Modera Wealth Management LLC Lowers Holdings in Comcast Corporation $CMCSA

Modera Wealth Management LLC lowered its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 9.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 152,433 shares of the cable giant’s stock after selling 15,116 shares during the period. Modera Wealth Management LLC’s holdings in Comcast were worth $5,440,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Nuveen LLC purchased a new position in Comcast during the 1st quarter valued at about $940,015,000. Dodge & Cox lifted its position in shares of Comcast by 19.1% in the 1st quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant’s stock worth $3,476,635,000 after purchasing an additional 15,115,074 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Comcast by 1,959.3% during the first quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant’s stock valued at $488,140,000 after purchasing an additional 12,586,329 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Comcast by 119.1% during the first quarter. Acadian Asset Management LLC now owns 7,595,322 shares of the cable giant’s stock valued at $280,238,000 after buying an additional 4,128,434 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Comcast by 76.6% in the first quarter. The Manufacturers Life Insurance Company now owns 9,440,738 shares of the cable giant’s stock worth $348,363,000 after buying an additional 4,096,382 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Trading Up 0.1%

NASDAQ CMCSA opened at $27.35 on Friday. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $44.63. The company has a fifty day simple moving average of $30.76 and a two-hundred day simple moving average of $33.10. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock has a market cap of $100.98 billion, a P/E ratio of 4.55, a P/E/G ratio of 1.77 and a beta of 0.92.

Comcast (NASDAQ:CMCSA) last released its earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. Comcast had a return on equity of 18.06% and a net margin of 18.33%.The firm had revenue of $30.34 billion for the quarter. On average, analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 14th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, January 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.8%. Comcast’s payout ratio is 21.96%.

Analyst Ratings Changes

Several analysts have issued reports on CMCSA shares. Citigroup dropped their target price on Comcast from $39.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. TD Cowen dropped their price objective on Comcast from $46.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Scotiabank reduced their target price on shares of Comcast from $45.50 to $41.50 and set a “sector perform” rating for the company in a report on Friday, October 31st. Loop Capital decreased their price target on shares of Comcast from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Finally, Bank of America cut their price objective on shares of Comcast from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, September 29th. Ten investment analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $36.29.

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.