Axxcess Wealth Management LLC Reduces Position in Comcast Co. (NASDAQ:CMCSA)

Axxcess Wealth Management LLC lowered its position in Comcast Co. (NASDAQ:CMCSA) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,369 shares of the cable giant’s stock after selling 6,696 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Comcast were worth $4,292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. FMR LLC increased its position in Comcast by 5.4% during the 3rd quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock worth $4,904,647,000 after purchasing an additional 6,062,658 shares during the period. First Eagle Investment Management LLC grew its position in Comcast by 7.1% during the fourth quarter. First Eagle Investment Management LLC now owns 34,101,077 shares of the cable giant’s stock worth $1,279,813,000 after buying an additional 2,270,186 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Comcast by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 32,709,601 shares of the cable giant’s stock valued at $1,227,591,000 after acquiring an additional 838,366 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Comcast by 6.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,364,136 shares of the cable giant’s stock worth $1,268,310,000 after acquiring an additional 1,717,762 shares during the period. Finally, Amundi increased its stake in Comcast by 147.9% in the 4th quarter. Amundi now owns 24,086,671 shares of the cable giant’s stock valued at $895,499,000 after purchasing an additional 14,369,056 shares in the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Loop Capital dropped their price target on Comcast from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. BNP Paribas raised shares of Comcast from an “underperform” rating to a “neutral” rating and set a $35.00 price target on the stock in a report on Friday, January 31st. StockNews.com raised shares of Comcast from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 27th. The Goldman Sachs Group reduced their target price on Comcast from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. cut their price target on Comcast from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.83.

Comcast Price Performance

CMCSA stock opened at $36.01 on Wednesday. The stock has a 50-day moving average price of $35.86 and a two-hundred day moving average price of $39.14. The company has a market cap of $136.15 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09. Comcast Co. has a 12-month low of $32.50 and a 12-month high of $45.31.

Comcast (NASDAQ:CMCSA) last issued its 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 return on equity of 19.98% and a net margin of 13.09%. As a group, research analysts predict that Comcast Co. will post 4.33 EPS for the current year.

Comcast Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 2nd will be issued a $0.33 dividend. This is an increase from Comcast’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 3.67%. The ex-dividend date is Wednesday, April 2nd. Comcast’s dividend payout ratio is currently 31.81%.

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.