Comcast Co. (NASDAQ:CMCSA) Shares Sold by M&T Bank Corp

M&T Bank Corp lowered its position in shares of Comcast Co. (NASDAQ:CMCSA) by 37.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 949,462 shares of the cable giant’s stock after selling 570,677 shares during the quarter. M&T Bank Corp’s holdings in Comcast were worth $39,659,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Fairscale Capital LLC purchased a new stake in shares of Comcast in the second quarter valued at $26,000. Strategic Financial Concepts LLC purchased a new stake in Comcast in the 2nd quarter valued at about $27,000. McClarren Financial Advisors Inc. increased its stake in shares of Comcast by 365.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 570 shares during the last quarter. Safe Harbor Fiduciary LLC purchased a new position in shares of Comcast during the 3rd quarter worth about $30,000. Finally, Archer Investment Corp boosted its position in shares of Comcast by 177.1% in the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after acquiring an additional 519 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Comcast

In other news, CEO Brian L. Roberts sold 234,464 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the completion of the transaction, the chief executive officer now directly owns 6,669,928 shares of the company’s stock, valued at approximately $284,539,128.48. This represents a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael J. Cavanagh sold 25,537 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total value of $1,087,620.83. Following the completion of the sale, the president now directly owns 534,849 shares in the company, valued at approximately $22,779,218.91. This trade represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Comcast Stock Up 2.2 %

Shares of NASDAQ:CMCSA opened at $38.22 on Friday. The firm has a market cap of $146.25 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 1.50 and a beta of 0.99. The company has a fifty day simple moving average of $42.03 and a 200 day simple moving average of $40.29. 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 Co. has a 12-month low of $36.43 and a 12-month high of $47.11.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.06. The company had revenue of $32.07 billion during the quarter, compared to the consensus estimate of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.08 EPS. On average, equities research analysts anticipate that Comcast Co. will post 4.26 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s dividend payout ratio is presently 33.33%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Comcast from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Evercore ISI raised Comcast to a “strong-buy” rating in a research report on Thursday, November 21st. Scotiabank raised Comcast from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $47.75 to $48.00 in a research report on Friday, November 1st. Macquarie lifted their price objective on Comcast from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and two have issued a strong 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 price target of $47.06.

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.