Monte Financial Group LLC Sells 155,647 Shares of Comcast Corporation $CMCSA

Monte Financial Group LLC lessened its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 79.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,557 shares of the cable giant’s stock after selling 155,647 shares during the quarter. Monte Financial Group LLC’s holdings in Comcast were worth $1,212,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. OFI Invest Asset Management lifted its holdings in shares of Comcast by 327.4% during the fourth quarter. OFI Invest Asset Management now owns 15,648 shares of the cable giant’s stock worth $438,000 after purchasing an additional 11,987 shares during the period. Hartford Financial Management Inc. lifted its holdings in shares of Comcast by 15.0% during the fourth quarter. Hartford Financial Management Inc. now owns 8,674 shares of the cable giant’s stock worth $259,000 after purchasing an additional 1,134 shares during the period. Oak Thistle LLC acquired a new position in shares of Comcast during the fourth quarter worth $1,323,000. BIP Wealth LLC lifted its holdings in shares of Comcast by 6.5% during the fourth quarter. BIP Wealth LLC now owns 7,549 shares of the cable giant’s stock worth $226,000 after purchasing an additional 461 shares during the period. Finally, Greenleaf Trust lifted its holdings in shares of Comcast by 2.0% during the fourth quarter. Greenleaf Trust now owns 65,106 shares of the cable giant’s stock worth $1,946,000 after purchasing an additional 1,266 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Insider Buying and Selling at Comcast

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total value of $1,892,549.02. Following the sale, the chief executive officer owned 622,336 shares in the company, valued at $20,325,493.76. This represents a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.32% of the stock is owned by corporate insiders.

Comcast Trading Up 0.6%

CMCSA opened at $27.96 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. Comcast Corporation has a fifty-two week low of $25.75 and a fifty-two week high of $36.66. The firm has a market capitalization of $100.60 billion, a PE ratio of 5.21, a P/E/G ratio of 2.26 and a beta of 0.80. The company’s 50-day moving average is $30.21 and its 200 day moving average is $29.27.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The company had revenue of $32.31 billion for the quarter, compared to analyst estimates of $32.35 billion. During the same quarter in the prior year, the business posted $0.96 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. As a group, research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio is currently 24.58%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CMCSA. Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a report on Friday, January 9th. Zacks Research upgraded Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. BNP Paribas Exane dropped their price target on Comcast from $26.00 to $25.00 and set an “underperform” rating on the stock in a research note on Wednesday. The Goldman Sachs Group dropped their price target on Comcast from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 25th. Finally, Bank of America raised Comcast from a “neutral” rating to a “buy” rating and boosted their price target for the company from $31.00 to $37.00 in a research note on Monday, January 12th. Ten research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Comcast currently has a consensus rating of “Hold” and an average price target of $34.68.

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.