Meadow Creek Wealth Advisors LLC Lowers Stake in Comcast Co. (NASDAQ:CMCSA)

Meadow Creek Wealth Advisors LLC lessened its holdings in shares of Comcast Co. (NASDAQ:CMCSAGet Rating) by 32.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,830 shares of the cable giant’s stock after selling 4,756 shares during the period. Meadow Creek Wealth Advisors LLC’s holdings in Comcast were worth $460,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Comcast in the 3rd quarter worth approximately $26,000. AHL Investment Management Inc. purchased a new stake in Comcast in the fourth quarter valued at $30,000. Sandy Cove Advisors LLC purchased a new stake in Comcast in the fourth quarter valued at $31,000. Core Alternative Capital increased its stake in Comcast by 86.9% in the fourth quarter. Core Alternative Capital now owns 684 shares of the cable giant’s stock valued at $34,000 after purchasing an additional 318 shares during the period. Finally, Rise Advisors LLC acquired a new position in shares of Comcast during the fourth quarter worth about $36,000. 83.33% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CAO Daniel C. Murdock sold 8,929 shares of the company’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $44.50, for a total value of $397,340.50. Following the completion of the sale, the chief accounting officer now directly owns 1,817 shares of the company’s stock, valued at approximately $80,856.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.11% of the company’s stock.

Shares of NASDAQ:CMCSA opened at $38.90 on Thursday. Comcast Co. has a 52 week low of $37.56 and a 52 week high of $61.80. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.86 and a current ratio of 0.86. The company’s fifty day moving average is $42.48 and its 200-day moving average is $46.34. The company has a market capitalization of $176.34 billion, a PE ratio of 12.55, a P/E/G ratio of 0.80 and a beta of 0.96.

Comcast (NASDAQ:CMCSAGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The cable giant reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. The business had revenue of $31.01 billion for the quarter, compared to the consensus estimate of $30.40 billion. Comcast had a net margin of 11.96% and a return on equity of 15.92%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. On average, analysts forecast that Comcast Co. will post 3.62 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, July 5th. This represents a $1.08 dividend on an annualized basis and a yield of 2.78%. Comcast’s payout ratio is presently 34.84%.

Several equities analysts recently issued reports on the stock. Pivotal Research reduced their price objective on shares of Comcast from $62.00 to $57.00 in a research note on Thursday, April 28th. Truist Financial lowered shares of Comcast from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $70.00 to $50.00 in a research report on Tuesday, March 1st. Morgan Stanley lowered their price target on shares of Comcast from $60.00 to $55.00 in a report on Friday, April 29th. Barclays reduced their price objective on shares of Comcast from $56.00 to $48.00 in a research note on Friday, April 29th. Finally, Wolfe Research downgraded shares of Comcast from an “outperform” rating to a “peer perform” rating and reduced their price objective for the company from $63.00 to $50.00 in a research note on Thursday, June 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.38.

About Comcast (Get Rating)

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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