Bartlett & CO. Wealth Management LLC Has $2.87 Million Stock Position in Comcast Corporation (NASDAQ:CMCSA)

Bartlett & CO. Wealth Management LLC reduced its stake in Comcast Corporation (NASDAQ:CMCSA) by 29.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,774 shares of the cable giant’s stock after selling 32,257 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Comcast were worth $2,870,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Promus Capital LLC bought a new position in shares of Comcast in the 4th quarter worth $25,000. Inlight Wealth Management LLC bought a new position in Comcast during the first quarter worth about $26,000. Retirement Wealth Solutions LLC lifted its holdings in Comcast by 126.9% during the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant’s stock worth $30,000 after acquiring an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new position in Comcast during the fourth quarter worth about $33,000. Finally, Global Wealth Strategies & Associates lifted its holdings in Comcast by 203.4% during the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant’s stock worth $33,000 after acquiring an additional 600 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CMCSA has been the topic of several recent analyst reports. KeyCorp reduced their target price on Comcast from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Oppenheimer reduced their target price on Comcast from $55.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Wells Fargo & Company downgraded Comcast from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $37.00 to $31.00 in a research note on Monday, April 14th. Citigroup dropped their price target on Comcast from $44.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $36.00 price target on shares of Comcast in a research note on Monday, April 28th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Comcast presently has a consensus rating of “Moderate Buy” and an average target price of $42.10.

Comcast Price Performance

Comcast stock opened at $35.32 on Friday. The company has a market capitalization of $131.87 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 1.70 and a beta of 0.95. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.06. Comcast Corporation has a 12 month low of $31.44 and a 12 month high of $45.31. The stock’s 50 day moving average is $34.61 and its 200-day moving average is $35.64.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The company had revenue of $29.89 billion for the quarter, compared to analyst estimates of $29.82 billion. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 earnings per share. Equities research analysts expect that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast’s dividend payout ratio is currently 32.43%.

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.