Forvis Mazars Wealth Advisors LLC Reduces Stock Position in Comcast Co. (NASDAQ:CMCSA)

Forvis Mazars Wealth Advisors LLC trimmed its holdings in Comcast Co. (NASDAQ:CMCSA) by 7.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,402 shares of the cable giant’s stock after selling 1,663 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Comcast were worth $766,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. World Investment Advisors LLC increased its holdings in Comcast by 904.0% in the third quarter. World Investment Advisors LLC now owns 254,545 shares of the cable giant’s stock valued at $10,632,000 after buying an additional 229,192 shares during the last quarter. Bfsg LLC grew its position in shares of Comcast by 752.8% in the 4th quarter. Bfsg LLC now owns 83,366 shares of the cable giant’s stock worth $3,129,000 after acquiring an additional 73,590 shares in the last quarter. Robinson Value Management Ltd. increased its holdings in shares of Comcast by 136.7% in the 4th quarter. Robinson Value Management Ltd. now owns 102,360 shares of the cable giant’s stock valued at $3,842,000 after acquiring an additional 59,107 shares during the last quarter. Tidal Investments LLC raised its position in shares of Comcast by 15.2% during the 3rd quarter. Tidal Investments LLC now owns 171,440 shares of the cable giant’s stock valued at $7,161,000 after acquiring an additional 22,684 shares in the last quarter. Finally, Private Management Group Inc. lifted its stake in Comcast by 3.0% during the fourth quarter. Private Management Group Inc. now owns 855,787 shares of the cable giant’s stock worth $32,118,000 after purchasing an additional 24,827 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Performance

Shares of CMCSA opened at $36.26 on Monday. Comcast Co. has a 52-week low of $32.50 and a 52-week high of $45.31. The firm has a market capitalization of $137.08 billion, a PE ratio of 8.74, a P/E/G ratio of 1.78 and a beta of 1.00. The firm has a 50-day moving average price of $36.58 and a 200 day moving average price of $39.59. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, January 30th. The cable giant reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. On average, sell-side analysts anticipate that Comcast Co. will post 4.33 earnings per share for the current fiscal year.

Comcast Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 2nd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Wednesday, April 2nd. This is an increase from Comcast’s previous quarterly dividend of $0.31. Comcast’s payout ratio is currently 31.81%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CMCSA shares. 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 report on Friday, November 1st. Bank of America lowered shares of Comcast from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $50.00 to $38.00 in a research note on Friday, January 31st. Morgan Stanley decreased their target price on Comcast from $45.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Barclays lowered their target price on Comcast from $42.00 to $37.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut their price target on Comcast from $45.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Comcast has an average rating of “Moderate Buy” and a consensus target price of $43.83.

Insider Activity

In related news, CEO Brian L. Roberts sold 234,464 shares of Comcast stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total value of $10,002,234.24. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Michael J. Cavanagh sold 25,537 shares of the company’s 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 sale, the president now directly owns 534,849 shares of the company’s stock, valued at approximately $22,779,218.91. This represents a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

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.