JGP Wealth Management LLC Has $6.66 Million Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

JGP Wealth Management LLC cut its holdings in Comcast Co. (NASDAQ:CMCSA) by 19.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 180,420 shares of the cable giant’s stock after selling 43,944 shares during the quarter. JGP Wealth Management LLC’s holdings in Comcast were worth $6,658,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Sculati Wealth Management LLC raised its stake in Comcast by 0.9% in the fourth quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant’s stock valued at $1,156,000 after purchasing an additional 285 shares in the last quarter. Five Oceans Advisors raised its stake in Comcast by 2.5% in the fourth quarter. Five Oceans Advisors now owns 12,336 shares of the cable giant’s stock valued at $463,000 after purchasing an additional 298 shares in the last quarter. Kovack Advisors Inc. raised its stake in Comcast by 1.1% in the fourth quarter. Kovack Advisors Inc. now owns 26,470 shares of the cable giant’s stock valued at $993,000 after purchasing an additional 300 shares in the last quarter. Beck Mack & Oliver LLC raised its stake in Comcast by 2.0% in the fourth quarter. Beck Mack & Oliver LLC now owns 15,539 shares of the cable giant’s stock valued at $583,000 after purchasing an additional 300 shares in the last quarter. Finally, Avitas Wealth Management LLC raised its stake in Comcast by 0.6% in the fourth quarter. Avitas Wealth Management LLC now owns 58,490 shares of the cable giant’s stock valued at $2,195,000 after purchasing an additional 328 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Price Performance

Comcast stock opened at $34.58 on Friday. The stock has a market capitalization of $129.11 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 1.78 and a beta of 0.97. Comcast Co. has a 52-week low of $31.44 and a 52-week high of $45.31. The stock’s 50 day moving average price is $34.64 and its two-hundred day moving average price is $36.68. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.68.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The firm had revenue of $29.89 billion for the quarter, compared to analysts’ expectations of $29.82 billion. Comcast had a return on equity of 19.98% and a net margin of 13.09%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.04 EPS. On average, equities analysts predict that Comcast Co. will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast’s payout ratio is 32.43%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wells Fargo & Company downgraded Comcast from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $37.00 to $31.00 in a research note on Monday, April 14th. BNP Paribas downgraded Comcast from a “neutral” rating to an “underperform” rating and set a $31.00 target price for the company. in a research note on Thursday, April 10th. UBS Group set a $44.50 target price on Comcast in a research note on Friday, April 25th. Rosenblatt Securities reissued a “neutral” rating and set a $36.00 target price on shares of Comcast in a research note on Monday, April 28th. Finally, Wall Street Zen raised Comcast from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.10.

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.