Centricity Wealth Management LLC Takes Position in Comcast Co. (NASDAQ:CMCSA)

Centricity Wealth Management LLC purchased a new stake in Comcast Co. (NASDAQ:CMCSA) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 2,707 shares of the cable giant’s stock, valued at approximately $102,000.

Other institutional investors also recently modified their holdings of the company. Taurus Asset Management LLC raised its holdings in Comcast by 2.9% in 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 in the last quarter. Abich Financial Wealth Management LLC increased 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 purchasing an additional 260 shares during the period. Arvest Investments Inc. raised its stake in Comcast by 1.0% in the third quarter. Arvest Investments Inc. now owns 27,211 shares of the cable giant’s stock valued at $1,137,000 after purchasing an additional 268 shares in the last quarter. McIlrath & Eck LLC lifted its position in Comcast by 14.8% during the third quarter. McIlrath & Eck LLC now owns 2,183 shares of the cable giant’s stock worth $91,000 after purchasing an additional 282 shares during the period. Finally, Mengis Capital Management Inc. grew its stake in Comcast by 1.5% during the third quarter. Mengis Capital Management Inc. now owns 19,060 shares of the cable giant’s stock worth $796,000 after buying an additional 283 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Evercore ISI raised shares of Comcast to a “strong-buy” rating in a report on Thursday, November 21st. Wells Fargo & Company lowered their price target on Comcast from $45.00 to $37.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Barclays reduced their price objective on Comcast from $42.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. lowered their target price on Comcast from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Finally, Morgan Stanley reduced their price target on shares of Comcast from $45.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.13.

Comcast Trading Down 0.2 %

CMCSA opened at $36.41 on Friday. The company has a market cap of $137.67 billion, a P/E ratio of 8.77, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00. The company has a fifty day moving average price of $36.65 and a two-hundred day moving average price of $39.60. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09. Comcast Co. has a 1-year low of $32.50 and a 1-year high of $45.31.

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

Comcast Increases Dividend

The business also recently announced 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. This is a boost from Comcast’s previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, April 2nd. This represents a $1.32 annualized dividend and a dividend yield of 3.63%. Comcast’s payout ratio is presently 29.88%.

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.