Penobscot Investment Management Company Inc. Sells 12,835 Shares of Comcast Corporation (NASDAQ:CMCSA)

Penobscot Investment Management Company Inc. trimmed its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 36.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,125 shares of the cable giant's stock after selling 12,835 shares during the period. Penobscot Investment Management Company Inc.'s holdings in Comcast were worth $816,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CMCSA. Brighton Jones LLC increased its stake in shares of Comcast by 150.9% in the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock worth $6,240,000 after purchasing an additional 99,986 shares in the last quarter. IFP Advisors Inc increased its stake in Comcast by 4.1% in the 4th quarter. IFP Advisors Inc now owns 42,222 shares of the cable giant's stock worth $1,585,000 after buying an additional 1,645 shares in the last quarter. Lake Street Advisors Group LLC increased its stake in Comcast by 4.1% in the 4th quarter. Lake Street Advisors Group LLC now owns 44,944 shares of the cable giant's stock worth $1,687,000 after buying an additional 1,751 shares in the last quarter. Simmons Bank increased its stake in Comcast by 1.0% in the 4th quarter. Simmons Bank now owns 83,800 shares of the cable giant's stock worth $3,145,000 after buying an additional 826 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in Comcast in the 4th quarter worth $47,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Up 1.1%

Shares of NASDAQ:CMCSA opened at $35.21 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.06. Comcast Corporation has a 12 month low of $31.44 and a 12 month high of $45.31. The company has a 50-day moving average price of $34.58 and a 200 day moving average price of $35.67. The company has a market cap of $131.46 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 1.68 and a beta of 0.95.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $29.82 billion. During the same quarter last year, the firm earned $1.04 EPS. The firm's revenue for the quarter was down .6% 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast's payout ratio is currently 32.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wells Fargo & Company lowered Comcast from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $37.00 to $31.00 in a research note on Monday, April 14th. Wall Street Zen upgraded Comcast from a "buy" rating to a "strong-buy" rating in a research note on Thursday, February 27th. KeyCorp cut their price target on Comcast from $47.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Barclays cut their price target on Comcast from $37.00 to $35.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. Finally, Morgan Stanley set a $37.00 price objective on shares of Comcast in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.10.

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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