World Asset Management Inc cut its stake in Comcast Co. (NASDAQ:CMCSA) by 3.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 132,279 shares of the cable giant’s stock after selling 4,469 shares during the quarter. Comcast makes up approximately 0.7% of World Asset Management Inc’s investment portfolio, making the stock its 23rd largest position. World Asset Management Inc’s holdings in Comcast were worth $7,543,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Total Clarity Wealth Management Inc. acquired a new position in shares of Comcast during the 1st quarter worth approximately $79,000. Ausdal Financial Partners Inc. raised its stake in shares of Comcast by 3.6% during the 1st quarter. Ausdal Financial Partners Inc. now owns 13,680 shares of the cable giant’s stock worth $740,000 after buying an additional 469 shares during the period. Destination Wealth Management acquired a new position in shares of Comcast during the 1st quarter worth approximately $275,000. Interchange Capital Partners LLC raised its stake in shares of Comcast by 15.5% during the 1st quarter. Interchange Capital Partners LLC now owns 8,840 shares of the cable giant’s stock worth $496,000 after buying an additional 1,188 shares during the period. Finally, Wade G W & Inc. raised its stake in shares of Comcast by 31.8% during the 1st quarter. Wade G W & Inc. now owns 31,673 shares of the cable giant’s stock worth $1,714,000 after buying an additional 7,642 shares during the period. 82.49% of the stock is owned by institutional investors.
Several research analysts have recently weighed in on CMCSA shares. HSBC upped their target price on Comcast from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, May 24th. Deutsche Bank Aktiengesellschaft upped their target price on Comcast from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, July 30th. Redburn Partners assumed coverage on Comcast in a research note on Friday, June 25th. They issued a “buy” rating and a $70.00 price objective for the company. Truist increased their price objective on Comcast from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 30th. Finally, Wells Fargo & Company set a $57.55 price objective on Comcast and gave the company a “sell” rating in a research note on Monday, July 19th. One research analyst has rated the stock with a sell rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $64.93.
Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, July 29th. The cable giant reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.17. The business had revenue of $28.55 billion during the quarter, compared to analysts’ expectations of $27.14 billion. Comcast had a return on equity of 14.15% and a net margin of 11.44%. As a group, equities analysts predict that Comcast Co. will post 3.14 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 27th. Stockholders of record on Wednesday, October 6th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Tuesday, October 5th. Comcast’s dividend payout ratio is presently 38.31%.
Comcast Company Profile
Comcast Corp. is a media, entertainment, and communications company, which engages in the provision of video, Internet, and phone services. It operates through the following segments: Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks and Sky. The Cable Communications segment provides video, Internet, voice, and security and automation services under the Xfinity brand.
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