Forte Capital LLC ADV Trims Stake in Comcast Co. (NASDAQ:CMCSA)

Forte Capital LLC ADV trimmed its stake in Comcast Co. (NASDAQ:CMCSA) by 5.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 16,932 shares of the cable giant’s stock after selling 941 shares during the period. Forte Capital LLC ADV’s holdings in Comcast were worth $707,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in CMCSA. Concurrent Investment Advisors LLC grew its position in Comcast by 8.5% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 58,871 shares of the cable giant’s stock valued at $2,459,000 after acquiring an additional 4,605 shares in the last quarter. Maia Wealth LLC boosted its stake in shares of Comcast by 38.4% in the third quarter. Maia Wealth LLC now owns 9,577 shares of the cable giant’s stock valued at $399,000 after purchasing an additional 2,656 shares during the period. Radnor Capital Management LLC increased its stake in Comcast by 10.5% during the 3rd quarter. Radnor Capital Management LLC now owns 128,905 shares of the cable giant’s stock worth $5,384,000 after buying an additional 12,225 shares during the period. Catalina Capital Group LLC lifted its holdings in Comcast by 9.2% during the 3rd quarter. Catalina Capital Group LLC now owns 20,410 shares of the cable giant’s stock worth $853,000 after buying an additional 1,711 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC boosted its position in Comcast by 2.1% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 16,058 shares of the cable giant’s stock valued at $671,000 after buying an additional 327 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

CMCSA has been the subject of a number of analyst reports. TD Cowen lowered their price objective on Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Benchmark reissued a “buy” rating and issued a $55.00 target price on shares of Comcast in a report on Wednesday, October 30th. Barclays lifted their price target on Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday. Scotiabank raised Comcast from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $47.75 to $48.00 in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.75.

Comcast Stock Down 2.1 %

CMCSA stock opened at $44.19 on Friday. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $171.13 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 1.61 and a beta of 1.00. The company has a fifty day moving average price of $41.00 and a 200 day moving average price of $39.66.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.06. The business had revenue of $32.07 billion during the quarter, compared to the consensus estimate of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 earnings per share. Sell-side analysts expect that Comcast Co. will post 4.25 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Wednesday, January 8th. Comcast’s payout ratio is currently 33.33%.

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.