Alpha Cubed Investments LLC Sells 926 Shares of Comcast Co. (NASDAQ:CMCSA)

Alpha Cubed Investments LLC reduced its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 6.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,100 shares of the cable giant’s stock after selling 926 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Comcast were worth $589,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CMCSA. Regal Investment Advisors LLC boosted its holdings in shares of Comcast by 4.4% during the fourth quarter. Regal Investment Advisors LLC now owns 8,215 shares of the cable giant’s stock worth $360,000 after purchasing an additional 343 shares during the period. Icon Wealth Advisors LLC bought a new stake in shares of Comcast in the 4th quarter worth approximately $443,000. First Financial Bankshares Inc bought a new stake in shares of Comcast in the 4th quarter worth approximately $33,386,000. RMB Capital Management LLC increased its stake in shares of Comcast by 8.0% during the fourth quarter. RMB Capital Management LLC now owns 185,746 shares of the cable giant’s stock valued at $8,145,000 after buying an additional 13,736 shares during the period. Finally, Redwood Investment Management LLC raised its holdings in shares of Comcast by 146.2% during the fourth quarter. Redwood Investment Management LLC now owns 196,665 shares of the cable giant’s stock valued at $8,624,000 after acquiring an additional 116,775 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. The Goldman Sachs Group began coverage on shares of Comcast in a research report on Tuesday, June 25th. They set a “buy” rating and a $44.00 price objective on the stock. BNP Paribas downgraded shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target for the company. in a research note on Tuesday, June 11th. Macquarie reaffirmed a “neutral” rating and set a $40.00 price objective on shares of Comcast in a research report on Wednesday, July 24th. Barclays decreased their target price on Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Finally, Pivotal Research dropped their price target on Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Comcast presently has a consensus rating of “Hold” and a consensus target price of $45.55.

Comcast Stock Up 1.0 %

NASDAQ:CMCSA opened at $40.95 on Wednesday. The firm has a 50-day simple moving average of $39.94 and a two-hundred day simple moving average of $39.49. The firm has a market cap of $160.67 billion, a P/E ratio of 10.83, a P/E/G ratio of 1.08 and a beta of 1.01. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.11. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The company had revenue of $29.69 billion during the quarter, compared to analyst estimates of $30.02 billion. During the same period in the previous year, the business earned $1.13 EPS. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. Analysts predict that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.31 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a dividend yield of 3.03%. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

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.