Comcast Co. (NASDAQ:CMCSA) Shares Sold by Sequoia Financial Advisors LLC

Posted by on Mar 26th, 2023

Sequoia Financial Advisors LLC lowered its stake in shares of Comcast Co. (NASDAQ:CMCSA – Get Rating) by 68.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,777 shares of the cable giant’s stock after selling 154,154 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Comcast were worth $2,510,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Piershale Financial Group Inc. acquired a new position in Comcast during the 4th quarter worth $37,000. Mach 1 Financial Group LLC acquired a new position in Comcast during the 3rd quarter worth $31,000. Cowa LLC acquired a new position in Comcast during the 3rd quarter worth $36,000. TD Capital Management LLC acquired a new position in Comcast during the 3rd quarter worth $38,000. Finally, McElhenny Sheffield Capital Management LLC bought a new stake in shares of Comcast in the 4th quarter worth $45,000. Institutional investors and hedge funds own 82.23% of the company’s stock.

Analyst Upgrades and Downgrades

CMCSA has been the topic of a number of research reports. Barclays boosted their price objective on Comcast from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 2nd. Truist Financial raised Comcast from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Thursday, January 5th. TD Securities dropped their price objective on Comcast from $60.00 to $56.00 and set a “buy” rating on the stock in a research note on Friday, January 27th. Bank of America reissued a “neutral” rating and issued a $44.00 price objective on shares of Comcast in a research note on Tuesday, February 28th. Finally, JPMorgan Chase & Co. boosted their price objective on Comcast from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, January 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Comcast currently has an average rating of “Hold” and a consensus price target of $44.29.

Insider Buying and Selling at Comcast

In other Comcast news, major shareholder Corp Comcast sold 37,176 shares of the business’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $2.03, for a total value of $75,467.28. Following the transaction, the insider now owns 19,507,693 shares in the company, valued at $39,600,616.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 7,527,791 shares of company stock worth $19,025,007 over the last 90 days. 1.11% of the stock is currently owned by corporate insiders.

Comcast Stock Down 0.1 %

NASDAQ:CMCSA opened at $35.92 on Friday. The firm has a market capitalization of $151.44 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 0.77 and a beta of 1.00. Comcast Co. has a 1-year low of $28.39 and a 1-year high of $48.42. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.20. The business’s fifty day moving average price is $37.99 and its 200 day moving average price is $35.11.

Comcast (NASDAQ:CMCSA – Get Rating) last posted its quarterly earnings results on Thursday, January 26th. The cable giant reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.04. Comcast had a return on equity of 18.40% and a net margin of 4.42%. The firm had revenue of $30.55 billion for the quarter, compared to analyst estimates of $30.36 billion. During the same period in the previous year, the firm earned $0.77 earnings per share. Comcast’s quarterly revenue was up .7% on a year-over-year basis. On average, sell-side analysts forecast that Comcast Co. will post 3.64 earnings per share for the current fiscal year.

Comcast Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 26th. Shareholders of record on Wednesday, April 5th will be paid a $0.29 dividend. The ex-dividend date is Tuesday, April 4th. This represents a $1.16 dividend on an annualized basis and a yield of 3.23%. This is an increase from Comcast’s previous quarterly dividend of $0.27. Comcast’s payout ratio is 90.76%.

Comcast Company Profile

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Comcast Corp. engages in the provision of video, Internet, and phone services. It operates through the following segments: Cable Communications, Media, Studios, Theme Parks, and Sky. The Cable Communications segment consists of Comcast Cable, which is a provider of broadband, video, voice, wireless, and other services to residential customers in the United States under the Xfinity brand.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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