Concurrent Investment Advisors LLC Decreases Holdings in Comcast Co. (NASDAQ:CMCSA)

Concurrent Investment Advisors LLC trimmed its stake in Comcast Co. (NASDAQ:CMCSA) by 6.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,972 shares of the cable giant’s stock after selling 3,899 shares during the period. Concurrent Investment Advisors LLC’s holdings in Comcast were worth $2,063,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Advyzon Investment Management LLC purchased a new stake in shares of Comcast in the 4th quarter worth $300,000. Sunpointe LLC increased its stake in shares of Comcast by 34.1% in the 4th quarter. Sunpointe LLC now owns 10,245 shares of the cable giant’s stock worth $385,000 after purchasing an additional 2,607 shares in the last quarter. LMG Wealth Partners LLC increased its stake in shares of Comcast by 8.7% in the 4th quarter. LMG Wealth Partners LLC now owns 41,488 shares of the cable giant’s stock worth $1,557,000 after purchasing an additional 3,327 shares in the last quarter. Cumberland Partners Ltd bought a new position in Comcast in the 4th quarter worth $1,032,000. Finally, Abacus Planning Group Inc. boosted its holdings in Comcast by 7.3% in the 4th quarter. Abacus Planning Group Inc. now owns 11,158 shares of the cable giant’s stock worth $419,000 after buying an additional 755 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CMCSA. Citigroup dropped their target price on shares of Comcast from $47.00 to $44.00 and set a “buy” rating for the company in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Benchmark dropped their target price on shares of Comcast from $57.00 to $55.00 and set a “buy” rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. dropped their target price on shares of Comcast from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Finally, KeyCorp upped their target price on shares of Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Comcast presently has a consensus rating of “Moderate Buy” and an average target price of $44.13.

Insider Activity

In related news, CEO Brian L. Roberts sold 234,464 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total value of $10,002,234.24. Following the sale, the chief executive officer now directly owns 6,669,928 shares of the company’s stock, valued at $284,539,128.48. This represents a 3.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Michael J. Cavanagh sold 25,537 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the completion of the sale, the president now directly owns 534,849 shares in the company, valued at $22,779,218.91. This trade represents a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.

Comcast Stock Down 0.4 %

Shares of NASDAQ CMCSA opened at $36.26 on Friday. The firm’s 50-day moving average price is $36.58 and its 200-day moving average price is $39.58. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $137.08 billion, a price-to-earnings ratio of 8.74, a P/E/G ratio of 1.79 and a beta of 1.00. Comcast Co. has a 12-month low of $32.50 and a 12-month high of $45.31.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. On average, equities research analysts anticipate that Comcast Co. will post 4.33 EPS for the current fiscal year.

Comcast Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 2nd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.64%. This is a boost from Comcast’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, April 2nd. Comcast’s dividend payout ratio is currently 29.88%.

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.