SouthState Corp Cuts Stake in Comcast Co. (NASDAQ:CMCSA)

SouthState Corp reduced its position in Comcast Co. (NASDAQ:CMCSA) by 10.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,102 shares of the cable giant’s stock after selling 8,936 shares during the quarter. SouthState Corp’s holdings in Comcast were worth $2,931,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Promus Capital LLC purchased a new position in Comcast in the fourth quarter worth $25,000. Winch Advisory Services LLC grew its holdings in shares of Comcast by 269.9% during the fourth quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant’s stock valued at $26,000 after buying an additional 502 shares during the last quarter. Roxbury Financial LLC purchased a new stake in shares of Comcast during the fourth quarter valued at $27,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Comcast during the fourth quarter valued at $28,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in shares of Comcast during the third quarter valued at $30,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Stock Up 2.1 %

CMCSA opened at $35.43 on Monday. Comcast Co. has a twelve month low of $32.50 and a twelve month high of $45.31. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09. The company has a 50-day moving average price of $35.92 and a 200 day moving average price of $39.19. The company has a market cap of $133.96 billion, a PE ratio of 8.54, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. Sell-side analysts expect that Comcast Co. will post 4.33 earnings per share for the current fiscal year.

Comcast Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Wednesday, April 2nd. This is a boost from Comcast’s previous quarterly dividend of $0.31. Comcast’s dividend payout ratio is currently 31.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CMCSA shares. Macquarie dropped their price objective on shares of Comcast from $42.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Benchmark dropped their price objective on shares of Comcast from $57.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, January 31st. StockNews.com upgraded shares of Comcast from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 27th. Scotiabank downgraded shares of Comcast from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $48.00 to $44.50 in a research report on Monday, February 3rd. Finally, Evercore ISI upgraded shares of Comcast to a “strong-buy” rating in a research report on Thursday, November 21st. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.83.

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.