Spire Wealth Management Sells 13,373 Shares of Comcast Corporation $CMCSA

Spire Wealth Management lowered its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 40.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,044 shares of the cable giant’s stock after selling 13,373 shares during the quarter. Spire Wealth Management’s holdings in Comcast were worth $715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Cranbrook Wealth Management LLC boosted its holdings in shares of Comcast by 86.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock valued at $27,000 after buying an additional 350 shares in the last quarter. Global Trust Asset Management LLC lifted its stake in shares of Comcast by 906.8% during the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after buying an additional 671 shares during the period. Abound Financial LLC purchased a new stake in shares of Comcast during the first quarter valued at $29,000. Ransom Advisory Ltd purchased a new stake in shares of Comcast during the first quarter valued at $29,000. Finally, Princeton Global Asset Management LLC increased its position in shares of Comcast by 403.5% in the 2nd quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant’s stock valued at $31,000 after acquiring an additional 686 shares during the period. 84.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CMCSA. Royal Bank Of Canada cut their price objective on Comcast from $38.00 to $32.00 and set a “sector perform” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Comcast from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, October 6th. UBS Group set a $34.00 price objective on Comcast in a report on Friday. Barclays lowered their target price on Comcast from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, August 1st. Finally, TD Cowen reduced their price target on Comcast from $46.00 to $40.00 and set a “buy” rating for the company in a research report on Friday. Eleven investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Comcast presently has an average rating of “Hold” and an average target price of $36.74.

Comcast Trading Up 1.9%

Shares of CMCSA stock opened at $27.83 on Friday. Comcast Corporation has a 1-year low of $25.75 and a 1-year high of $45.31. The company has a market cap of $102.75 billion, a price-to-earnings ratio of 4.63, a PEG ratio of 1.65 and a beta of 0.94. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.91. The stock has a 50 day simple moving average of $31.40 and a 200-day simple moving average of $33.32.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Monday, March 13th. The cable giant reported $0.77 EPS for the quarter. The company had revenue of $30.34 billion during the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. On average, equities research analysts expect that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 14th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.7%. The ex-dividend date is Wednesday, January 14th. Comcast’s payout ratio is 21.82%.

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.