Somerset Trust Co lifted its holdings in Comcast Co. (NASDAQ:CMCSA) by 3.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,600 shares of the cable giant’s stock after purchasing an additional 1,573 shares during the period. Somerset Trust Co’s holdings in Comcast were worth $2,294,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of Comcast by 0.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 35,032 shares of the cable giant’s stock valued at $1,621,000 after purchasing an additional 230 shares in the last quarter. Trinity Legacy Partners LLC purchased a new position in Comcast in the third quarter worth approximately $3,068,000. Measured Wealth Private Client Group LLC lifted its stake in Comcast by 37.4% in the third quarter. Measured Wealth Private Client Group LLC now owns 12,068 shares of the cable giant’s stock worth $558,000 after acquiring an additional 3,285 shares during the last quarter. Raymond James Trust N.A. lifted its stake in Comcast by 2.5% in the third quarter. Raymond James Trust N.A. now owns 435,101 shares of the cable giant’s stock worth $20,128,000 after acquiring an additional 10,572 shares during the last quarter. Finally, Ridgewood Investments LLC lifted its stake in Comcast by 2.1% in the third quarter. Ridgewood Investments LLC now owns 17,365 shares of the cable giant’s stock worth $803,000 after acquiring an additional 363 shares during the last quarter. Hedge funds and other institutional investors own 82.80% of the company’s stock.
A number of research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Comcast from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday. Pivotal Research lifted their price target on shares of Comcast from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, September 16th. Citigroup lifted their price target on shares of Comcast from $49.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday. Sanford C. Bernstein upgraded shares of Comcast from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $48.00 to $52.00 in a research report on Wednesday, July 1st. Finally, BidaskClub downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 3rd. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Comcast presently has an average rating of “Buy” and a consensus price target of $50.18.
CMCSA traded up $0.45 during trading on Friday, hitting $45.56. The stock had a trading volume of 13,361,955 shares, compared to its average volume of 22,320,676. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market capitalization of $208.12 billion, a P/E ratio of 18.30, a PEG ratio of 1.91 and a beta of 0.93. The company’s 50-day moving average price is $45.21 and its 200 day moving average price is $41.02. Comcast Co. has a twelve month low of $31.70 and a twelve month high of $47.74.
Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 30th. The cable giant reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.14. Comcast had a net margin of 10.91% and a return on equity of 16.66%. The business had revenue of $23.72 billion for the quarter, compared to analysts’ expectations of $23.56 billion. During the same period in the prior year, the company posted $0.78 EPS. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. As a group, equities analysts expect that Comcast Co. will post 2.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be paid a dividend of $0.23 per share. The ex-dividend date is Tuesday, October 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.02%. Comcast’s dividend payout ratio (DPR) is presently 29.39%.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, wireless, and security and automation services to residential and business customers under the Xfinity brand; and advertising services.
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