Glenmede Trust Co. NA Sells 115,512 Shares of Comcast Co. (NASDAQ:CMCSA)

Glenmede Trust Co. NA decreased its holdings in Comcast Co. (NASDAQ:CMCSA) by 5.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,980,323 shares of the cable giant’s stock after selling 115,512 shares during the quarter. Glenmede Trust Co. NA owned 0.05% of Comcast worth $82,718,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CMCSA. Fairscale Capital LLC bought a new position in shares of Comcast in the second quarter worth about $26,000. Strategic Financial Concepts LLC bought a new stake in Comcast in the 2nd quarter valued at $27,000. IAG Wealth Partners LLC lifted its stake in Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after purchasing an additional 522 shares in the last quarter. McClarren Financial Advisors Inc. boosted its holdings 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 purchasing an additional 570 shares during the last quarter. Finally, Archer Investment Corp grew its position in shares of 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 purchasing an additional 519 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CMCSA. StockNews.com upgraded shares of Comcast from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Pivotal Research boosted their price objective on shares of Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, November 1st. KeyCorp lifted their price target on shares of Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Rosenblatt Securities reissued a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a research note on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.19.

Comcast Price Performance

Shares of CMCSA opened at $42.64 on Wednesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. The company’s fifty day moving average price is $42.13 and its 200-day moving average price is $40.11. The firm has a market capitalization of $163.16 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11.

Comcast (NASDAQ:CMCSA) last issued its 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. The firm had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.08 earnings per share. On average, equities research analysts predict that Comcast Co. will post 4.26 EPS for the current year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be given a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 annualized dividend and a dividend yield of 2.91%. Comcast’s dividend payout ratio (DPR) is 33.33%.

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.