Beverly Hills Private Wealth LLC Lowers Stock Holdings in Comcast Corporation $CMCSA

Beverly Hills Private Wealth LLC lessened its stake in Comcast Corporation (NASDAQ:CMCSA) by 14.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 126,119 shares of the cable giant’s stock after selling 21,130 shares during the period. Comcast makes up approximately 0.8% of Beverly Hills Private Wealth LLC’s holdings, making the stock its 23rd largest position. Beverly Hills Private Wealth LLC’s holdings in Comcast were worth $4,501,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Inlight Wealth Management LLC bought a new stake in Comcast in the 1st quarter worth approximately $26,000. Global Trust Asset Management LLC grew its position in Comcast by 906.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after purchasing an additional 671 shares during the period. Cranbrook Wealth Management LLC grew its position in Comcast by 86.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after purchasing an additional 350 shares during the period. Ransom Advisory Ltd bought a new stake in Comcast in the 1st quarter worth approximately $29,000. Finally, Abound Financial LLC bought a new stake in shares of Comcast during the 1st quarter valued at $29,000. Institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

Shares of CMCSA stock opened at $29.54 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $109.07 billion, a P/E ratio of 4.88, a P/E/G ratio of 1.75 and a beta of 0.94. The company’s 50-day simple moving average is $32.23 and its two-hundred day simple moving average is $33.66. Comcast Corporation has a one year low of $29.15 and a one year high of $45.31.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Monday, March 13th. The cable giant reported $0.77 EPS for the quarter. The business had revenue of $30.34 billion for the quarter. Comcast had a net margin of 18.44% and a return on equity of 18.86%. As a group, equities analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.5%. Comcast’s dividend payout ratio (DPR) is currently 21.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CMCSA shares. Rosenblatt Securities cut their price objective on shares of Comcast from $38.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday. Morgan Stanley set a $35.00 price target on shares of Comcast and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a research report on Tuesday, October 14th. Loop Capital cut their price target on shares of Comcast from $44.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, October 1st. Finally, Bank of America cut their price target on shares of Comcast from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $39.76.

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.