Tradition Wealth Management LLC Lowers Stake in Comcast Co. (NASDAQ:CMCSA)

Tradition Wealth Management LLC lowered its position in shares of Comcast Co. (NASDAQ:CMCSA) by 15.2% in the fourth quarter, Holdings Channel reports. The firm owned 5,783 shares of the cable giant’s stock after selling 1,033 shares during the period. Tradition Wealth Management LLC’s holdings in Comcast were worth $217,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Capital World Investors raised its holdings in shares of Comcast by 8.6% during the 4th quarter. Capital World Investors now owns 141,680,277 shares of the cable giant’s stock valued at $5,317,167,000 after buying an additional 11,255,683 shares during the period. Norges Bank purchased a new position in shares of Comcast in the fourth quarter valued at $3,835,226,000. Geode Capital Management LLC increased its stake in Comcast by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant’s stock worth $3,212,244,000 after buying an additional 1,006,272 shares during the period. Dodge & Cox boosted its position in Comcast by 6.8% in the 4th quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant’s stock valued at $2,968,723,000 after buying an additional 5,039,823 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Comcast by 11.5% in the fourth quarter. Invesco Ltd. now owns 45,175,969 shares of the cable giant’s stock worth $1,695,454,000 after acquiring an additional 4,669,069 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Loop Capital cut their target price on Comcast from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. 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 research report on Friday, January 31st. Barclays lowered their price objective on Comcast from $42.00 to $37.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Scotiabank increased their target price on Comcast from $44.50 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 8th. Finally, KeyCorp lowered their price target on Comcast from $47.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $42.50.

Comcast Stock Performance

CMCSA opened at $33.60 on Tuesday. Comcast Co. has a twelve month low of $32.20 and a twelve month high of $45.31. The stock has a market cap of $127.04 billion, a PE ratio of 8.10, a price-to-earnings-growth ratio of 1.78 and a beta of 0.94. The business’s 50 day moving average is $35.49 and its 200-day moving average is $38.23. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09.

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

Comcast Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 2nd will be paid a $0.33 dividend. This is a positive change from Comcast’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Wednesday, April 2nd. Comcast’s dividend payout ratio is currently 31.81%.

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.