Reliance Trust Co. of Delaware trimmed its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 182,219 shares of the cable giant’s stock after selling 2,043 shares during the quarter. Comcast Corporation accounts for 1.1% of Reliance Trust Co. of Delaware’s portfolio, making the stock its 11th largest position. Reliance Trust Co. of Delaware’s holdings in Comcast Corporation were worth $7,092,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CMCSA. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Comcast Corporation by 100.0% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 2,680 shares of the cable giant’s stock worth $100,000 after acquiring an additional 1,340 shares during the period. Zions Bancorporation raised its holdings in shares of Comcast Corporation by 16.8% during the first quarter. Zions Bancorporation now owns 2,845 shares of the cable giant’s stock worth $106,000 after acquiring an additional 410 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Comcast Corporation during the first quarter worth $112,000. Founders Capital Management acquired a new stake in shares of Comcast Corporation during the first quarter worth $113,000. Finally, Pacific Center for Financial Services raised its holdings in shares of Comcast Corporation by 133.0% during the first quarter. Pacific Center for Financial Services now owns 3,132 shares of the cable giant’s stock worth $118,000 after acquiring an additional 1,788 shares during the period. 82.02% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on the stock. Moffett Nathanson lowered shares of Comcast Corporation from a “buy” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a report on Tuesday, June 20th. ValuEngine lowered shares of Comcast Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Robert W. Baird restated a “buy” rating and set a $43.00 price objective on shares of Comcast Corporation in a report on Friday, September 1st. UBS AG restated an “overweight” rating on shares of Comcast Corporation in a report on Thursday, August 24th. Finally, Guggenheim upgraded shares of Comcast Corporation from a “neutral” rating to a “buy” rating and lifted their price target for the company from $42.00 to $46.00 in a research note on Thursday, August 3rd. Two analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $45.83.
Shares of Comcast Corporation (CMCSA) opened at 37.60 on Friday. The company’s 50 day moving average is $40.07 and its 200 day moving average is $39.17. The company has a market cap of $177.22 billion, a P/E ratio of 18.94 and a beta of 1.01. Comcast Corporation has a one year low of $30.02 and a one year high of $42.18.
Comcast Corporation (NASDAQ:CMCSA) last announced its earnings results on Thursday, July 27th. The cable giant reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.04. The company had revenue of $21.17 billion during the quarter, compared to the consensus estimate of $20.85 billion. Comcast Corporation had a net margin of 11.45% and a return on equity of 16.80%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 earnings per share. On average, equities analysts predict that Comcast Corporation will post $2.04 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $0.63 annualized dividend and a dividend yield of 1.68%. Comcast Corporation’s dividend payout ratio is currently 31.74%.
In other news, SVP Daniel C. Murdock sold 3,659 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $39.61, for a total value of $144,932.99. Following the completion of the sale, the senior vice president now owns 725 shares in the company, valued at $28,717.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.28% of the company’s stock.
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Comcast Corporation Company Profile
Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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