Ritholtz Wealth Management Sells 8,510 Shares of Comcast Co. (NASDAQ:CMCSA)

Ritholtz Wealth Management reduced its stake in Comcast Co. (NASDAQ:CMCSA) by 9.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,351 shares of the cable giant’s stock after selling 8,510 shares during the period. Ritholtz Wealth Management’s holdings in Comcast were worth $3,186,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in shares of Comcast by 150.9% in the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock valued at $6,240,000 after purchasing an additional 99,986 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its stake in Comcast by 2.5% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 55,027 shares of the cable giant’s stock worth $2,065,000 after buying an additional 1,338 shares in the last quarter. Roxbury Financial LLC purchased a new stake in Comcast during the fourth quarter worth $27,000. TigerOak Management L.L.C. bought a new stake in Comcast during the 4th quarter valued at $379,000. Finally, Palumbo Wealth Management LLC increased its holdings in shares of Comcast by 263.2% in the 4th quarter. Palumbo Wealth Management LLC now owns 45,790 shares of the cable giant’s stock valued at $1,718,000 after acquiring an additional 33,181 shares during the period. Institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

Shares of CMCSA opened at $35.01 on Monday. The business’s 50-day moving average is $34.46 and its two-hundred day moving average is $36.06. The company has a market capitalization of $130.72 billion, a P/E ratio of 8.44, a P/E/G ratio of 1.78 and a beta of 0.95. Comcast Co. has a fifty-two week low of $31.44 and a fifty-two week high of $45.31. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.68.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. The firm had revenue of $29.89 billion for the quarter, compared to analyst estimates of $29.82 billion. During the same period last year, the company earned $1.04 earnings per share. Comcast’s revenue for the quarter was down .6% compared to the same quarter last year. Research analysts predict that Comcast Co. will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Wednesday, July 2nd. Comcast’s dividend payout ratio is currently 32.43%.

Wall Street Analyst Weigh In

CMCSA has been the topic of a number of recent research reports. Argus downgraded Comcast from a “buy” rating to a “hold” rating in a research report on Tuesday, May 6th. Wall Street Zen upgraded shares of Comcast from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 27th. Rosenblatt Securities reiterated a “neutral” rating and set a $36.00 price objective on shares of Comcast in a research note on Monday, April 28th. Barclays decreased their target price on shares of Comcast from $37.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday, April 28th. Finally, Morgan Stanley set a $37.00 price target on Comcast in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Comcast presently has an average rating of “Moderate Buy” and a consensus price target of $42.10.

Comcast 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.