Comcast Co. (NASDAQ:CMCSA) Shares Sold by Resurgent Financial Advisors LLC

Resurgent Financial Advisors LLC lessened its stake in Comcast Co. (NASDAQ:CMCSA) by 56.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,491 shares of the cable giant’s stock after selling 12,405 shares during the quarter. Resurgent Financial Advisors LLC’s holdings in Comcast were worth $411,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BKM Wealth Management LLC purchased a new stake in shares of Comcast during the 4th quarter valued at approximately $1,035,000. Advisor Resource Council acquired a new position in shares of Comcast in the 4th quarter valued at $241,000. GPS Wealth Strategies Group LLC grew its holdings in shares of Comcast by 3.1% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 17,093 shares of the cable giant’s stock worth $750,000 after purchasing an additional 509 shares during the period. HB Wealth Management LLC raised its holdings in Comcast by 2.7% in the 4th quarter. HB Wealth Management LLC now owns 239,523 shares of the cable giant’s stock valued at $10,503,000 after buying an additional 6,404 shares during the period. Finally, Compagnie Lombard Odier SCmA lifted its position in Comcast by 320.5% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 52,075 shares of the cable giant’s stock valued at $2,283,000 after buying an additional 39,690 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Evercore ISI cut their target price on Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Rosenblatt Securities reissued a “neutral” rating and set a $45.00 target price on shares of Comcast in a research note on Friday, April 26th. BNP Paribas cut Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 target price for the company. in a report on Tuesday, June 11th. Seaport Res Ptn lowered shares of Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. Finally, Macquarie lowered their price objective on shares of Comcast from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Comcast presently has an average rating of “Hold” and an average price target of $48.53.

Insiders Place Their Bets

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the transaction, the insider now owns 2,000,000 shares of the company’s stock, valued at $6,380,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.26% of the stock is currently owned by insiders.

Comcast Stock Performance

Comcast stock traded down $0.74 during midday trading on Tuesday, hitting $38.79. 19,315,150 shares of the company’s stock were exchanged, compared to its average volume of 20,414,650. The firm’s 50 day simple moving average is $38.60 and its 200 day simple moving average is $40.76. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.46. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market cap of $152.20 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 1.00 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The company had revenue of $30.06 billion during the quarter, compared to analysts’ expectations of $29.83 billion. During the same period last year, the firm earned $0.92 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities research analysts predict that Comcast Co. will post 4.21 EPS for the current year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Wednesday, July 3rd. Comcast’s dividend payout ratio is presently 32.80%.

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.