Golden State Wealth Management LLC Takes Position in Comcast Co. (NASDAQ:CMCSA)

Golden State Wealth Management LLC acquired a new position in Comcast Co. (NASDAQ:CMCSA) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 3,820 shares of the cable giant’s stock, valued at approximately $143,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB raised its holdings in shares of Comcast by 55,334.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 8,273,052 shares of the cable giant’s stock valued at $345,565,000 after acquiring an additional 8,258,128 shares in the last quarter. FMR LLC increased its position in Comcast by 5.4% during the 3rd 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. Public Sector Pension Investment Board raised its holdings in Comcast by 530.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 3,429,298 shares of the cable giant’s stock worth $143,242,000 after purchasing an additional 2,885,370 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Comcast by 31.7% in the 3rd quarter. National Bank of Canada FI now owns 7,613,977 shares of the cable giant’s stock worth $318,036,000 after purchasing an additional 1,833,453 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Comcast by 6.0% during the 3rd 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 valued at $1,268,310,000 after purchasing an additional 1,717,762 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Insider Activity

In other Comcast news, President Michael J. Cavanagh sold 25,537 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the completion of the sale, the president now directly owns 534,849 shares of the company’s stock, valued at $22,779,218.91. This trade represents a 4.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian L. Roberts sold 234,464 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the completion of the transaction, the chief executive officer now directly owns 6,669,928 shares in the company, valued at $284,539,128.48. This trade represents 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 Trading Down 0.3 %

Shares of CMCSA stock opened at $34.37 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.72. The company has a market cap of $129.95 billion, a price-to-earnings ratio of 8.28, a PEG ratio of 1.69 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 firm has a fifty day moving average price of $37.71 and a 200-day moving average price of $39.87.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, January 30th. The cable giant reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. As a group, equities analysts predict that Comcast Co. will post 4.33 earnings per share for the current year.

Comcast Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, April 2nd. This is a boost from Comcast’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.84%. Comcast’s dividend payout ratio is 29.88%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Macquarie cut their price objective on Comcast from $42.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Barclays reduced their price target on Comcast from $42.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. BNP Paribas raised Comcast from an “underperform” rating to a “neutral” rating and set a $35.00 price objective for the company in a research report on Friday, January 31st. Rosenblatt Securities reduced their target price on shares of Comcast from $45.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Finally, TD Cowen lowered their price target on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Ten research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $44.13.

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.