Comcast (NASDAQ:CMCSA) Stock Price Down 1.1%

Comcast Co. (NASDAQ:CMCSA)’s stock price was down 1.1% during mid-day trading on Wednesday . The company traded as low as $36.75 and last traded at $36.90. Approximately 22,444,935 shares changed hands during trading, an increase of 31% from the average daily volume of 17,129,264 shares. The stock had previously closed at $37.31.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CMCSA shares. Macquarie dropped their target price on Comcast from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. Rosenblatt Securities reissued a “neutral” rating and set a $45.00 target price on shares of Comcast in a research note on Friday, April 26th. BNP Paribas cut Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target on the stock. in a report on Tuesday, June 11th. Oppenheimer reissued an “outperform” rating and issued a $55.00 price objective on shares of Comcast in a report on Wednesday, April 3rd. Finally, StockNews.com lowered Comcast from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $48.83.

Comcast Stock Up 2.6 %

The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $148.51 billion, a price-to-earnings ratio of 10.01, a price-to-earnings-growth ratio of 0.92 and a beta of 1.00. The business has a 50-day moving average price of $38.83 and a 200-day moving average price of $41.55.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, topping the consensus estimate of $0.98 by $0.06. The company had revenue of $30.06 billion during the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the company posted $0.92 earnings per share. As a group, equities analysts anticipate that Comcast Co. will post 4.21 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.24 annualized dividend and a yield of 3.28%. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

Insider Buying and Selling

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the completion of the sale, the insider now directly owns 2,000,000 shares in the company, valued at $6,380,000. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Comcast

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CMCSA. Norges Bank acquired a new position in shares of Comcast during the 4th quarter valued at about $2,542,988,000. Capital World Investors grew its holdings in Comcast by 17.0% during the fourth quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock valued at $4,725,926,000 after purchasing an additional 15,625,543 shares during the last quarter. Ontario Teachers Pension Plan Board raised its position in shares of Comcast by 25,881.7% in the first quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock valued at $470,391,000 after purchasing an additional 10,809,231 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Comcast by 41.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock worth $1,214,512,000 after buying an additional 8,243,302 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Comcast by 80.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock worth $457,007,000 after buying an additional 4,714,586 shares during the period. Institutional investors own 84.32% of the company’s stock.

About Comcast

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.