Kennebec Savings Bank Takes Position in Comcast Co. (NASDAQ:CMCSA)

Kennebec Savings Bank bought a new stake in Comcast Co. (NASDAQ:CMCSA) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 828 shares of the cable giant’s stock, valued at approximately $35,000.

Several other institutional investors also recently bought and sold shares of the company. Fairscale Capital LLC purchased a new position in shares of Comcast in the second quarter worth $26,000. Strategic Financial Concepts LLC purchased a new position in shares of Comcast during the second quarter worth $27,000. IAG Wealth Partners LLC raised its holdings in shares of Comcast by 204.7% during the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after purchasing an additional 522 shares during the last quarter. McClarren Financial Advisors Inc. raised its holdings in shares of Comcast by 365.4% during the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after purchasing an additional 570 shares during the last quarter. Finally, Archer Investment Corp raised its holdings in shares of Comcast by 177.1% during the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after purchasing an additional 519 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CMCSA. Macquarie reissued a “neutral” rating and set a $40.00 target price on shares of Comcast in a report on Friday, November 1st. Scotiabank raised shares of Comcast from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $47.75 to $48.00 in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a report on Friday, November 1st. KeyCorp lifted their price objective on shares of Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Pivotal Research lifted their price objective on shares of Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Comcast presently has an average rating of “Moderate Buy” and an average price target of $46.75.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $44.20 on Tuesday. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11. The stock has a market cap of $169.13 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 1.66 and a beta of 1.00. The company’s 50-day moving average price is $41.18 and its 200 day moving average price is $39.70. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.06. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The company had revenue of $32.07 billion for the quarter, compared to analysts’ expectations of $31.78 billion. During the same period last year, the company earned $1.08 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, research analysts forecast that Comcast Co. will post 4.25 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, January 29th. Investors of record on Wednesday, January 8th will be issued a $0.31 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 annualized dividend and a yield of 2.81%. Comcast’s payout ratio is 33.33%.

About Comcast

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.