JGP Wealth Management LLC Sells 170,426 Shares of Comcast Corporation $CMCSA

JGP Wealth Management LLC cut its stake in Comcast Corporation (NASDAQ:CMCSA) by 96.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,876 shares of the cable giant’s stock after selling 170,426 shares during the period. JGP Wealth Management LLC’s holdings in Comcast were worth $209,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Capital A Wealth Management LLC boosted its position in Comcast by 173.7% in the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after buying an additional 436 shares during the period. Cranbrook Wealth Management LLC raised its stake in shares of Comcast by 86.0% during the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock valued at $27,000 after acquiring an additional 350 shares in the last quarter. Global Trust Asset Management LLC boosted its holdings in shares of Comcast by 906.8% in the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 671 shares during the period. Avalon Trust Co boosted its holdings in shares of Comcast by 433.3% in the second quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 624 shares during the period. Finally, Ransom Advisory Ltd bought a new position in Comcast in the first quarter worth approximately $29,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of Comcast stock opened at $29.74 on Friday. The company has a market capitalization of $108.37 billion, a PE ratio of 4.95, a P/E/G ratio of 2.05 and a beta of 0.83. The company has a 50-day simple moving average of $28.01 and a two-hundred day simple moving average of $31.51. Comcast Corporation has a one year low of $25.75 and a one year high of $38.46. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The firm had revenue of $30.34 billion for the quarter. Research analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 14th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, January 14th. Comcast’s payout ratio is currently 21.96%.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $30.00 target price (down from $39.00) on shares of Comcast in a research report on Friday, October 31st. Moffett Nathanson cut their price target on Comcast from $58.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. BNP Paribas Exane upped their price objective on shares of Comcast from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, December 19th. Seaport Res Ptn cut shares of Comcast from a “strong-buy” rating to a “hold” rating in a report on Friday, October 31st. Finally, KeyCorp downgraded shares of Comcast from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 30th. Eleven research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Comcast currently has an average rating of “Hold” and a consensus target price of $35.92.

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.