Opal Wealth Advisors LLC Sells 1,994 Shares of Comcast Co. (NASDAQ:CMCSA)

Opal Wealth Advisors LLC lessened its holdings in Comcast Co. (NASDAQ:CMCSA) by 24.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,293 shares of the cable giant’s stock after selling 1,994 shares during the quarter. Opal Wealth Advisors LLC’s holdings in Comcast were worth $236,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. World Investment Advisors LLC raised its holdings in shares of Comcast by 904.0% in the 3rd quarter. World Investment Advisors LLC now owns 254,545 shares of the cable giant’s stock worth $10,632,000 after purchasing an additional 229,192 shares during the period. Robinson Value Management Ltd. raised its holdings in shares of Comcast by 136.7% in the 4th quarter. Robinson Value Management Ltd. now owns 102,360 shares of the cable giant’s stock worth $3,842,000 after purchasing an additional 59,107 shares during the period. Tidal Investments LLC raised its holdings in shares of Comcast by 15.2% in the 3rd quarter. Tidal Investments LLC now owns 171,440 shares of the cable giant’s stock worth $7,161,000 after purchasing an additional 22,684 shares during the period. Private Management Group Inc. raised its holdings in shares of Comcast by 3.0% in the 4th quarter. Private Management Group Inc. now owns 855,787 shares of the cable giant’s stock worth $32,118,000 after purchasing an additional 24,827 shares during the period. Finally, Parnassus Investments LLC raised its holdings in shares of Comcast by 3.7% in the 3rd quarter. Parnassus Investments LLC now owns 1,920,800 shares of the cable giant’s stock worth $80,232,000 after purchasing an additional 68,139 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Insider Buying and Selling at Comcast

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

Comcast Price Performance

CMCSA stock opened at $34.47 on Tuesday. Comcast Co. has a 1 year low of $32.50 and a 1 year high of $45.31. The company has a market cap of $130.33 billion, a P/E ratio of 8.31, a PEG ratio of 1.69 and a beta of 1.00. The firm has a 50-day moving average of $37.71 and a 200 day moving average of $39.88. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.72.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. On average, sell-side analysts forecast that Comcast Co. will post 4.33 EPS for the current year.

Comcast Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 2nd will be paid a dividend of $0.33 per share. This is an increase 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 dividend yield of 3.83%. Comcast’s dividend payout ratio (DPR) is currently 31.81%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CMCSA. TD Cowen lowered their price target on shares of Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Scotiabank lowered shares of Comcast from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $48.00 to $44.50 in a research report on Monday, February 3rd. Wells Fargo & Company cut their target price on shares of Comcast from $45.00 to $37.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. The Goldman Sachs Group cut their price target on shares of Comcast from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Friday, January 31st. 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. Ten investment 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.13.

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.