Graybill Wealth Management LTD. Reduces Stake in Comcast Co. (NASDAQ:CMCSA)

Graybill Wealth Management LTD. decreased its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 30.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,325 shares of the cable giant’s stock after selling 30,395 shares during the period. Graybill Wealth Management LTD.’s holdings in Comcast were worth $2,962,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Steph & Co. grew its holdings in Comcast by 154.6% in the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after purchasing an additional 371 shares during the period. Leith Wheeler Investment Counsel Ltd. grew its stake in shares of Comcast by 299.1% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock worth $28,000 after buying an additional 475,675 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in Comcast during the 4th quarter valued at approximately $28,000. Pineridge Advisors LLC purchased a new position in Comcast during the fourth quarter valued at $32,000. Finally, Financial Synergies Wealth Advisors Inc. boosted its holdings in Comcast by 336.9% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock worth $33,000 after acquiring an additional 593 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

CMCSA has been the topic of a number of recent analyst reports. The Goldman Sachs Group assumed coverage on shares of Comcast in a report on Tuesday. They set a “buy” rating and a $44.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their target price on Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 price target on shares of Comcast in a report on Friday, April 26th. Citigroup dropped their price objective on Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Finally, Evercore ISI reissued an “outperform” rating and issued a $50.00 target price on shares of Comcast in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $48.62.

Insider Activity

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total value 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 $6,380,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.26% of the company’s stock.

Comcast Price Performance

Shares of CMCSA traded down $0.14 during mid-day trading on Thursday, hitting $38.08. 3,871,450 shares of the stock were exchanged, compared to its average volume of 20,474,453. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market cap of $149.41 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 0.96 and a beta of 1.00. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.46. The firm has a 50-day moving average of $38.76 and a two-hundred day moving average of $41.44.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. The firm had revenue of $30.06 billion for the quarter, compared to the consensus estimate of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 EPS. On average, equities analysts predict that Comcast Co. will post 4.21 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, July 3rd. Comcast’s dividend payout ratio (DPR) is 32.80%.

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.