SouthState Corp Has $2.80 Million Stock Position in Comcast Corporation (NASDAQ:CMCSA)

SouthState Corp cut its position in Comcast Corporation (NASDAQ:CMCSA) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,891 shares of the cable giant’s stock after selling 2,211 shares during the period. SouthState Corp’s holdings in Comcast were worth $2,800,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Inlight Wealth Management LLC bought a new stake in Comcast during the first quarter worth $26,000. Abound Financial LLC bought a new stake in shares of Comcast in the 1st quarter worth $29,000. Retirement Wealth Solutions LLC raised its holdings in shares of Comcast by 126.9% in the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 448 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new position in shares of Comcast during the fourth quarter valued at about $33,000. Finally, Global Wealth Strategies & Associates boosted its holdings in Comcast by 203.4% during the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant’s stock worth $33,000 after purchasing an additional 600 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CMCSA shares. Bernstein Bank cut their target price on Comcast from $38.00 to $37.00 and set a “market perform” rating on the stock in a research note on Friday, April 25th. KeyCorp reduced their price objective on Comcast from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Barclays lowered their target price on Comcast from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, August 1st. UBS Group reduced their price target on shares of Comcast from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, August 1st. Finally, Moffett Nathanson lifted their price objective on shares of Comcast from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, June 12th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.73.

Comcast Stock Performance

Shares of Comcast stock opened at $31.67 on Monday. The company has a 50 day simple moving average of $34.55 and a two-hundred day simple moving average of $34.93. The firm has a market cap of $116.93 billion, a PE ratio of 5.23, a PEG ratio of 1.90 and a beta of 0.92. Comcast Corporation has a 1 year low of $31.44 and a 1 year high of $45.31. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.07. The firm had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 earnings per share. Analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.2%. The ex-dividend date is Wednesday, October 1st. Comcast’s dividend payout ratio is presently 21.82%.

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.