Central Bank & Trust Co. Sells 12,686 Shares of Comcast Corporation $CMCSA

Key Points

• Central Bank & Trust Co. has reduced its stake in Comcast by 21.4%, selling 12,686 shares and leaving them with 46,584 shares valued at approximately $1.66 million.
• Analysts have issued mixed ratings for Comcast, with a consensus rating of "Hold" and a price target averaging $40.56, indicating varying confidence in the stock's future performance.
• Comcast is set to pay a quarterly dividend of $0.33 per share, reflecting an annualized dividend yield of 4.0%, scheduled for distribution on October 22nd.

Central Bank & Trust Co. reduced its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 21.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,584 shares of the cable giant's stock after selling 12,686 shares during the quarter. Central Bank & Trust Co.'s holdings in Comcast were worth $1,663,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CMCSA. Inlight Wealth Management LLC acquired a new position in shares of Comcast in the first quarter worth approximately $26,000. Abound Financial LLC acquired a new position in shares of Comcast in the first quarter worth approximately $29,000. Ransom Advisory Ltd acquired a new position in shares of Comcast in the first quarter worth approximately $29,000. Retirement Wealth Solutions LLC lifted its stake in shares of Comcast by 126.9% in the first 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. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of Comcast in the fourth quarter worth approximately $33,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CMCSA. Moffett Nathanson boosted their price target on Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Scotiabank boosted their price target on Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Citigroup reissued a "buy" rating on shares of Comcast in a research note on Tuesday, August 26th. Sanford C. Bernstein dropped their price target on Comcast from $37.00 to $36.00 and set a "market perform" rating on the stock in a research note on Wednesday, September 10th. Finally, Barclays dropped their price target on Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $40.56.

Comcast Stock Down 1.3%

CMCSA stock opened at $32.62 on Tuesday. Comcast Corporation has a fifty-two week low of $31.03 and a fifty-two week high of $45.31. The stock has a fifty day moving average of $33.73 and a 200-day moving average of $34.56. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $120.44 billion, a price-to-earnings ratio of 5.39, a PEG ratio of 1.98 and a beta of 0.93.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The business had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. During the same quarter last year, the company earned $1.21 EPS. The firm's revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be paid a $0.33 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 4.0%. Comcast's dividend payout ratio (DPR) is currently 21.82%.

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.

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