.91. This trade represents a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CMCSA. Benchmark cut their price target on shares of Comcast from $57.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research report on Wednesday, November 6th. The Goldman Sachs Group lowered their price target on Comcast from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Friday. Wells Fargo & Company reduced their price objective on Comcast from $45.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Comcast presently has an average rating of “Moderate Buy” and an average price target of $45.00.

Comcast Price Performance

CMCSA opened at $33.66 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $128.80 billion, a P/E ratio of 9.05, a PEG ratio of 1.36 and a beta of 1.01. Comcast Co. has a 1-year low of $32.50 and a 1-year high of $47.11. The company has a 50-day moving average of $38.61 and a 200-day moving average of $40.07.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.08. Comcast had a return on equity of 19.81% and a net margin of 11.92%. Equities analysts expect that Comcast Co. will post 4.25 EPS for the current fiscal year.

Comcast Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 2nd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.92%. This is a positive change from Comcast’s previous quarterly dividend of $0.31. Comcast’s payout ratio is currently 33.33%.

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.