Cambridge Trust Co. Sells 4,657 Shares of Comcast Co. (NASDAQ:CMCSA)

Cambridge Trust Co. cut its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 35.6% during the first quarter, Holdings Channel reports. The fund owned 8,420 shares of the cable giant’s stock after selling 4,657 shares during the period. Cambridge Trust Co.’s holdings in Comcast were worth $365,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Luken Investment Analytics LLC increased its position in Comcast by 258.0% in the first quarter. Luken Investment Analytics LLC now owns 580 shares of the cable giant’s stock worth $25,000 after purchasing an additional 418 shares during the period. Steph & Co. raised its stake in shares of Comcast by 154.6% during the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after buying an additional 371 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new position in Comcast in the fourth quarter valued at approximately $28,000. Pineridge Advisors LLC acquired a new stake in shares of Comcast during the fourth quarter worth $32,000. Finally, Financial Synergies Wealth Advisors Inc. increased its holdings in Comcast by 336.9% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock valued at $33,000 after purchasing an additional 593 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 target price for the company. in a research report on Tuesday, June 11th. Scotiabank cut their price objective on Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a report on Friday, April 26th. The Goldman Sachs Group began coverage on Comcast in a research note on Tuesday, June 25th. They set a “buy” rating and a $44.00 target price for the company. Citigroup cut their price target on shares of Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Finally, Pivotal Research dropped their price objective on shares of Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.01.

Insiders Place Their Bets

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total value of $10,134,384.37. Following the completion of the transaction, the insider now owns 2,000,000 shares of the company’s stock, valued at $6,380,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.26% of the company’s stock.

Comcast Stock Performance

Shares of NASDAQ CMCSA traded down $0.36 during trading hours on Friday, reaching $39.90. 25,951,665 shares of the stock were exchanged, compared to its average volume of 21,184,204. The stock’s fifty day simple moving average is $38.70 and its 200 day simple moving average is $40.57. The firm has a market capitalization of $154.51 billion, a price-to-earnings ratio of 10.56, a P/E/G ratio of 1.07 and a beta of 1.00. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.46. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The company had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. During the same quarter in the previous year, the business posted $1.13 earnings per share. Comcast’s quarterly revenue was down 2.7% on a year-over-year basis. Sell-side analysts predict that Comcast Co. will post 4.23 EPS for the current year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Wednesday, October 2nd. Comcast’s dividend payout ratio is currently 32.80%.

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, sky-branded entertainment television networks, and advertising.