Journey Strategic Wealth LLC Trims Position in Comcast Corporation $CMCSA

Journey Strategic Wealth LLC lessened its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 64.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,404 shares of the cable giant’s stock after selling 17,227 shares during the quarter. Journey Strategic Wealth LLC’s holdings in Comcast were worth $295,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock worth $6,240,000 after buying an additional 99,986 shares during the period. Voya Financial Advisors Inc. grew its holdings in shares of Comcast by 3.2% during the 2nd quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock worth $2,963,000 after acquiring an additional 2,593 shares during the period. United Bank raised its position in shares of Comcast by 11.3% in the 2nd quarter. United Bank now owns 42,216 shares of the cable giant’s stock worth $1,507,000 after acquiring an additional 4,290 shares in the last quarter. Cassaday & Co Wealth Management LLC lifted its stake in shares of Comcast by 5.2% in the 2nd quarter. Cassaday & Co Wealth Management LLC now owns 14,974 shares of the cable giant’s stock valued at $534,000 after purchasing an additional 735 shares during the period. Finally, Asahi Life Asset Management CO. LTD. boosted its position in shares of Comcast by 5.6% during the second quarter. Asahi Life Asset Management CO. LTD. now owns 16,880 shares of the cable giant’s stock valued at $602,000 after purchasing an additional 890 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the sale, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at $20,325,493.76. This trade represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CMCSA shares. Citigroup reiterated a “buy” rating and issued a $33.00 price objective (up from $32.79) on shares of Comcast in a report on Friday, January 30th. Barclays set a $28.00 price target on shares of Comcast and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. BNP Paribas Exane cut shares of Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 price target for the company. in a research report on Tuesday, February 24th. TD Cowen cut their price objective on shares of Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Finally, UBS Group lowered their target price on shares of Comcast from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, January 30th. Ten analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $34.87.

Comcast Trading Up 3.5%

Shares of NASDAQ CMCSA opened at $32.09 on Thursday. The firm’s 50 day moving average price is $29.97 and its 200-day moving average price is $29.99. The company has a market cap of $115.46 billion, a PE ratio of 5.98, a P/E/G ratio of 2.42 and a beta of 0.79. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $37.97. 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 announced its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. The company had revenue of $32.31 billion during the quarter, compared to the consensus estimate of $32.35 billion. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.96 earnings per share. On average, equities research analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be paid a $0.33 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. Comcast’s payout ratio is currently 24.58%.

Comcast Company Profile

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.