Canandaigua National Bank & Trust Co. trimmed its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 42.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,372 shares of the cable giant's stock after selling 30,157 shares during the quarter. Canandaigua National Bank & Trust Co.'s holdings in Comcast were worth $1,527,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the business. Promus Capital LLC purchased a new stake in shares of Comcast in the fourth quarter valued at about $25,000. Inlight Wealth Management LLC purchased a new stake in shares of Comcast during the 1st quarter worth $26,000. Retirement Wealth Solutions LLC grew its holdings in shares of Comcast by 126.9% in the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after acquiring an additional 448 shares during the period. Mpwm Advisory Solutions LLC acquired a new stake in Comcast in the 4th quarter valued at about $33,000. Finally, Global Wealth Strategies & Associates increased its holdings in Comcast by 203.4% during the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after acquiring an additional 600 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on CMCSA shares. BNP Paribas downgraded Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 price target for the company. in a research report on Thursday, April 10th. UBS Group set a $44.50 price objective on shares of Comcast in a research report on Friday, April 25th. Citigroup reduced their price objective on shares of Comcast from $44.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. KeyCorp cut their price target on Comcast from $47.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, Oppenheimer reduced their price target on Comcast from $55.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $42.10.
Get Our Latest Research Report on Comcast
Comcast Trading Up 1.0%
Shares of CMCSA stock opened at $35.69 on Tuesday. The firm's 50 day moving average price is $34.65 and its two-hundred day moving average price is $35.55. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.06. Comcast Corporation has a fifty-two week low of $31.44 and a fifty-two week high of $45.31. The stock has a market cap of $133.26 billion, a price-to-earnings ratio of 8.77, a price-to-earnings-growth ratio of 1.71 and a beta of 0.95.
Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The firm had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $29.82 billion. During the same quarter in the previous year, the firm posted $1.04 EPS. The firm's quarterly revenue was down .6% on a year-over-year basis. On average, analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.
Comcast Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $1.32 annualized dividend and a dividend yield of 3.70%. Comcast's payout ratio is 32.43%.
About Comcast
(
Free Report)
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.
Further Reading
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