ProVise Management Group LLC Lowers Position in Comcast Co. (NASDAQ:CMCSA)

ProVise Management Group LLC trimmed its stake in Comcast Co. (NASDAQ:CMCSA) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 450,827 shares of the cable giant’s stock after selling 6,568 shares during the quarter. Comcast comprises 1.5% of ProVise Management Group LLC’s portfolio, making the stock its 19th largest position. ProVise Management Group LLC’s holdings in Comcast were worth $16,920,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. FMR LLC grew its holdings in Comcast by 5.4% in the third quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock valued at $4,904,647,000 after purchasing an additional 6,062,658 shares during the period. First Eagle Investment Management LLC grew its stake in Comcast by 7.1% during the fourth quarter. First Eagle Investment Management LLC now owns 34,101,077 shares of the cable giant’s stock worth $1,279,813,000 after buying an additional 2,270,186 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Comcast by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 32,709,601 shares of the cable giant’s stock worth $1,227,591,000 after buying an additional 838,366 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Comcast by 6.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,364,136 shares of the cable giant’s stock worth $1,268,310,000 after buying an additional 1,717,762 shares during the period. Finally, Amundi grew its stake in Comcast by 147.9% during the fourth quarter. Amundi now owns 24,086,671 shares of the cable giant’s stock worth $895,499,000 after buying an additional 14,369,056 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of several research reports. Benchmark decreased their price objective on shares of Comcast from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Loop Capital decreased their price objective on shares of Comcast from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Wells Fargo & Company reduced their target price on shares of Comcast from $45.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Morgan Stanley reduced their target price on shares of Comcast from $45.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Finally, BNP Paribas raised shares of Comcast from an “underperform” rating to a “neutral” rating and set a $35.00 target price on the stock in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Comcast currently has a consensus rating of “Moderate Buy” and an average price target of $43.83.

Comcast Stock Up 0.7 %

Shares of NASDAQ:CMCSA opened at $36.01 on Wednesday. The stock has a market capitalization of $136.15 billion, a price-to-earnings ratio of 8.68, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00. Comcast Co. has a 1-year low of $32.50 and a 1-year high of $45.31. The company’s fifty day moving average is $35.86 and its two-hundred day moving average is $39.14. 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 issued its earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. Equities analysts anticipate that Comcast Co. will post 4.33 EPS for the current year.

Comcast Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 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 3.67%. This is a boost from Comcast’s previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, April 2nd. Comcast’s dividend payout ratio is 31.81%.

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.