M&T Bank Corp Decreases Stock Holdings in Comcast Corporation (NASDAQ:CMCSA)

M&T Bank Corp trimmed its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 16.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 744,897 shares of the cable giant's stock after selling 141,699 shares during the period. M&T Bank Corp's holdings in Comcast were worth $27,487,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Aviva PLC raised its position in shares of Comcast by 7.2% during the 4th quarter. Aviva PLC now owns 2,327,702 shares of the cable giant's stock valued at $87,359,000 after buying an additional 156,986 shares in the last quarter. DAVENPORT & Co LLC raised its position in Comcast by 41.7% in the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock worth $157,766,000 after purchasing an additional 1,261,278 shares during the period. First Eagle Investment Management LLC raised its position in Comcast by 7.1% in the 4th quarter. First Eagle Investment Management LLC now owns 34,101,077 shares of the cable giant's stock worth $1,279,813,000 after purchasing an additional 2,270,186 shares during the period. Geode Capital Management LLC raised its position in Comcast by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant's stock worth $3,212,244,000 after purchasing an additional 1,006,272 shares during the period. Finally, Transcend Capital Advisors LLC raised its position in Comcast by 21.7% in the 1st quarter. Transcend Capital Advisors LLC now owns 76,791 shares of the cable giant's stock worth $2,834,000 after purchasing an additional 13,678 shares during the period. 84.32% of the stock is owned by institutional investors.

Comcast Stock Down 1.2%

Shares of NASDAQ CMCSA traded down $0.43 during midday trading on Friday, hitting $34.99. The stock had a trading volume of 16,862,759 shares, compared to its average volume of 21,995,037. The business's 50 day moving average is $34.96 and its 200-day moving average is $35.41. The company has a market cap of $130.64 billion, a P/E ratio of 8.60, a PEG ratio of 1.69 and a beta of 0.95. Comcast Corporation has a 52 week low of $31.44 and a 52 week high of $45.31. 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 (NASDAQ:CMCSA - Get Free Report) last issued its 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. The firm had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $29.82 billion. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The business's revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.04 earnings per share. As a group, analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be issued 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 3.77%. Comcast's payout ratio is 32.43%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Oppenheimer decreased their target price on shares of Comcast from $55.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Evercore ISI decreased their target price on shares of Comcast from $44.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. New Street Research decreased their target price on shares of Comcast from $44.00 to $38.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Scotiabank boosted their price objective on shares of Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research report on Friday. Finally, The Goldman Sachs Group decreased their price objective on shares of Comcast from $44.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $40.98.

About Comcast

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.