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

GC Wealth Management RIA LLC trimmed its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 9.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,003 shares of the cable giant’s stock after selling 1,399 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Comcast were worth $526,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of CMCSA. Raymond James Financial Inc. acquired a new position in Comcast in the fourth quarter worth about $743,681,000. Amundi boosted its stake in Comcast by 147.9% in the fourth quarter. Amundi now owns 24,086,671 shares of the cable giant’s stock valued at $895,499,000 after acquiring an additional 14,369,056 shares during the period. Wilmington Savings Fund Society FSB boosted its stake in Comcast by 55,334.5% in the third quarter. Wilmington Savings Fund Society FSB now owns 8,273,052 shares of the cable giant’s stock valued at $345,565,000 after acquiring an additional 8,258,128 shares during the period. FMR LLC boosted its stake in Comcast by 5.4% in the third quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock valued at $4,904,647,000 after acquiring an additional 6,062,658 shares during the period. Finally, Public Sector Pension Investment Board boosted its stake in Comcast by 530.5% in the third quarter. Public Sector Pension Investment Board now owns 3,429,298 shares of the cable giant’s stock valued at $143,242,000 after acquiring an additional 2,885,370 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price on Comcast from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Evercore ISI upgraded Comcast to a “strong-buy” rating in a research note on Thursday, November 21st. Sanford C. Bernstein set a $38.00 target price on Comcast in a research note on Friday, January 31st. Scotiabank downgraded Comcast from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $48.00 to $44.50 in a research note on Monday, February 3rd. Finally, Bank of America downgraded Comcast from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $50.00 to $38.00 in a research report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.83.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $35.95 on Wednesday. The stock has a market cap of $135.93 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 1.78 and a beta of 1.00. Comcast Co. has a 12 month low of $32.50 and a 12 month high of $45.31. The stock’s 50 day moving average price is $36.07 and its 200 day moving average price is $39.29. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.68.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. Equities research analysts anticipate that Comcast Co. will post 4.33 earnings per share for the current fiscal year.

Comcast Increases Dividend

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

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.