Miracle Mile Advisors LLC Sells 15,797 Shares of Comcast Co. (NASDAQ:CMCSA)

Miracle Mile Advisors LLC decreased its position in shares of Comcast Co. (NASDAQ:CMCSA) by 70.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,749 shares of the cable giant’s stock after selling 15,797 shares during the period. Miracle Mile Advisors LLC’s holdings in Comcast were worth $293,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the business. Wealthspire Advisors LLC lifted its holdings in Comcast by 4.8% in the fourth quarter. Wealthspire Advisors LLC now owns 60,650 shares of the cable giant’s stock valued at $2,659,000 after buying an additional 2,781 shares during the period. Everett Harris & Co. CA lifted its stake in Comcast by 7.7% in the fourth quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock valued at $73,993,000 after buying an additional 121,279 shares during the period. Desjardins Global Asset Management Inc. lifted its stake in Comcast by 1.5% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock valued at $4,438,000 after buying an additional 1,486 shares during the period. Brevan Howard Capital Management LP bought a new position in Comcast during the fourth quarter worth about $2,056,000. Finally, Axxcess Wealth Management LLC grew its position in shares of Comcast by 10.5% during the 4th quarter. Axxcess Wealth Management LLC now owns 115,503 shares of the cable giant’s stock worth $5,065,000 after buying an additional 10,936 shares during the period. Institutional investors own 84.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CMCSA. Scotiabank reduced their price objective on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a research note on Friday, April 26th. Benchmark reissued a “buy” rating and issued a $55.00 price target on shares of Comcast in a report on Monday, May 13th. Wells Fargo & Company lowered their price objective on shares of Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Citigroup reduced their target price on Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Finally, Oppenheimer restated an “outperform” rating and issued a $55.00 price target on shares of Comcast in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $48.62.

Comcast Stock Performance

NASDAQ CMCSA opened at $38.17 on Tuesday. The firm has a market capitalization of $149.76 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 0.98 and a beta of 1.00. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.13. The firm’s fifty day moving average price is $38.71 and its two-hundred day moving average price is $41.37. Comcast Co. has a 1 year low of $36.43 and a 1 year high of $47.46.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The company had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. During the same period in the prior year, the firm earned $0.92 EPS. Comcast’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, research analysts anticipate that Comcast Co. will post 4.21 EPS for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 3rd will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.24 annualized dividend and a dividend yield of 3.25%. Comcast’s dividend payout ratio is currently 32.80%.

Insider Buying and Selling

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the completion of the sale, the insider now owns 2,000,000 shares of the company’s stock, valued at approximately $6,380,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.26% of the stock is owned by insiders.

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.