Axxcess Wealth Management LLC Decreases Stake in Comcast Co. (NASDAQ:CMCSA)

Axxcess Wealth Management LLC trimmed its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 5.5% during the fourth quarter, Holdings Channel reports. The fund owned 114,369 shares of the cable giant’s stock after selling 6,696 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Comcast were worth $4,292,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CMCSA. Raymond James Financial Inc. acquired a new position in Comcast in the fourth quarter worth about $743,681,000. Amundi grew its position in shares of Comcast by 147.9% in the 4th quarter. Amundi now owns 24,086,671 shares of the cable giant’s stock worth $895,499,000 after acquiring an additional 14,369,056 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of Comcast by 55,334.5% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 8,273,052 shares of the cable giant’s stock valued at $345,565,000 after acquiring an additional 8,258,128 shares during the last quarter. FMR LLC raised its position in shares of Comcast by 5.4% during the 3rd quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock valued at $4,904,647,000 after acquiring an additional 6,062,658 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in Comcast by 530.5% during the third quarter. Public Sector Pension Investment Board now owns 3,429,298 shares of the cable giant’s stock worth $143,242,000 after purchasing an additional 2,885,370 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analysts Set New Price Targets

CMCSA has been the topic of a number of research reports. Loop Capital dropped their target price on shares of Comcast from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. The Goldman Sachs Group decreased their target price on Comcast from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. dropped their price target on Comcast from $45.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Morgan Stanley reduced their price objective on Comcast from $45.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Finally, Macquarie dropped their target price on Comcast from $42.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Comcast presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.83.

Comcast Trading Up 0.7 %

Shares of Comcast stock opened at $36.01 on Wednesday. The business has a fifty day simple moving average of $35.86 and a 200-day simple moving average of $39.14. The firm has a market cap of $136.15 billion, a price-to-earnings ratio of 8.68, a price-to-earnings-growth 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 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 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. On average, equities analysts forecast that Comcast Co. will post 4.33 EPS for the current fiscal year.

Comcast Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 2nd will be issued a $0.33 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $1.32 annualized dividend and a dividend yield of 3.67%. This is a boost from Comcast’s previous quarterly dividend of $0.31. Comcast’s dividend payout ratio is currently 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.