Golden State Wealth Management LLC Buys Shares of 3,820 Comcast Co. (NASDAQ:CMCSA)

Golden State Wealth Management LLC purchased a new position in Comcast Co. (NASDAQ:CMCSA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,820 shares of the cable giant’s stock, valued at approximately $143,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AMF Tjanstepension AB raised its holdings in shares of Comcast by 18.9% in the third quarter. AMF Tjanstepension AB now owns 832,594 shares of the cable giant’s stock valued at $34,810,000 after acquiring an additional 132,442 shares in the last quarter. HCR Wealth Advisors purchased a new position in Comcast during the 3rd quarter valued at about $210,000. Matrix Asset Advisors Inc. NY lifted its position in shares of Comcast by 0.9% in the 3rd quarter. Matrix Asset Advisors Inc. NY now owns 730,834 shares of the cable giant’s stock worth $30,527,000 after purchasing an additional 6,218 shares during the period. Cardinal Capital Management Inc. boosted its stake in shares of Comcast by 1.9% during the third quarter. Cardinal Capital Management Inc. now owns 643,491 shares of the cable giant’s stock valued at $26,879,000 after purchasing an additional 11,908 shares in the last quarter. Finally, Koshinski Asset Management Inc. increased its holdings in Comcast by 0.8% during the third quarter. Koshinski Asset Management Inc. now owns 30,584 shares of the cable giant’s stock valued at $1,277,000 after buying an additional 249 shares during the period. 84.32% of the stock is owned by institutional investors.

Comcast Stock Down 0.3 %

Comcast stock opened at $34.37 on Monday. The firm has a market capitalization of $129.95 billion, a P/E ratio of 8.28, a P/E/G ratio of 1.69 and a beta of 1.00. The stock’s fifty day simple moving average is $37.71 and its 200-day simple moving average is $39.87. Comcast Co. has a twelve month low of $32.50 and a twelve month high of $45.31. The company has a current ratio of 0.68, a quick ratio of 0.72 and a debt-to-equity ratio of 1.09.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. As a group, equities analysts expect that Comcast Co. will post 4.33 earnings per share for the current fiscal year.

Comcast Increases Dividend

The firm 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 dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.84%. This is an increase from Comcast’s previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, April 2nd. Comcast’s payout ratio is 29.88%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CMCSA shares. Wells Fargo & Company lowered their target price on Comcast from $45.00 to $37.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Loop Capital dropped their price objective on Comcast from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Scotiabank downgraded shares of Comcast from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $48.00 to $44.50 in a report on Monday, February 3rd. Pivotal Research raised their price target on shares of Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group reduced their price objective on shares of Comcast from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Ten equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Comcast presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.13.

Insider Activity

In other Comcast news, CEO Brian L. Roberts sold 234,464 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the transaction, the chief executive officer now directly owns 6,669,928 shares of the company’s stock, valued at approximately $284,539,128.48. This trade represents a 3.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Michael J. Cavanagh sold 25,537 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the completion of the sale, the president now directly owns 534,849 shares of the company’s stock, valued at $22,779,218.91. The trade was a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.

Comcast Company 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.