World Equity Group Inc. Lowers Position in Comcast Co. (NASDAQ:CMCSA)

by · The Cerbat Gem

World Equity Group Inc. lowered its stake in Comcast Co. (NASDAQ:CMCSA – Free Report) by 72.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,194 shares of the cable giant’s stock after selling 45,821 shares during the quarter. World Equity Group Inc.’s holdings in Comcast were worth $718,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Fairscale Capital LLC acquired a new position in shares of Comcast in the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Comcast during the second quarter worth $27,000. IAG Wealth Partners LLC grew its stake in Comcast by 204.7% during the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after purchasing an additional 522 shares in the last quarter. McClarren Financial Advisors Inc. raised its position in Comcast by 365.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 570 shares in the last quarter. Finally, Archer Investment Corp grew its position in shares of Comcast by 177.1% during the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after buying an additional 519 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on CMCSA shares. Scotiabank raised Comcast from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $47.75 to $48.00 in a report on Friday. Deutsche Bank Aktiengesellschaft increased their price objective on Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a report on Friday. StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. TD Cowen dropped their price target on shares of Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday. Finally, KeyCorp boosted their price objective on shares of Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $46.75.

Read Our Latest Stock Report on CMCSA

Comcast Trading Down 1.2 %

Shares of NASDAQ CMCSA traded down $0.54 during trading on Monday, hitting $43.02. 1,779,550 shares of the company traded hands, compared to its average volume of 19,597,115. The firm has a market capitalization of $166.59 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.15 and a beta of 1.00. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. The company has a 50-day moving average price of $40.80 and a 200-day moving average price of $39.58. Comcast Co. has a 1 year low of $36.43 and a 1 year high of $47.11.

Comcast (NASDAQ:CMCSA – Get Free Report) last issued 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. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The business had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. During the same quarter in the previous year, the business earned $1.08 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities analysts predict that Comcast Co. will post 4.24 EPS for the current year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s dividend payout ratio is presently 33.33%.

Comcast Company Profile

(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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