Community Bank N.A. Reduces Position in Comcast Co. (NASDAQ:CMCSA)

Community Bank N.A. lowered its position in Comcast Co. (NASDAQ:CMCSAFree Report) by 20.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 24,184 shares of the cable giant’s stock after selling 6,188 shares during the period. Community Bank N.A.’s holdings in Comcast were worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Fairscale Capital LLC acquired a new position in Comcast in the 2nd quarter valued at about $26,000. Strategic Financial Concepts LLC purchased a new position in shares of Comcast in the 2nd quarter valued at approximately $27,000. IAG Wealth Partners LLC increased its holdings in shares of Comcast by 204.7% in the second 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. raised its stake in shares of 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 purchasing an additional 570 shares during the last quarter. Finally, Archer Investment Corp lifted its holdings in shares of Comcast by 177.1% during the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after purchasing an additional 519 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on CMCSA shares. Benchmark reissued a “buy” rating and issued a $60.00 price objective on shares of Comcast in a research note on Tuesday, November 19th. Pivotal Research increased their price target on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a report on Wednesday, November 6th. Scotiabank upgraded Comcast from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $47.75 to $48.00 in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.19.

Get Our Latest Research Report on CMCSA

Insider Buying and Selling

In related news, President Michael J. Cavanagh sold 25,537 shares of the company’s stock in a transaction 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 transaction, the president now directly owns 534,849 shares in the company, valued at approximately $22,779,218.91. This represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian L. Roberts sold 234,464 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total value of $10,002,234.24. Following the transaction, the chief executive officer now owns 6,669,928 shares in the company, valued at $284,539,128.48. This trade represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by company insiders.

Comcast Trading Up 0.2 %

NASDAQ:CMCSA opened at $43.29 on Tuesday. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. The stock has a fifty day simple moving average of $42.29 and a 200-day simple moving average of $40.18. The company has a market capitalization of $165.65 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00.

Comcast (NASDAQ:CMCSAGet Free Report) last announced its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, topping 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 company had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. During the same quarter in the previous year, the business posted $1.08 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts expect that Comcast Co. will post 4.26 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Wednesday, January 8th. Comcast’s payout ratio is currently 33.33%.

Comcast Profile

(Free Report)

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

Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Co. (NASDAQ:CMCSAFree Report).

Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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