TrueWealth Advisors LLC Sells 1,772 Shares of Comcast Co. (NASDAQ:CMCSA)

by · The Markets Daily

TrueWealth Advisors LLC reduced its stake in shares of Comcast Co. (NASDAQ:CMCSA – Free Report) by 24.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,523 shares of the cable giant’s stock after selling 1,772 shares during the period. TrueWealth Advisors LLC’s holdings in Comcast were worth $231,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Capital World Investors lifted its position in Comcast by 7.4% during the 1st quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock worth $5,015,737,000 after acquiring an additional 7,929,963 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Comcast by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 38,329,384 shares of the cable giant’s stock valued at $1,500,722,000 after purchasing an additional 1,000,626 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Comcast by 41.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock valued at $1,214,512,000 after buying an additional 8,243,302 shares during the last quarter. Ontario Teachers Pension Plan Board increased its position in Comcast by 25,881.7% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock worth $470,391,000 after buying an additional 10,809,231 shares during the period. Finally, First Pacific Advisors LP lifted its holdings in shares of Comcast by 2.1% during the second quarter. First Pacific Advisors LP now owns 10,818,009 shares of the cable giant’s stock worth $423,633,000 after buying an additional 219,894 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CMCSA. Macquarie restated a “neutral” rating and issued a $40.00 price objective on shares of Comcast in a research note on Friday. Wells Fargo & Company upped their price objective on shares of Comcast from $43.00 to $46.00 and gave the company an “equal weight” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Friday. Benchmark restated a “buy” rating and set a $55.00 price target on shares of Comcast in a research note on Wednesday, October 30th. Finally, TD Cowen reduced their price objective on Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Comcast currently has an average rating of “Moderate Buy” and an average price target of $46.63.

Read Our Latest Analysis on Comcast

Comcast Stock Performance

Comcast stock opened at $43.56 on Monday. The firm has a market capitalization of $168.69 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.15 and a beta of 1.00. The stock has a fifty day moving average price of $40.80 and a two-hundred day moving average price of $39.58. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.66.

Comcast (NASDAQ:CMCSA – Get Free Report) last announced its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $1.08 EPS. As a group, analysts anticipate that Comcast Co. will post 4.24 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Wednesday, January 8th. Comcast’s payout ratio is currently 33.33%.

About Comcast

(Free Report)

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.

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