Whittier Trust Co. reduced its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 412,235 shares of the cable giant's stock after selling 10,987 shares during the period. Whittier Trust Co.'s holdings in Comcast were worth $15,207,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Inlight Wealth Management LLC purchased a new stake in shares of Comcast during the 1st quarter worth about $26,000. Abound Financial LLC bought a new position in shares of Comcast in the 1st quarter valued at approximately $29,000. Retirement Wealth Solutions LLC raised its stake 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 valued at $30,000 after acquiring an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new position in shares of Comcast in the 4th quarter valued at approximately $33,000. Finally, Global Wealth Strategies & Associates raised its stake in shares of Comcast by 203.4% in 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.
Comcast Trading Up 0.9%
NASDAQ:CMCSA traded up $0.30 on Thursday, reaching $34.70. The company's stock had a trading volume of 17,542,010 shares, compared to its average volume of 21,965,736. Comcast Corporation has a 1-year low of $31.44 and a 1-year high of $45.31. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $129.56 billion, a PE ratio of 8.53, a PEG ratio of 1.68 and a beta of 0.95. The business's 50-day moving average price is $34.99 and its two-hundred day moving average price is $35.37.
Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.08. The company had revenue of $29.89 billion during the quarter, compared to analysts' expectations of $29.82 billion. Comcast had a return on equity of 19.70% and a net margin of 12.72%. Comcast's revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.04 earnings per share. Equities research analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.
Comcast Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 annualized dividend and a yield of 3.80%. Comcast's payout ratio is presently 32.43%.
Wall Street Analyst Weigh In
A number of analysts have issued reports on CMCSA shares. TD Cowen lowered their target price on Comcast from $46.00 to $45.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Citigroup lowered their target price on Comcast from $44.00 to $39.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Rothschild & Co Redburn lowered their target price on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Argus lowered Comcast from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, Moffett Nathanson raised their target price on Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $41.10.
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About Comcast
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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.
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