Fairway Wealth LLC Reduces Stock Position in Comcast Co. (NASDAQ:CMCSA)

Fairway Wealth LLC trimmed its position in Comcast Co. (NASDAQ:CMCSA) by 20.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,117 shares of the cable giant’s stock after selling 286 shares during the period. Fairway Wealth LLC’s holdings in Comcast were worth $47,000 at the end of the most recent reporting period.

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

Comcast Stock Down 0.6 %

Shares of NASDAQ:CMCSA opened at $43.91 on Friday. The company has a market capitalization of $170.04 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 1.61 and a beta of 1.00. The company has a 50 day moving average of $41.18 and a two-hundred day moving average of $39.71. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The business had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. The business’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the business earned $1.08 EPS. As a group, analysts forecast that Comcast Co. will post 4.25 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Wednesday, January 8th. Comcast’s dividend payout ratio (DPR) is 33.33%.

Analyst Ratings Changes

CMCSA has been the topic of a number of research analyst reports. Barclays raised their price target on Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. KeyCorp boosted their target price on shares of Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 price target on shares of Comcast in a research note on Wednesday. TD Cowen lowered their price objective on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, Pivotal Research increased their target price on Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Comcast presently has an average rating of “Moderate Buy” and a consensus target price of $46.75.

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.