Icon Wealth Advisors LLC Sells 2,184 Shares of Comcast Co. (NASDAQ:CMCSA)

Icon Wealth Advisors LLC lessened its stake in Comcast Co. (NASDAQ:CMCSA) by 15.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,732 shares of the cable giant’s stock after selling 2,184 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Comcast were worth $490,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Fairscale Capital LLC purchased a new stake in Comcast in the 2nd quarter valued at about $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Comcast during the second quarter valued at approximately $27,000. IAG Wealth Partners LLC lifted its holdings in 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 acquiring an additional 522 shares during the period. McClarren Financial Advisors Inc. boosted its position in Comcast by 365.4% in the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after purchasing an additional 570 shares during the last quarter. Finally, Archer Investment Corp grew its stake in Comcast by 177.1% in the 2nd quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock valued at $32,000 after purchasing an additional 519 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Insider Buying and Selling at Comcast

In related news, President Michael J. Cavanagh sold 25,537 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total value of $1,087,620.83. Following the completion of the transaction, the president now directly owns 534,849 shares in the company, valued at approximately $22,779,218.91. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian L. Roberts sold 234,464 shares of the firm’s 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 owns 6,669,928 shares in the company, valued at $284,539,128.48. The trade was a 3.40 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Comcast Price Performance

CMCSA stock opened at $43.19 on Friday. The firm has a 50 day moving average of $42.29 and a 200-day moving average of $40.17. The firm has a market capitalization of $165.27 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 1.61 and a beta of 1.00. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, beating the consensus estimate of $1.06 by $0.06. The firm 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 period last year, the firm earned $1.08 EPS. As a group, sell-side analysts predict that Comcast Co. will post 4.26 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a yield of 2.87%. Comcast’s dividend payout ratio is currently 33.33%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CMCSA shares. StockNews.com raised shares of Comcast from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Scotiabank upgraded shares of Comcast from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $47.75 to $48.00 in a research note on Friday, November 1st. Evercore ISI upgraded shares of Comcast to a “strong-buy” rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft upped their price objective on Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Barclays raised their target price on Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.19.

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.