Altus Wealth Group LLC Trims Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Altus Wealth Group LLC cut its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,842 shares of the cable giant’s stock after selling 1,326 shares during the period. Altus Wealth Group LLC’s holdings in Comcast were worth $820,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Promus Capital LLC acquired a new stake in Comcast during the 4th quarter worth approximately $25,000. Winch Advisory Services LLC raised its stake in shares of Comcast by 269.9% during the fourth quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant’s stock worth $26,000 after purchasing an additional 502 shares during the last quarter. Roxbury Financial LLC acquired a new stake in shares of Comcast during the fourth quarter worth $27,000. Wingate Wealth Advisors Inc. purchased a new position in Comcast in the 4th quarter valued at $28,000. Finally, Safe Harbor Fiduciary LLC acquired a new position in Comcast in the 3rd quarter valued at $30,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CMCSA has been the topic of several analyst reports. Scotiabank downgraded shares of Comcast from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $48.00 to $44.50 in a report on Monday, February 3rd. Barclays lowered their price objective on Comcast from $42.00 to $37.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. BNP Paribas raised Comcast from an “underperform” rating to a “neutral” rating and set a $35.00 target price for the company in a research note on Friday, January 31st. StockNews.com upgraded Comcast from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Finally, Bank of America cut Comcast from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $50.00 to $38.00 in a research report on Friday, January 31st. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Comcast currently has an average rating of “Moderate Buy” and an average target price of $43.83.

Comcast Stock Up 2.1 %

Shares of NASDAQ:CMCSA opened at $35.43 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $133.96 billion, a P/E ratio of 8.54, a P/E/G ratio of 1.78 and a beta of 1.00. Comcast Co. has a 52-week low of $32.50 and a 52-week high of $45.31. The stock’s fifty day simple moving average is $35.92 and its 200-day simple moving average is $39.19.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. As a group, equities research analysts forecast that Comcast Co. will post 4.33 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 23rd. Shareholders of record on Wednesday, April 2nd will be paid a $0.33 dividend. This is a boost from Comcast’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Wednesday, April 2nd. Comcast’s payout ratio is presently 31.81%.

About Comcast

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.