Delta Asset Management LLC TN Reduces Position in Comcast Co. (NASDAQ:CMCSA)

Delta Asset Management LLC TN reduced its position in Comcast Co. (NASDAQ:CMCSA) by 21.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 599,411 shares of the cable giant’s stock after selling 168,213 shares during the quarter. Comcast accounts for approximately 2.0% of Delta Asset Management LLC TN’s holdings, making the stock its 15th biggest holding. Delta Asset Management LLC TN’s holdings in Comcast were worth $22,496,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Promus Capital LLC bought a new stake in shares of Comcast during the fourth quarter valued at approximately $25,000. Winch Advisory Services LLC increased its stake in shares of Comcast by 269.9% during the fourth quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant’s stock valued at $26,000 after buying an additional 502 shares during the period. Roxbury Financial LLC bought a new stake in shares of Comcast in the fourth quarter valued at about $27,000. Wingate Wealth Advisors Inc. purchased a new stake in Comcast in the fourth quarter worth about $28,000. Finally, Safe Harbor Fiduciary LLC bought a new position in Comcast during the 3rd quarter worth about $30,000. Institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

CMCSA has been the subject of several research reports. BNP Paribas raised shares of Comcast from an “underperform” rating to a “neutral” rating and set a $35.00 price target for the company in a research report on Friday, January 31st. Sanford C. Bernstein set a $38.00 price target on shares of Comcast in a report on Friday, January 31st. Rosenblatt Securities lowered their price objective on Comcast from $45.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Loop Capital dropped their target price on Comcast from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Finally, JPMorgan Chase & Co. decreased their price target on Comcast from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Ten research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.64.

Comcast Price Performance

Shares of CMCSA opened at $37.37 on Thursday. The business’s 50-day moving average is $35.87 and its two-hundred day moving average is $39.02. The company has a market capitalization of $141.30 billion, a P/E ratio of 9.00, a P/E/G ratio of 1.78 and a beta of 1.00. Comcast Co. has a fifty-two week low of $32.50 and a fifty-two week high of $45.31. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.68.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, January 30th. The cable giant reported $0.96 EPS for the quarter, topping the consensus estimate of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. Research analysts predict that Comcast Co. will post 4.33 earnings per share for the current year.

Comcast Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 2nd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This is an increase from Comcast’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a yield of 3.53%. Comcast’s dividend payout ratio is 31.81%.

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.