Trust Co. of Vermont Acquires New Stake in Comcast Corporation $CMCSA

Key Points

• Trust Co. of Vermont acquired 69,165 Comcast shares during the second quarter, valued at approximately $1.7 million. Institutional investors and hedge funds collectively own 84.32% of the company.
• Comcast reported quarterly EPS of $1.04, exceeding the $0.97 analyst consensus, while revenue reached $29.94 billion but declined 1.2% year over year.
• The company declared a quarterly dividend of $0.33, representing an annualized payout of $1.32 and a 5.0% yield. Analysts maintain a consensus “Hold” rating with an average price target of $32.96.

Trust Co. of Vermont purchased a new position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 69,165 shares of the cable giant's stock, valued at approximately $1,698,000.

Several other hedge funds have also made changes to their positions in the business. Brighton Jones LLC boosted its stake in Comcast by 150.9% during 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 during the period. Voya Financial Advisors Inc. boosted its stake in shares of Comcast by 3.2% during the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant's stock worth $2,963,000 after buying an additional 2,593 shares during the period. United Bank boosted its stake in shares of Comcast by 11.3% during the second quarter. United Bank now owns 42,216 shares of the cable giant's stock worth $1,507,000 after buying an additional 4,290 shares during the period. HUB Investment Partners LLC grew its holdings in shares of Comcast by 119.4% during the second quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant's stock worth $606,000 after buying an additional 9,236 shares during the last quarter. Finally, Diversify Advisory Services LLC increased its position in Comcast by 66.8% in the 2nd quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant's stock valued at $1,414,000 after acquiring an additional 15,865 shares during the period. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Trading Up 2.5%

NASDAQ:CMCSA opened at $26.20 on Wednesday. Comcast Corporation has a 52-week low of $21.28 and a 52-week high of $34.45. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94. The stock has a fifty day simple moving average of $23.93 and a 200-day simple moving average of $26.84. The company has a market capitalization of $92.97 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 1.49 and a beta of 0.67.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The firm had revenue of $29.94 billion for the quarter, compared to analysts' expectations of $29.24 billion. During the same period in the prior year, the company earned $1.25 EPS. The firm's revenue was down 1.2% on a year-over-year basis. On average, equities research analysts expect that Comcast Corporation will post 3.52 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be given a $0.33 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 annualized dividend and a dividend yield of 5.0%. Comcast's dividend payout ratio is currently 42.72%.

Analysts Set New Price Targets

Several research analysts have weighed in on CMCSA shares. Rosenblatt Securities reiterated a "buy" rating and issued a $31.00 target price on shares of Comcast in a research note on Friday, July 24th. Evercore upped their price target on Comcast from $35.00 to $36.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. Weiss Ratings lowered shares of Comcast from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. Freedom Capital raised shares of Comcast to a "hold" rating in a report on Friday, June 12th. Finally, Seaport Research Partners upgraded shares of Comcast from a "neutral" rating to a "buy" rating in a research note on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Comcast presently has an average rating of "Hold" and a consensus target price of $32.96.

Comcast Company Profile

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

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