Spire Wealth Management Cuts Position in Comcast Co. (NASDAQ:CMCSA)

Spire Wealth Management decreased its holdings in Comcast Co. (NASDAQ:CMCSA) by 1.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 30,451 shares of the cable giant’s stock after selling 329 shares during the period. Spire Wealth Management’s holdings in Comcast were worth $1,143,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CMCSA. Winch Advisory Services LLC raised its stake in shares of Comcast by 269.9% during the fourth quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant’s stock valued at $26,000 after purchasing an additional 502 shares in the last quarter. McClarren Financial Advisors Inc. raised its position in Comcast by 365.4% in the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after acquiring an additional 570 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new stake in Comcast during the third quarter valued at about $30,000. Iron Horse Wealth Management LLC lifted its stake in Comcast by 220.3% during 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 in the last quarter. Finally, Dunhill Financial LLC increased its holdings in shares of Comcast by 54.8% in the 3rd quarter. Dunhill Financial LLC now owns 814 shares of the cable giant’s stock valued at $34,000 after purchasing an additional 288 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of a number of recent analyst reports. Bank of America cut Comcast from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $50.00 to $38.00 in a research report on Friday. JPMorgan Chase & Co. dropped their price objective on Comcast from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday. Rosenblatt Securities lowered their target price on Comcast from $45.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday. Citigroup decreased their price target on Comcast from $47.00 to $44.00 and set a “buy” rating on the stock in a report on Friday. Finally, Pivotal Research raised their target price on Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Ten analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.13.

Insider Transactions at Comcast

In other Comcast news, President Michael J. Cavanagh sold 25,537 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the sale, the president now directly owns 534,849 shares in the company, valued at approximately $22,779,218.91. This trade represents a 4.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian L. Roberts sold 234,464 shares of the stock in a transaction on Tuesday, November 26th. The shares were 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 owns 6,669,928 shares in the company, valued at approximately $284,539,128.48. This represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.

Comcast Price Performance

CMCSA opened at $33.19 on Tuesday. Comcast Co. has a 12-month low of $32.50 and a 12-month high of $45.38. The company has a current ratio of 0.68, a quick ratio of 0.72 and a debt-to-equity ratio of 1.09. The stock has a 50-day moving average price of $38.61 and a 200-day moving average price of $40.07. The stock has a market capitalization of $127.00 billion, a P/E ratio of 8.00, a PEG ratio of 1.23 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. Equities analysts predict that Comcast Co. will post 4.4 earnings per share for the current fiscal year.

Comcast Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 2nd will be given a dividend of $0.33 per share. This is a positive change from Comcast’s previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, April 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.98%. Comcast’s dividend payout ratio 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.