Oak Asset Management LLC Decreases Holdings in Comcast Corporation $CMCSA

Oak Asset Management LLC trimmed its holdings in Comcast Corporation (NASDAQ:CMCSA) by 35.1% in the fourth quarter, HoldingsChannel reports. The fund owned 48,239 shares of the cable giant’s stock after selling 26,033 shares during the period. Oak Asset Management LLC’s holdings in Comcast were worth $1,442,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CMCSA. Capital A Wealth Management LLC raised its position in Comcast by 173.7% in the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock worth $25,000 after purchasing an additional 436 shares during the period. Imprint Wealth LLC purchased a new stake in Comcast during the third quarter valued at about $26,000. United Financial Planning Group LLC purchased a new stake in Comcast during the third quarter valued at about $28,000. Howard Hughes Medical Institute bought a new position in shares of Comcast during the second quarter valued at about $29,000. Finally, Olistico Wealth LLC purchased a new position in shares of Comcast in the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Down 1.4%

NASDAQ CMCSA opened at $28.33 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $101.93 billion, a PE ratio of 5.28, a PEG ratio of 2.26 and a beta of 0.79. Comcast Corporation has a 1 year low of $25.75 and a 1 year high of $37.48. The business’s 50-day moving average is $30.31 and its 200 day moving average is $29.55.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The business had revenue of $32.31 billion during the quarter, compared to analyst estimates of $32.35 billion. During the same quarter in the prior year, the company posted $0.96 EPS. Comcast’s quarterly revenue was up 1.2% compared to the same quarter last year. Sell-side analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.7%. Comcast’s payout ratio is 24.58%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CMCSA shares. BNP Paribas Exane lowered their target price on Comcast from $27.00 to $26.00 and set an “underperform” rating for the company in a research note on Thursday. Morgan Stanley decreased their price target on Comcast from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 10th. Benchmark lowered their price objective on Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Deutsche Bank Aktiengesellschaft dropped their price objective on Comcast from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Finally, Arete Research set a $23.00 target price on shares of Comcast in a report on Tuesday, January 6th. Ten investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $34.76.

Insider Activity at Comcast

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following the completion of the sale, the chief executive officer owned 622,336 shares of the company’s stock, valued at $20,325,493.76. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.32% of the stock is currently owned by corporate insiders.

Comcast Profile

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.