Chesapeake Wealth Management Lowers Position in Comcast Co. (NASDAQ:CMCSA)

Chesapeake Wealth Management lessened its position in Comcast Co. (NASDAQ:CMCSA) by 4.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,352 shares of the cable giant’s stock after selling 284 shares during the quarter. Chesapeake Wealth Management’s holdings in Comcast were worth $265,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Caprock Group LLC lifted its stake in shares of Comcast by 3.8% in the 3rd quarter. Caprock Group LLC now owns 146,544 shares of the cable giant’s stock valued at $6,121,000 after purchasing an additional 5,386 shares during the period. Lindenwold Advisors INC increased its position in Comcast by 1.7% during the 3rd quarter. Lindenwold Advisors INC now owns 30,908 shares of the cable giant’s stock valued at $1,291,000 after buying an additional 522 shares in the last quarter. Aviance Capital Partners LLC increased its position in Comcast by 17.6% during the 3rd quarter. Aviance Capital Partners LLC now owns 64,300 shares of the cable giant’s stock valued at $2,686,000 after buying an additional 9,640 shares in the last quarter. Baron Wealth Management LLC bought a new position in Comcast during the 3rd quarter valued at approximately $273,000. Finally, OneAscent Wealth Management LLC increased its position in Comcast by 2.7% during the 3rd quarter. OneAscent Wealth Management LLC now owns 11,613 shares of the cable giant’s stock valued at $485,000 after buying an additional 305 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analysts Set New Price Targets

CMCSA has been the subject of a number of analyst reports. StockNews.com lowered Comcast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. KeyCorp lifted their price objective on Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Wells Fargo & Company lifted their price objective on Comcast from $43.00 to $46.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Macquarie lifted their price objective on Comcast from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Pivotal Research lifted their price objective on Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.88.

Comcast Trading Up 0.3 %

Shares of CMCSA stock opened at $43.00 on Tuesday. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.11. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14. The stock’s 50-day moving average price is $41.67 and its 200-day moving average price is $39.93. The stock has a market capitalization of $164.54 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The firm had revenue of $32.07 billion for the quarter, compared to analysts’ expectations of $31.78 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year. Equities research analysts predict that Comcast Co. will post 4.25 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 annualized dividend and a yield of 2.88%. Comcast’s payout ratio is currently 33.33%.

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.