Sculati Wealth Management LLC Sells 4,721 Shares of Comcast Co. (NASDAQ:CMCSA)

Sculati Wealth Management LLC lowered its position in Comcast Co. (NASDAQ:CMCSA) by 16.9% in the third quarter, Holdings Channel.com reports. The fund owned 23,202 shares of the cable giant’s stock after selling 4,721 shares during the period. Sculati Wealth Management LLC’s holdings in Comcast were worth $1,006,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Fairscale Capital LLC acquired a new position in Comcast in the second quarter worth about $26,000. Strategic Financial Concepts LLC bought a new stake in shares of Comcast in the 2nd quarter valued at approximately $27,000. McClarren Financial Advisors Inc. raised its holdings in shares of 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. Safe Harbor Fiduciary LLC bought a new stake in Comcast in the third quarter valued at $30,000. Finally, Archer Investment Corp raised its stake in Comcast by 177.1% during the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after acquiring an additional 519 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Trading Up 0.5 %

Shares of NASDAQ CMCSA opened at $39.71 on Thursday. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.11. The firm has a market capitalization of $151.95 billion, a P/E ratio of 10.67, a P/E/G ratio of 1.63 and a beta of 0.99. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. The company’s 50 day simple moving average is $42.35 and its 200 day simple moving average is $40.31.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The company had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. During the same quarter in the prior year, the business posted $1.08 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. On average, analysts predict that Comcast Co. will post 4.26 EPS for the current year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be given a dividend of $0.31 per share. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.12%. Comcast’s payout ratio is currently 33.33%.

Insider Activity

In other Comcast news, CEO Brian L. Roberts sold 234,464 shares of Comcast stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Michael J. Cavanagh sold 25,537 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total value of $1,087,620.83. Following the completion of 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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several analyst reports. StockNews.com lowered shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 4th. Scotiabank raised shares of Comcast from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $47.75 to $48.00 in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Pivotal Research increased their price target on Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, TD Cowen cut their price objective 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 research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.19.

Comcast Profile

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.