Parisi Gray Wealth Management Sells 563 Shares of Comcast Co. (NASDAQ:CMCSA)

Parisi Gray Wealth Management reduced its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 2.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,000 shares of the cable giant’s stock after selling 563 shares during the period. Parisi Gray Wealth Management’s holdings in Comcast were worth $1,051,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CMCSA. Miracle Mile Advisors LLC grew its position in shares of Comcast by 21.9% in the fourth quarter. Miracle Mile Advisors LLC now owns 9,822 shares of the cable giant’s stock valued at $369,000 after purchasing an additional 1,764 shares in the last quarter. Davis Investment Partners LLC purchased a new stake in Comcast in the 4th quarter worth approximately $1,059,000. Persium Advisors LLC bought a new position in Comcast in the 4th quarter valued at $555,000. Enterprise Bank & Trust Co grew its position in shares of Comcast by 3.6% during the 4th quarter. Enterprise Bank & Trust Co now owns 12,782 shares of the cable giant’s stock valued at $480,000 after purchasing an additional 450 shares in the last quarter. Finally, Forza Wealth Management LLC increased its holdings in shares of Comcast by 13.2% in the fourth quarter. Forza Wealth Management LLC now owns 17,579 shares of the cable giant’s stock worth $660,000 after purchasing an additional 2,050 shares during the period. Institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company dropped their price target on Comcast from $46.00 to $45.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Morgan Stanley lowered shares of Comcast from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $48.00 to $45.00 in a research report on Monday, December 16th. KeyCorp boosted their target price on Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 price target on shares of Comcast in a report on Wednesday, November 6th. Finally, Seaport Res Ptn upgraded shares of Comcast from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.33.

Insider Buying and Selling at Comcast

In other news, CEO Brian L. Roberts sold 234,464 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the transaction, the chief executive officer now directly owns 6,669,928 shares of the company’s stock, valued at $284,539,128.48. This represents a 3.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Michael J. Cavanagh sold 25,537 shares of the company’s stock in a transaction on 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 sale, the president now directly owns 534,849 shares in the company, valued at $22,779,218.91. This trade represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.

Comcast Stock Performance

Shares of CMCSA stock traded up $0.09 during trading hours on Monday, hitting $36.45. The company’s stock had a trading volume of 18,858,114 shares, compared to its average volume of 24,385,611. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14. The company has a 50 day moving average of $40.69 and a 200 day moving average of $40.26. Comcast Co. has a 12-month low of $36.24 and a 12-month high of $47.11. The stock has a market cap of $139.48 billion, a PE ratio of 9.80, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.06. The firm had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. Comcast had a return on equity of 19.81% and a net margin of 11.92%. Comcast’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.08 EPS. On average, sell-side analysts forecast that Comcast Co. will post 4.26 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be given a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a yield of 3.40%. Comcast’s payout ratio is currently 33.33%.

Comcast 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.