Wingate Wealth Advisors Inc. Takes $28,000 Position in Comcast Co. (NASDAQ:CMCSA)

Wingate Wealth Advisors Inc. purchased a new stake in shares of Comcast Co. (NASDAQ:CMCSA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 753 shares of the cable giant’s stock, valued at approximately $28,000.

Several other hedge funds have also added to or reduced their stakes in the company. Winch Advisory Services LLC raised its position in shares of Comcast by 269.9% during the 4th quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant’s stock valued at $26,000 after acquiring an additional 502 shares during the last quarter. McClarren Financial Advisors Inc. grew its stake in shares of Comcast by 365.4% during 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 period. Safe Harbor Fiduciary LLC bought a new stake in Comcast in the third quarter valued at about $30,000. Iron Horse Wealth Management LLC lifted its stake in Comcast by 220.3% in the third quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock valued at $32,000 after buying an additional 522 shares during the period. Finally, Dunhill Financial LLC boosted its holdings in Comcast by 54.8% during the third quarter. Dunhill Financial LLC now owns 814 shares of the cable giant’s stock worth $34,000 after buying an additional 288 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CMCSA. Scotiabank lowered shares of Comcast from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $48.00 to $44.50 in a report on Monday, February 3rd. Barclays decreased their target price on Comcast from $42.00 to $37.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. KeyCorp raised their price target on Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Bank of America lowered Comcast from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $50.00 to $38.00 in a research report on Friday, January 31st. Finally, Rosenblatt Securities dropped their target price on shares of Comcast from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Ten investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.13.

Insider Activity at Comcast

In related news, CEO Brian L. Roberts sold 234,464 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was 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 directly owns 6,669,928 shares of the company’s stock, valued at $284,539,128.48. This trade represents a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Michael J. Cavanagh sold 25,537 shares of Comcast stock in a transaction dated 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 owns 534,849 shares in the company, valued at approximately $22,779,218.91. This represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is owned by insiders.

Comcast Stock Performance

NASDAQ:CMCSA opened at $35.23 on Wednesday. The stock has a 50 day simple moving average of $37.54 and a 200 day simple moving average of $39.85. The stock has a market cap of $133.21 billion, a P/E ratio of 8.49, 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 company has a current ratio of 0.68, a quick ratio of 0.72 and a debt-to-equity ratio of 1.09.

Comcast (NASDAQ:CMCSA) last released 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 net margin of 13.09% and a return on equity of 19.98%. Research analysts anticipate 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. Investors of record on Wednesday, April 2nd will be given a $0.33 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.75%. This is a boost from Comcast’s previous quarterly dividend of $0.31. Comcast’s dividend payout ratio (DPR) is presently 29.88%.

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.