Obermeyer Wealth Partners Reduces Holdings in Comcast Corporation $CMCSA

Obermeyer Wealth Partners lowered its position in Comcast Corporation (NASDAQ:CMCSA) by 17.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 393,817 shares of the cable giant’s stock after selling 82,652 shares during the period. Obermeyer Wealth Partners’ holdings in Comcast were worth $12,374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of CMCSA. Capital A Wealth Management LLC raised its holdings in shares of Comcast by 173.7% in the second 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 last quarter. Cranbrook Wealth Management LLC raised its stake in Comcast by 86.0% during the 2nd 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 during the last quarter. Global Trust Asset Management LLC lifted its position in Comcast by 906.8% during the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after acquiring an additional 671 shares during the period. Avalon Trust Co increased 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, Howard Hughes Medical Institute purchased a new stake in shares of Comcast during the second quarter worth approximately $29,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Price Performance

Comcast stock opened at $28.48 on Wednesday. The firm has a market capitalization of $103.78 billion, a PE ratio of 4.74, a P/E/G ratio of 2.07 and a beta of 0.81. Comcast Corporation has a 52 week low of $25.75 and a 52 week high of $38.40. The firm’s 50-day simple moving average is $28.06 and its 200 day simple moving average is $30.92. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 30th. The cable giant reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. The company had revenue of $31.20 billion during the quarter, compared to analysts’ expectations of $30.74 billion. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.12 earnings per share. On average, equities research analysts predict that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 14th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, January 14th. This represents a $1.32 annualized dividend and a yield of 4.6%. Comcast’s dividend payout ratio (DPR) is presently 21.96%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CMCSA. Loop Capital dropped their price objective on shares of Comcast from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Williams Trading set a $40.00 price target on shares of Comcast in a report on Friday, October 31st. UBS Group set a $37.00 price objective on Comcast in a report on Monday. Weiss Ratings reissued a “hold (c-)” rating on shares of Comcast in a research note on Friday. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $30.00 price target (down from $39.00) on shares of Comcast in a research note on Friday, October 31st. Twelve analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Comcast currently has an average rating of “Hold” and an average target price of $34.98.

Comcast 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.