Comcast Co. (NASDAQ:CMCSA) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 16.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 837,974 shares of the cable giant’s stock after selling 165,326 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Comcast were worth $35,002,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Fairscale Capital LLC acquired a new position in Comcast in the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC purchased a new position in shares of Comcast during the 2nd quarter valued at approximately $27,000. IAG Wealth Partners LLC lifted its stake in shares of Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 522 shares during the period. McClarren Financial Advisors Inc. boosted its holdings in 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 buying an additional 570 shares in the last quarter. Finally, Archer Investment Corp grew its position in Comcast by 177.1% during the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock valued at $32,000 after buying an additional 519 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CMCSA shares. Scotiabank raised shares of Comcast from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $47.75 to $48.00 in a research note on Friday, November 1st. Wells Fargo & Company raised their price objective on Comcast from $43.00 to $46.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Macquarie lifted their price target on shares of Comcast from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Finally, Pivotal Research upped their price objective on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Comcast presently has an average rating of “Moderate Buy” and a consensus price target of $47.19.

Comcast Stock Performance

NASDAQ CMCSA opened at $42.56 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72. The stock’s fifty day moving average is $42.23 and its two-hundred day moving average is $40.14. The firm has a market capitalization of $162.86 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.11.

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

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s payout ratio is presently 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.