Elevation Point Wealth Partners LLC Cuts Stock Position in Comcast Corporation $CMCSA

Elevation Point Wealth Partners LLC lessened its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 3.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 113,410 shares of the cable giant’s stock after selling 3,624 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Comcast were worth $4,048,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in CMCSA. Vanguard Group Inc. boosted its position in Comcast by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant’s stock valued at $13,185,275,000 after buying an additional 1,257,196 shares during the period. Dodge & Cox raised its stake in shares of Comcast by 19.1% in the first quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant’s stock valued at $3,476,635,000 after acquiring an additional 15,115,074 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Comcast by 7.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 36,154,170 shares of the cable giant’s stock valued at $1,289,984,000 after acquiring an additional 2,517,906 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in Comcast by 1.4% in the second quarter. First Eagle Investment Management LLC now owns 35,905,236 shares of the cable giant’s stock valued at $1,281,458,000 after purchasing an additional 490,923 shares during the period. Finally, Nuveen LLC acquired a new position in Comcast during the 1st quarter worth $940,015,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Down 0.4%

Shares of NASDAQ:CMCSA opened at $26.57 on Thursday. The firm has a 50 day simple moving average of $29.13 and a 200-day simple moving average of $32.46. Comcast Corporation has a twelve month low of $25.75 and a twelve month high of $43.45. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $96.82 billion, a PE ratio of 4.42, a P/E/G ratio of 1.83 and a beta of 0.92.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Monday, March 13th. The cable giant reported $0.77 EPS for the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The firm had revenue of $30.34 billion for the quarter. On average, equities analysts predict that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 14th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, January 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.0%. Comcast’s dividend payout ratio is 21.96%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. UBS Group set a $34.00 price target on Comcast in a research report on Friday, October 31st. Rosenblatt Securities cut their target price on shares of Comcast from $38.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, October 17th. Sanford C. Bernstein decreased their price target on shares of Comcast from $36.00 to $34.00 and set a “market perform” rating for the company in a research note on Friday, October 31st. TD Cowen dropped their price objective on shares of Comcast from $46.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Finally, Bank of America reduced their price objective 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. Eleven investment analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Comcast currently has a consensus rating of “Hold” and a consensus target price of $35.92.

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.