Independence Bank of Kentucky Sells 1,774 Shares of Comcast Co. (NASDAQ:CMCSA)

Independence Bank of Kentucky decreased its position in shares of Comcast Co. (NASDAQ:CMCSA) by 29.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,279 shares of the cable giant’s stock after selling 1,774 shares during the quarter. Independence Bank of Kentucky’s holdings in Comcast were worth $158,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of CMCSA. Brighton Jones LLC raised its stake in shares of Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock worth $6,240,000 after purchasing an additional 99,986 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in Comcast during the fourth quarter worth $1,654,000. Golden State Wealth Management LLC purchased a new stake in Comcast in the 4th quarter valued at $143,000. Northstar Group Inc. lifted its stake in Comcast by 5.6% during the 4th quarter. Northstar Group Inc. now owns 7,575 shares of the cable giant’s stock valued at $284,000 after acquiring an additional 403 shares in the last quarter. Finally, Joel Isaacson & Co. LLC grew its stake in shares of Comcast by 2.4% in the 4th quarter. Joel Isaacson & Co. LLC now owns 166,295 shares of the cable giant’s stock worth $6,241,000 after acquiring an additional 3,821 shares in the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CMCSA. Barclays dropped their price target on shares of Comcast from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. Wall Street Zen upgraded Comcast from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 27th. Scotiabank reaffirmed a “sector perform” rating and issued a $44.50 target price (down from $45.00) on shares of Comcast in a report on Friday, April 25th. Wells Fargo & Company lowered Comcast from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $37.00 to $31.00 in a report on Monday, April 14th. Finally, BNP Paribas downgraded Comcast from a “neutral” rating to an “underperform” rating and set a $31.00 price objective for the company. in a research note on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Comcast presently has an average rating of “Moderate Buy” and an average target price of $42.10.

Comcast Stock Performance

NASDAQ CMCSA opened at $34.70 on Friday. The company’s 50 day moving average is $34.39 and its 200-day moving average is $36.38. The firm has a market cap of $129.56 billion, a P/E ratio of 8.36, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. Comcast Co. has a 12-month low of $31.44 and a 12-month high of $45.31. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. The business had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $29.82 billion. Comcast had a return on equity of 19.98% and a net margin of 13.09%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 EPS. Sell-side analysts predict that Comcast Co. will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.80%. Comcast’s dividend payout ratio is currently 32.43%.

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.