Comcast Corporation $CMCSA Shares Sold by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC cut its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 81.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,796 shares of the cable giant’s stock after selling 38,560 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Comcast were worth $263,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CMCSA. Imprint Wealth LLC purchased a new stake in shares of Comcast in the 3rd quarter worth about $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Comcast in the 4th quarter worth about $27,000. United Financial Planning Group LLC purchased a new stake in shares of Comcast in the 3rd quarter worth about $28,000. Olistico Wealth LLC purchased a new stake in shares of Comcast in the 4th quarter worth about $29,000. Finally, Richardson Financial Services Inc. boosted its position in shares of Comcast by 212.6% in the 4th quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock worth $30,000 after buying an additional 691 shares in the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Comcast from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Friday, April 24th. Rosenblatt Securities reiterated a “neutral” rating and issued a $30.00 price objective on shares of Comcast in a research report on Friday, January 30th. KeyCorp reiterated a “sector weight” rating on shares of Comcast in a research report on Thursday, April 23rd. Citigroup boosted their price objective on shares of Comcast from $33.00 to $35.50 and gave the stock a “buy” rating in a research report on Friday, April 24th. Finally, BNP Paribas Exane reduced their target price on shares of Comcast from $26.00 to $25.00 and set an “underperform” rating on the stock in a report on Wednesday, April 8th. Nine equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Comcast currently has an average rating of “Hold” and a consensus price target of $34.79.

Comcast Stock Performance

Shares of CMCSA opened at $25.22 on Thursday. The business’s fifty day moving average price is $27.43 and its 200 day moving average price is $28.58. Comcast Corporation has a 12-month low of $24.53 and a 12-month high of $36.66. The stock has a market capitalization of $90.09 billion, a PE ratio of 4.96, a price-to-earnings-growth ratio of 2.02 and a beta of 0.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. The company had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $1.09 earnings per share. Equities research analysts forecast that Comcast Corporation will post 3.58 EPS for the current year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast’s dividend payout ratio (DPR) is 25.98%.

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.