SouthState Corp Cuts Stake in Comcast Co. (NASDAQ:CMCSA)

SouthState Corp lowered its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 88,921 shares of the cable giant’s stock after selling 695 shares during the quarter. SouthState Corp’s holdings in Comcast were worth $3,482,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Luken Investment Analytics LLC increased its position in shares of Comcast by 258.0% in the 1st quarter. Luken Investment Analytics LLC now owns 580 shares of the cable giant’s stock valued at $25,000 after purchasing an additional 418 shares during the last quarter. Steph & Co. grew its position in Comcast by 154.6% during the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after purchasing an additional 371 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in shares of Comcast in the fourth quarter valued at about $28,000. IAG Wealth Partners LLC boosted its stake in shares of Comcast by 204.7% during the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after buying an additional 522 shares during the period. Finally, Pineridge Advisors LLC acquired a new position in Comcast in the 4th quarter valued at about $32,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CMCSA. Deutsche Bank Aktiengesellschaft dropped their price objective on Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Evercore ISI lowered their price target on Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Seaport Res Ptn downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. StockNews.com upgraded Comcast from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Finally, Barclays lowered their price target on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Comcast presently has a consensus rating of “Hold” and an average price target of $45.78.

Comcast Price Performance

Comcast stock traded up $0.60 during trading hours on Thursday, hitting $39.27. 5,994,120 shares of the stock were exchanged, compared to its average volume of 19,920,246. The business’s 50-day moving average is $39.20 and its two-hundred day moving average is $39.86. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11. The stock has a market capitalization of $154.08 billion, a P/E ratio of 10.46, a P/E/G ratio of 1.05 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. The company had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.13 earnings per share. Equities research analysts expect that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Wednesday, October 2nd. Comcast’s dividend payout ratio is presently 32.80%.

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.