FineMark National Bank & Trust reduced its position in Comcast Co. (NASDAQ:CMCSA) by 9.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,115 shares of the cable giant’s stock after selling 20,067 shares during the period. FineMark National Bank & Trust’s holdings in Comcast were worth $6,484,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. WP Advisors LLC purchased a new stake in Comcast during the 2nd quarter worth approximately $105,000. IMA Wealth Inc. purchased a new stake in Comcast during the 2nd quarter worth approximately $108,000. Prentiss Smith & Co. Inc. increased its holdings in Comcast by 229.5% during the 2nd quarter. Prentiss Smith & Co. Inc. now owns 3,295 shares of the cable giant’s stock worth $108,000 after purchasing an additional 2,295 shares during the last quarter. Acropolis Investment Management LLC purchased a new stake in Comcast during the 3rd quarter worth approximately $126,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Comcast during the 2nd quarter worth approximately $129,000. 80.39% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on CMCSA shares. JPMorgan Chase & Co. started coverage on Comcast in a report on Friday, October 12th. They set an “overweight” rating and a $42.00 price objective on the stock. BidaskClub upgraded Comcast from a “buy” rating to a “strong-buy” rating in a report on Friday, November 2nd. Scotiabank set a $48.00 price objective on Comcast and gave the stock a “buy” rating in a report on Wednesday, October 31st. Pivotal Research restated a “buy” rating and set a $48.00 price objective on shares of Comcast in a report on Thursday, September 20th. Finally, KeyCorp lifted their price objective on Comcast from $38.00 to $43.00 and gave the stock an “overweight” rating in a report on Wednesday, September 26th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $44.57.
Shares of NASDAQ CMCSA opened at $38.34 on Friday. Comcast Co. has a twelve month low of $30.43 and a twelve month high of $44.00. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $177.88 billion, a PE ratio of 15.89, a PEG ratio of 1.21 and a beta of 0.93.
Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 25th. The cable giant reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.04. Comcast had a return on equity of 15.79% and a net margin of 27.33%. The business had revenue of $22.14 billion during the quarter, compared to the consensus estimate of $21.75 billion. On average, equities analysts forecast that Comcast Co. will post 2.53 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 23rd. Stockholders of record on Wednesday, January 2nd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.98%. Comcast’s dividend payout ratio (DPR) is 36.89%.
In related news, EVP Arthur R. Block sold 6,448 shares of the company’s stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $35.48, for a total transaction of $228,775.04. Following the completion of the transaction, the executive vice president now directly owns 74,644 shares in the company, valued at approximately $2,648,369.12. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Arthur R. Block sold 1,082 shares of the company’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $35.94, for a total value of $38,887.08. Following the transaction, the executive vice president now owns 62,476 shares of the company’s stock, valued at $2,245,387.44. The disclosure for this sale can be found here. 1.31% of the stock is currently owned by insiders.
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Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.
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