Comcast Co. (NASDAQ:CMCSA) Shares Sold by SouthState Corp

SouthState Corp lessened its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 2.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 87,038 shares of the cable giant’s stock after selling 1,883 shares during the quarter. SouthState Corp’s holdings in Comcast were worth $3,636,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Koshinski Asset Management Inc. raised its holdings in Comcast by 0.8% during the 3rd quarter. Koshinski Asset Management Inc. now owns 30,584 shares of the cable giant’s stock worth $1,277,000 after buying an additional 249 shares during the period. Taurus Asset Management LLC lifted its holdings in shares of Comcast by 2.9% in the third quarter. Taurus Asset Management LLC now owns 9,125 shares of the cable giant’s stock valued at $381,000 after purchasing an additional 253 shares in the last quarter. Regent Peak Wealth Advisors LLC boosted its position in shares of Comcast by 3.1% in the third quarter. Regent Peak Wealth Advisors LLC now owns 8,445 shares of the cable giant’s stock worth $353,000 after buying an additional 257 shares during the period. Abich Financial Wealth Management LLC grew its holdings in shares of Comcast by 4.7% during the third quarter. Abich Financial Wealth Management LLC now owns 5,829 shares of the cable giant’s stock valued at $243,000 after buying an additional 260 shares in the last quarter. Finally, Greenwich Wealth Management LLC raised its position in Comcast by 2.7% during the second quarter. Greenwich Wealth Management LLC now owns 9,754 shares of the cable giant’s stock valued at $382,000 after buying an additional 261 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CMCSA shares. StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. TD Cowen dropped their price target on shares of Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Pivotal Research lifted their price objective on Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their target price on Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Benchmark reiterated a “buy” rating and set a $60.00 price target on shares of Comcast in a report on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $47.19.

Comcast Stock Up 0.3 %

Shares of CMCSA opened at $43.00 on Tuesday. The firm’s 50-day simple moving average is $41.67 and its 200 day simple moving average is $39.93. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $164.54 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The company had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. During the same quarter in the previous year, the business posted $1.08 earnings per share. Comcast’s quarterly revenue was up 6.5% on a year-over-year basis. On average, analysts forecast that Comcast Co. will post 4.25 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a yield of 2.88%. Comcast’s dividend payout ratio (DPR) is presently 33.33%.

Comcast 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.