Evermay Wealth Management LLC Decreases Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Evermay Wealth Management LLC lessened its holdings in Comcast Co. (NASDAQ:CMCSA) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,546 shares of the cable giant’s stock after selling 500 shares during the period. Evermay Wealth Management LLC’s holdings in Comcast were worth $508,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CMCSA. World Investment Advisors LLC increased its holdings in Comcast by 904.0% during the 3rd quarter. World Investment Advisors LLC now owns 254,545 shares of the cable giant’s stock worth $10,632,000 after purchasing an additional 229,192 shares during the last quarter. Tidal Investments LLC grew its position in shares of Comcast by 15.2% during the third quarter. Tidal Investments LLC now owns 171,440 shares of the cable giant’s stock worth $7,161,000 after acquiring an additional 22,684 shares during the last quarter. Parnassus Investments LLC increased its stake in shares of Comcast by 3.7% in the third quarter. Parnassus Investments LLC now owns 1,920,800 shares of the cable giant’s stock valued at $80,232,000 after purchasing an additional 68,139 shares during the period. Douglas Lane & Associates LLC increased its position in Comcast by 0.7% in the 3rd quarter. Douglas Lane & Associates LLC now owns 2,210,469 shares of the cable giant’s stock valued at $92,331,000 after acquiring an additional 15,807 shares during the period. Finally, Kestra Investment Management LLC bought a new stake in shares of Comcast during the third quarter valued at about $2,541,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CMCSA shares. Scotiabank raised shares of Comcast from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $47.75 to $48.00 in a research note on Friday, November 1st. Bank of America downgraded Comcast from a “buy” rating to a “neutral” rating and lowered their price target for the company from $50.00 to $38.00 in a report on Friday. TD Cowen cut their target price on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, November 1st. BNP Paribas raised Comcast from an “underperform” rating to a “neutral” rating and set a $35.00 price target for the company in a research note on Friday. Finally, Loop Capital dropped their price objective on Comcast from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.00.

Insider Activity

In other news, CEO Brian L. Roberts sold 234,464 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the completion of the sale, the chief executive officer now owns 6,669,928 shares in the company, valued at $284,539,128.48. The trade was a 3.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Michael J. Cavanagh sold 25,537 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total value of $1,087,620.83. Following the completion of the sale, the president now owns 534,849 shares of the company’s stock, valued at $22,779,218.91. This trade represents a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by insiders.

Comcast Trading Up 1.2 %

NASDAQ:CMCSA opened at $33.66 on Friday. The firm has a market capitalization of $128.80 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 1.36 and a beta of 1.01. The business’s 50-day moving average price is $38.61 and its two-hundred day moving average price is $40.07. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14. Comcast Co. has a 1-year low of $32.50 and a 1-year high of $47.11.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.08. Comcast had a net margin of 11.92% and a return on equity of 19.81%. On average, equities analysts expect that Comcast Co. will post 4.25 earnings per share for the current year.

Comcast Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 2nd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.92%. This is a boost from Comcast’s previous quarterly dividend of $0.31. Comcast’s dividend payout ratio is currently 33.33%.

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.