Peapack Gladstone Financial Corp Reduces Stock Holdings in Comcast Corporation $CMCSA

Peapack Gladstone Financial Corp decreased its holdings in Comcast Corporation (NASDAQ:CMCSA) by 20.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,712 shares of the cable giant’s stock after selling 20,877 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Comcast were worth $2,383,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMCSA. Brighton Jones LLC lifted its stake in Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock worth $6,240,000 after acquiring an additional 99,986 shares during the period. Voya Financial Advisors Inc. lifted its stake in Comcast by 3.2% in the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock worth $2,963,000 after acquiring an additional 2,593 shares during the period. United Bank lifted its stake in Comcast by 11.3% in the second quarter. United Bank now owns 42,216 shares of the cable giant’s stock worth $1,507,000 after acquiring an additional 4,290 shares during the period. HUB Investment Partners LLC lifted its stake in Comcast by 119.4% in the second quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock worth $606,000 after acquiring an additional 9,236 shares during the period. Finally, Diversify Advisory Services LLC lifted its stake in Comcast by 66.8% in the second quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant’s stock worth $1,414,000 after acquiring an additional 15,865 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $24.85 on Wednesday. Comcast Corporation has a 1-year low of $24.53 and a 1-year high of $36.66. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. The business has a fifty day moving average price of $27.18 and a 200-day moving average price of $28.53. The company has a market capitalization of $88.77 billion, a PE ratio of 4.89, a PEG ratio of 2.04 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The firm had revenue of $31.46 billion during the quarter, compared to the consensus estimate of $30.42 billion. During the same period last year, the company earned $1.09 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. As a group, equities analysts expect that Comcast Corporation will post 3.53 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 annualized dividend and a dividend yield of 5.3%. Comcast’s dividend payout ratio (DPR) is presently 25.98%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CMCSA. New Street Research dropped their price target on Comcast from $36.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comcast in a report on Wednesday, April 8th. Scotiabank increased their price objective on Comcast from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Evercore increased their price objective on Comcast from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Comcast in a report on Thursday, April 23rd. Nine analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $34.79.

Comcast Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.