Burke & Herbert Bank & Trust Co. cut its stake in Comcast Co. (NASDAQ:CMCSA – Free Report) by 1.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 19,592 shares of the cable giant’s stock after selling 292 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Comcast were worth $814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently added to or reduced their stakes in the stock. Contravisory Investment Management Inc. acquired a new stake in shares of Comcast during the 2nd quarter valued at $428,000. MJP Associates Inc. ADV acquired a new position in shares of Comcast in the 2nd quarter valued at $217,000. Pioneer Trust Bank N A OR increased its stake in Comcast by 14.6% in the 2nd quarter. Pioneer Trust Bank N A OR now owns 124,768 shares of the cable giant’s stock worth $5,184,000 after purchasing an additional 15,920 shares in the last quarter. Buckley Wealth Management LLC raised its holdings in Comcast by 71.0% during the 2nd quarter. Buckley Wealth Management LLC now owns 16,554 shares of the cable giant’s stock worth $688,000 after buying an additional 6,876 shares during the period. Finally, Thrive Wealth Management LLC raised its holdings in Comcast by 1.6% during the 2nd quarter. Thrive Wealth Management LLC now owns 15,596 shares of the cable giant’s stock worth $648,000 after buying an additional 246 shares during the period. 82.85% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
CMCSA has been the topic of several recent analyst reports. Credit Suisse Group boosted their price objective on Comcast from $50.00 to $54.00 in a report on Thursday, July 27th. Wells Fargo & Company raised their target price on Comcast from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, July 28th. Morgan Stanley raised their target price on Comcast from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Oppenheimer raised their target price on Comcast from $48.00 to $55.00 in a research report on Friday, July 28th. Finally, Loop Capital raised their target price on Comcast from $50.00 to $53.00 in a research report on Friday, July 28th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.88.
Comcast Stock Performance
Shares of CMCSA traded up $0.39 during trading hours on Monday, reaching $45.73. 4,559,795 shares of the company traded hands, compared to its average volume of 18,766,326. The stock’s fifty day moving average is $44.84 and its 200 day moving average is $41.06. The stock has a market cap of $188.64 billion, a P/E ratio of 28.89, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.76 and a current ratio of 0.76. Comcast Co. has a 1-year low of $28.39 and a 1-year high of $47.46.
Comcast (NASDAQ:CMCSA – Get Free Report) last posted its quarterly earnings results on Thursday, July 27th. The cable giant reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.15. Comcast had a net margin of 5.40% and a return on equity of 19.79%. The firm had revenue of $30.51 billion for the quarter, compared to the consensus estimate of $30.11 billion. During the same quarter in the previous year, the company earned $1.01 earnings per share. The business’s revenue was up 1.7% compared to the same quarter last year. Equities research analysts anticipate that Comcast Co. will post 3.81 earnings per share for the current fiscal year.
Comcast Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be paid a dividend of $0.29 per share. The ex-dividend date is Tuesday, October 3rd. This represents a $1.16 dividend on an annualized basis and a yield of 2.54%. Comcast’s dividend payout ratio is currently 73.42%.
Comcast Company 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, advertising sales, and Sky channels.
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