LVW Advisors LLC Trims Stake in Comcast Co. (NASDAQ:CMCSA)

LVW Advisors LLC lessened its stake in Comcast Co. (NASDAQ:CMCSA) by 26.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,745 shares of the cable giant’s stock after selling 5,169 shares during the period. LVW Advisors LLC’s holdings in Comcast were worth $577,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Wealthspire Advisors LLC boosted its stake in Comcast by 4.8% in the 4th quarter. Wealthspire Advisors LLC now owns 60,650 shares of the cable giant’s stock worth $2,659,000 after purchasing an additional 2,781 shares in the last quarter. Desjardins Global Asset Management Inc. increased its holdings in shares of Comcast by 1.5% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock valued at $4,438,000 after purchasing an additional 1,486 shares in the last quarter. Brevan Howard Capital Management LP purchased a new stake in Comcast in the 4th quarter worth $2,056,000. Axxcess Wealth Management LLC increased its holdings in Comcast by 10.5% in the 4th quarter. Axxcess Wealth Management LLC now owns 115,503 shares of the cable giant’s stock worth $5,065,000 after acquiring an additional 10,936 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in Comcast by 3.4% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 11,304,304 shares of the cable giant’s stock worth $495,694,000 after purchasing an additional 368,685 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Insider Activity at Comcast

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total value of $10,134,384.37. Following the completion of the transaction, the insider now owns 2,000,000 shares in the company, valued at approximately $6,380,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.26% of the stock is currently owned by insiders.

Comcast Stock Up 0.5 %

Shares of NASDAQ CMCSA traded up $0.20 during trading hours on Tuesday, hitting $38.73. The company had a trading volume of 1,393,394 shares, compared to its average volume of 20,329,115. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. The firm’s 50 day moving average is $38.70 and its 200-day moving average is $40.34. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.46. The stock has a market capitalization of $151.96 billion, a P/E ratio of 10.19, a price-to-earnings-growth ratio of 1.07 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. The business had revenue of $29.69 billion during the quarter, compared to the consensus estimate of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. Comcast’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 earnings per share. On average, analysts expect that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s payout ratio is currently 32.80%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CMCSA shares. Macquarie restated a “neutral” rating and issued a $40.00 price objective on shares of Comcast in a report on Wednesday, July 24th. Pivotal Research reduced their price target on shares of Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. BNP Paribas downgraded shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price objective for the company. in a research report on Tuesday, June 11th. Citigroup lowered their target price on Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Finally, Wells Fargo & Company lowered their price objective on Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $45.78.

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.