Union Savings Bank Sells 1,724 Shares of Comcast Co. (NASDAQ:CMCSA)

Union Savings Bank reduced its stake in Comcast Co. (NASDAQ:CMCSA) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,376 shares of the cable giant’s stock after selling 1,724 shares during the period. Union Savings Bank’s holdings in Comcast were worth $849,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Greenwich Wealth Management LLC grew its stake in shares of Comcast by 2.6% during the fourth quarter. Greenwich Wealth Management LLC now owns 8,492 shares of the cable giant’s stock worth $372,000 after acquiring an additional 219 shares during the last quarter. Legend Financial Advisors Inc. lifted its stake in Comcast by 17.5% during the 4th quarter. Legend Financial Advisors Inc. now owns 1,478 shares of the cable giant’s stock valued at $65,000 after acquiring an additional 220 shares during the period. Beaumont Asset Management L.L.C. boosted its holdings in shares of Comcast by 1.6% in the 4th quarter. Beaumont Asset Management L.L.C. now owns 14,141 shares of the cable giant’s stock valued at $620,000 after acquiring an additional 226 shares during the last quarter. Keystone Financial Services increased its stake in shares of Comcast by 1.1% in the fourth quarter. Keystone Financial Services now owns 20,432 shares of the cable giant’s stock worth $896,000 after acquiring an additional 229 shares during the period. Finally, Forum Financial Management LP raised its holdings in shares of Comcast by 0.4% during the third quarter. Forum Financial Management LP now owns 57,388 shares of the cable giant’s stock worth $2,545,000 after purchasing an additional 247 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on CMCSA. Benchmark restated a “buy” rating and issued a $55.00 price objective on shares of Comcast in a research report on Monday, May 13th. Citigroup dropped their price target on shares of Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Scotiabank lowered their target price on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft cut their price target on Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Finally, StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 22nd. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

Comcast Stock Performance

Shares of CMCSA traded down $0.32 during midday trading on Wednesday, reaching $38.89. 17,750,643 shares of the stock were exchanged, compared to its average volume of 20,627,879. The company has a market capitalization of $152.59 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 0.98 and a beta of 0.99. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.59 and a quick ratio of 0.59. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.46. The business’s 50-day moving average price is $40.46 and its 200 day moving average price is $42.11.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.06. The company had revenue of $30.06 billion for the quarter, compared to the consensus estimate of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. Comcast’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $0.92 EPS. On average, sell-side analysts expect that Comcast Co. will post 4.21 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be given a dividend of $0.31 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $1.24 annualized dividend and a dividend yield of 3.19%. Comcast’s payout ratio is currently 32.80%.

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.