GeoWealth Management LLC Trims Stake in Comcast Co. (NASDAQ:CMCSA)

GeoWealth Management LLC reduced its position in Comcast Co. (NASDAQ:CMCSA) by 7.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,183 shares of the cable giant’s stock after selling 1,913 shares during the quarter. GeoWealth Management LLC’s holdings in Comcast were worth $870,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in Comcast in the 4th quarter valued at about $3,835,226,000. Geode Capital Management LLC boosted its holdings in shares of Comcast by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant’s stock valued at $3,212,244,000 after purchasing an additional 1,006,272 shares during the period. Dodge & Cox increased its holdings in Comcast by 6.8% during the 4th quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant’s stock worth $2,968,723,000 after purchasing an additional 5,039,823 shares during the period. Invesco Ltd. raised its position in Comcast by 11.5% during the 4th quarter. Invesco Ltd. now owns 45,175,969 shares of the cable giant’s stock valued at $1,695,454,000 after purchasing an additional 4,669,069 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in shares of Comcast by 7.1% in the 4th quarter. First Eagle Investment Management LLC now owns 34,101,077 shares of the cable giant’s stock worth $1,279,813,000 after buying an additional 2,270,186 shares during the period. Institutional investors own 84.32% of the company’s stock.

Comcast Trading Up 1.2 %

NASDAQ CMCSA opened at $33.96 on Friday. The company has a fifty day moving average of $35.51 and a 200 day moving average of $38.30. The company has a market capitalization of $128.40 billion, a PE ratio of 8.18, a P/E/G ratio of 1.78 and a beta of 0.94. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.68. Comcast Co. has a 1 year low of $32.20 and a 1 year high of $45.31.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, beating 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%. Research analysts forecast that Comcast Co. will post 4.33 earnings per share for the current year.

Comcast Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 2nd will be given a $0.33 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.89%. This is an increase from Comcast’s previous quarterly dividend of $0.31. Comcast’s dividend payout ratio is 31.81%.

Analyst Ratings Changes

CMCSA has been the subject of several recent research reports. StockNews.com upgraded Comcast from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 27th. Citigroup reduced their price target on shares of Comcast from $47.00 to $44.00 and set a “buy” rating for the company in a report on Friday, January 31st. Barclays dropped their price objective on shares of Comcast from $42.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Scotiabank upped their target price on Comcast from $44.50 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 8th. Finally, Rosenblatt Securities cut their price target on Comcast from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Comcast has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

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.