Comcast (NASDAQ:CMCSA) Trading Down 1.1%

Comcast Co. (NASDAQ:CMCSAGet Free Report) shares dropped 1.1% on Wednesday . The company traded as low as $36.75 and last traded at $36.90. Approximately 22,444,935 shares were traded during mid-day trading, an increase of 31% from the average daily volume of 17,129,264 shares. The stock had previously closed at $37.31.

Analyst Upgrades and Downgrades

CMCSA has been the topic of a number of research analyst reports. Benchmark reiterated a “buy” rating and issued a $55.00 price target on shares of Comcast in a report on Monday, May 13th. Macquarie cut their target price on shares of Comcast from $43.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Citigroup cut their target price 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, StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.83.

Read Our Latest Research Report on CMCSA

Comcast Price Performance

The company has a market capitalization of $144.78 billion, a P/E ratio of 9.76, a P/E/G ratio of 0.93 and a beta of 1.00. The business’s 50-day simple moving average is $38.93 and its 200 day simple moving average is $41.61. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.13.

Comcast (NASDAQ:CMCSAGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The company had revenue of $30.06 billion for the quarter, compared to the consensus estimate of $29.83 billion. During the same period in the previous year, the firm earned $0.92 EPS. Comcast’s revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Comcast Co. will post 4.21 EPS for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be issued a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.36%. Comcast’s payout ratio is currently 32.80%.

Insider Buying and Selling

In other news, major shareholder Corp Comcast sold 3,176,923 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the sale, the insider now owns 2,000,000 shares in the company, valued at $6,380,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.26% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMCSA. Wealthspire Advisors LLC lifted its stake in shares of Comcast by 4.8% in the fourth quarter. Wealthspire Advisors LLC now owns 60,650 shares of the cable giant’s stock worth $2,659,000 after buying an additional 2,781 shares during the last quarter. Everett Harris & Co. CA raised its stake in Comcast by 7.7% during the 4th quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock valued at $73,993,000 after purchasing an additional 121,279 shares during the last quarter. Desjardins Global Asset Management Inc. raised its stake in Comcast by 1.5% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock valued at $4,438,000 after purchasing an additional 1,486 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in Comcast during the 4th quarter valued at $2,056,000. Finally, Axxcess Wealth Management LLC raised its stake in Comcast by 10.5% during the 4th quarter. Axxcess Wealth Management LLC now owns 115,503 shares of the cable giant’s stock valued at $5,065,000 after purchasing an additional 10,936 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

About Comcast

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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.

Further Reading

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