Comcast Co. (NASDAQ:CMCSA) Shares Sold by WealthPLAN Partners LLC

WealthPLAN Partners LLC decreased its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 31.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,235 shares of the cable giant’s stock after selling 2,376 shares during the period. WealthPLAN Partners LLC’s holdings in Comcast were worth $227,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Capital World Investors increased its stake in shares of Comcast by 17.0% during the 4th quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock worth $4,725,926,000 after purchasing an additional 15,625,543 shares in the last quarter. Norges Bank acquired a new stake in Comcast in the 4th quarter valued at $2,542,988,000. Harris Associates L P raised its holdings in shares of Comcast by 10.9% during the 4th quarter. Harris Associates L P now owns 18,873,787 shares of the cable giant’s stock valued at $827,616,000 after buying an additional 1,854,671 shares during the period. LSV Asset Management boosted its stake in shares of Comcast by 3.8% in the fourth quarter. LSV Asset Management now owns 15,688,650 shares of the cable giant’s stock valued at $687,947,000 after purchasing an additional 570,050 shares during the period. Finally, Raymond James & Associates lifted its stake in shares of Comcast by 2.8% in the first quarter. Raymond James & Associates now owns 15,100,752 shares of the cable giant’s stock worth $654,617,000 after acquiring an additional 408,425 shares in the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Stock Up 2.5 %

Comcast stock traded up $0.97 during trading hours on Monday, hitting $39.26. The stock had a trading volume of 5,220,167 shares, compared to its average volume of 20,256,945. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.46. The stock has a market capitalization of $154.04 billion, a P/E ratio of 10.13, a price-to-earnings-growth ratio of 0.96 and a beta of 1.00. The stock’s 50-day moving average price is $38.49 and its 200-day moving average price is $40.92. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The business had revenue of $30.06 billion for the quarter, compared to the consensus estimate of $29.83 billion. During the same period last year, the firm earned $0.92 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Equities research analysts anticipate that Comcast Co. will post 4.21 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.24 annualized dividend and a yield of 3.16%. Comcast’s payout ratio is 32.80%.

Insider Activity

In related news, major shareholder Corp Comcast sold 3,176,923 shares of Comcast stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total value of $10,134,384.37. Following the completion of the sale, the insider now directly owns 2,000,000 shares in the company, valued at $6,380,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CMCSA. Macquarie lowered their price objective on Comcast from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. BNP Paribas downgraded Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 target price for the company. in a report on Tuesday, June 11th. Rosenblatt Securities reissued a “neutral” rating and set a $45.00 price target on shares of Comcast in a research report on Friday, April 26th. Evercore ISI decreased their target price on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, Seaport Res Ptn lowered shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 24th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $48.53.

About Comcast

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.