Valley Wealth Managers Inc. Cuts Holdings in Comcast Co. (NASDAQ:CMCSA)

Valley Wealth Managers Inc. reduced its position in shares of Comcast Co. (NASDAQ:CMCSA) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,128 shares of the cable giant’s stock after selling 534 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Comcast were worth $3,307,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. AMF Tjanstepension AB increased its position in Comcast by 18.9% during the third quarter. AMF Tjanstepension AB now owns 832,594 shares of the cable giant’s stock worth $34,810,000 after purchasing an additional 132,442 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Comcast by 6.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 1,040,565 shares of the cable giant’s stock worth $43,464,000 after buying an additional 58,785 shares during the last quarter. Chicago Capital LLC raised its position in shares of Comcast by 5.3% during the 3rd quarter. Chicago Capital LLC now owns 23,226 shares of the cable giant’s stock valued at $970,000 after buying an additional 1,177 shares during the period. Resonant Capital Advisors LLC lifted its holdings in Comcast by 2.6% in the third quarter. Resonant Capital Advisors LLC now owns 19,659 shares of the cable giant’s stock valued at $821,000 after acquiring an additional 491 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC grew its position in Comcast by 33.0% in the third quarter. Cyndeo Wealth Partners LLC now owns 11,099 shares of the cable giant’s stock worth $464,000 after acquiring an additional 2,751 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Up 0.0 %

CMCSA stock opened at $35.39 on Tuesday. Comcast Co. has a 12 month low of $32.50 and a 12 month high of $45.31. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.72. The company’s 50 day simple moving average is $36.93 and its 200-day simple moving average is $39.70. The firm has a market capitalization of $133.81 billion, a PE ratio of 8.53, a P/E/G ratio of 1.69 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. Equities analysts expect that Comcast Co. will post 4.33 earnings per share for the current fiscal year.

Comcast Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 2nd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This is an increase from Comcast’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.73%. Comcast’s payout ratio is 29.88%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of Comcast from $45.00 to $37.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Benchmark decreased their price target on Comcast from $57.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Macquarie lowered their price target on Comcast from $42.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Rosenblatt Securities decreased their target price on Comcast from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Finally, Bank of America cut Comcast from a “buy” rating to a “neutral” rating and lowered their target price for the company from $50.00 to $38.00 in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Comcast presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.13.

Insider Activity

In other news, 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 completion of the transaction, the president now owns 534,849 shares of the company’s stock, valued at $22,779,218.91. This represents a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian L. Roberts sold 234,464 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 6,669,928 shares in the company, valued at $284,539,128.48. This represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.

Comcast Company 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.