Steel Grove Capital Advisors LLC Decreases Stake in Comcast Corporation $CMCSA

Steel Grove Capital Advisors LLC lowered its position in Comcast Corporation (NASDAQ:CMCSA) by 81.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,796 shares of the cable giant’s stock after selling 38,560 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Comcast were worth $263,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CMCSA. Brighton Jones LLC lifted its stake in Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock worth $6,240,000 after acquiring an additional 99,986 shares during the last quarter. Voya Financial Advisors Inc. lifted its stake in Comcast by 3.2% in the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock worth $2,963,000 after acquiring an additional 2,593 shares during the last quarter. United Bank lifted its stake in Comcast by 11.3% in the second quarter. United Bank now owns 42,216 shares of the cable giant’s stock worth $1,507,000 after acquiring an additional 4,290 shares during the last quarter. HUB Investment Partners LLC lifted its stake in Comcast by 119.4% in the second quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock worth $606,000 after acquiring an additional 9,236 shares during the last quarter. Finally, Diversify Advisory Services LLC lifted its stake in Comcast by 66.8% in the second quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant’s stock worth $1,414,000 after acquiring an additional 15,865 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of Comcast stock opened at $25.22 on Thursday. The firm’s fifty day simple moving average is $27.43 and its 200-day simple moving average is $28.58. The stock has a market capitalization of $90.09 billion, a price-to-earnings ratio of 4.96, a PEG ratio of 2.02 and a beta of 0.71. Comcast Corporation has a 12 month low of $24.53 and a 12 month high of $36.66. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. The business had revenue of $31.46 billion for the quarter, compared to analysts’ expectations of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 EPS. As a group, equities analysts forecast that Comcast Corporation will post 3.58 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast’s payout ratio is currently 25.98%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CMCSA shares. Citigroup boosted their price objective on shares of Comcast from $33.00 to $35.50 and gave the stock a “buy” rating in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Comcast from a “buy” rating to a “hold” rating and set a $34.00 price objective for the company. in a research report on Friday, April 24th. Rosenblatt Securities restated a “neutral” rating and set a $30.00 price objective on shares of Comcast in a research report on Friday, January 30th. Evercore boosted their price objective on shares of Comcast from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Finally, Wall Street Zen upgraded shares of Comcast to a “hold” rating in a research report on Saturday, March 14th. Nine investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.79.

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.