Walled Lake Planning & Wealth Management LLC Cuts Position in Comcast Co. (NASDAQ:CMCSA)

Walled Lake Planning & Wealth Management LLC reduced its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 9.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,701 shares of the cable giant’s stock after selling 810 shares during the quarter. Walled Lake Planning & Wealth Management LLC’s holdings in Comcast were worth $289,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Financial Counselors Inc. increased its position in shares of Comcast by 3.1% during the third quarter. Financial Counselors Inc. now owns 45,328 shares of the cable giant’s stock worth $1,893,000 after purchasing an additional 1,354 shares in the last quarter. Fred Alger Management LLC increased its position in Comcast by 3.5% during the 3rd quarter. Fred Alger Management LLC now owns 134,166 shares of the cable giant’s stock valued at $5,604,000 after buying an additional 4,586 shares in the last quarter. Encompass More Asset Management raised its stake in Comcast by 5.0% in the third quarter. Encompass More Asset Management now owns 8,748 shares of the cable giant’s stock valued at $365,000 after buying an additional 414 shares during the last quarter. ARGA Investment Management LP boosted its holdings in Comcast by 45.7% in the third quarter. ARGA Investment Management LP now owns 260,458 shares of the cable giant’s stock worth $10,879,000 after acquiring an additional 81,636 shares in the last quarter. Finally, Semmax Financial Advisors Inc. grew its stake in shares of Comcast by 1.1% during the third quarter. Semmax Financial Advisors Inc. now owns 140,357 shares of the cable giant’s stock worth $6,181,000 after acquiring an additional 1,545 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CMCSA shares. Seaport Res Ptn raised shares of Comcast from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Macquarie lowered their price objective on shares of Comcast from $42.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. StockNews.com raised Comcast from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 27th. Sanford C. Bernstein set a $38.00 price target on Comcast in a research note on Friday, January 31st. Finally, Wells Fargo & Company cut their price objective on Comcast from $45.00 to $37.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Ten analysts have rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Comcast has an average rating of “Moderate Buy” and an average target price of $43.64.

Comcast Trading Down 2.0 %

Shares of CMCSA stock opened at $36.62 on Friday. The stock has a 50 day simple moving average of $35.89 and a 200-day simple moving average of $38.99. Comcast Co. has a 1-year low of $32.50 and a 1-year high of $45.31. The company has a market cap of $138.46 billion, a price-to-earnings ratio of 8.82, a PEG ratio of 1.78 and a beta of 1.00. 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 announced its earnings results on Thursday, January 30th. The cable giant reported $0.96 EPS for the quarter, beating 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%. On average, equities research analysts expect that Comcast Co. will post 4.33 EPS for the current fiscal year.

Comcast Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Wednesday, April 2nd. This is a boost from Comcast’s previous quarterly dividend of $0.31. Comcast’s payout ratio is 31.81%.

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.