Colonial Trust Co SC Reduces Stock Holdings in Comcast Corporation $CMCSA

Colonial Trust Co SC cut its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 23.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 62,127 shares of the cable giant’s stock after selling 19,101 shares during the period. Colonial Trust Co SC’s holdings in Comcast were worth $1,952,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Capital A Wealth Management LLC boosted its stake in shares of Comcast by 173.7% in the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after purchasing an additional 436 shares during the period. Avalon Trust Co lifted its holdings in Comcast by 433.3% in the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after buying an additional 624 shares in the last quarter. Howard Hughes Medical Institute purchased a new position in Comcast in the 2nd quarter valued at about $29,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Comcast during the second quarter valued at about $31,000. Finally, Corsicana & Co. acquired a new stake in shares of Comcast during the third quarter valued at about $32,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CMCSA. Evercore cut their price target on Comcast from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Bank of America raised Comcast from a “neutral” rating to a “buy” rating and upped their target price for the company from $31.00 to $37.00 in a research report on Monday, January 12th. Citigroup reissued a “buy” rating and set a $33.00 price target (up previously from $32.79) on shares of Comcast in a research report on Friday, January 30th. Williams Trading set a $40.00 price target on shares of Comcast in a research note on Friday, October 31st. Finally, Scotiabank cut their price target on shares of Comcast from $37.50 to $35.25 and set a “sector perform” rating on the stock in a report on Friday, January 30th. Ten investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Comcast has a consensus rating of “Hold” and a consensus target price of $34.90.

Comcast Stock Performance

Shares of CMCSA opened at $31.63 on Tuesday. The stock has a market capitalization of $113.80 billion, a PE ratio of 5.89, a price-to-earnings-growth ratio of 2.44 and a beta of 0.81. The business’s fifty day moving average price is $29.78 and its 200 day moving average price is $30.03. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $37.97.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The company had revenue of $32.31 billion for the quarter, compared to analysts’ expectations of $32.35 billion. During the same period in the prior year, the company earned $0.96 earnings per share. The firm’s revenue was up 1.2% compared to the same quarter last year. Equities research analysts forecast that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Wednesday, April 1st. Comcast’s payout ratio is presently 24.58%.

Insider Buying and Selling

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the transaction, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.26% of the stock is currently owned by insiders.

Comcast Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.