Comcast Co. (NASDAQ:CMCSA) Holdings Cut by Circle Wealth Management LLC

Circle Wealth Management LLC cut its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,894 shares of the cable giant’s stock after selling 2,606 shares during the quarter. Circle Wealth Management LLC’s holdings in Comcast were worth $1,792,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Fairscale Capital LLC bought a new position in Comcast in the 2nd quarter worth about $26,000. Strategic Financial Concepts LLC bought a new stake in shares of Comcast during the second quarter valued at approximately $27,000. IAG Wealth Partners LLC boosted its position in shares of Comcast by 204.7% during the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after buying an additional 522 shares during the period. McClarren Financial Advisors Inc. grew its holdings in Comcast by 365.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after buying an additional 570 shares in the last quarter. Finally, Archer Investment Corp increased its position in Comcast by 177.1% in the 2nd quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock valued at $32,000 after acquiring an additional 519 shares during the period. Institutional investors own 84.32% of the company’s stock.

Insider Activity at Comcast

In other news, CEO Brian L. Roberts sold 234,464 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the sale, the chief executive officer now directly owns 6,669,928 shares in the company, valued at approximately $284,539,128.48. The trade was a 3.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael J. Cavanagh sold 25,537 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the sale, the president now owns 534,849 shares of the company’s stock, valued at $22,779,218.91. This trade represents a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is owned by company insiders.

Comcast Stock Performance

Shares of CMCSA opened at $43.19 on Friday. The company has a market capitalization of $165.27 billion, a PE ratio of 11.61, a PEG ratio of 1.61 and a beta of 1.00. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72. The company’s 50 day moving average price is $42.29 and its 200 day moving average price is $40.17. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The business had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. During the same period last year, the company earned $1.08 earnings per share. Comcast’s quarterly revenue was up 6.5% compared to the same quarter last year. Research analysts expect that Comcast Co. will post 4.26 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.87%. Comcast’s dividend payout ratio is currently 33.33%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. StockNews.com raised Comcast from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Scotiabank upgraded shares of Comcast from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $47.75 to $48.00 in a research report on Friday, November 1st. Rosenblatt Securities restated a “neutral” rating and set a $45.00 price target on shares of Comcast in a research report on Wednesday, November 6th. Macquarie raised their price objective on shares of Comcast from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Finally, TD Cowen cut their target price on Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.19.

About Comcast

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.