Chemung Canal Trust Co. Has $1.14 Million Stock Position in Comcast Co. (NASDAQ:CMCSA)

Chemung Canal Trust Co. reduced its position in Comcast Co. (NASDAQ:CMCSA) by 76.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 26,396 shares of the cable giant’s stock after selling 84,447 shares during the period. Chemung Canal Trust Co.’s holdings in Comcast were worth $1,144,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CMCSA. Steph & Co. boosted its position in shares of Comcast by 154.6% in the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after purchasing an additional 371 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. boosted its position in shares of Comcast by 299.1% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock worth $28,000 after purchasing an additional 475,675 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in shares of Comcast in the 4th quarter worth $28,000. Pineridge Advisors LLC bought a new position in shares of Comcast in the 4th quarter worth $32,000. Finally, Financial Synergies Wealth Advisors Inc. boosted its position in shares of Comcast by 336.9% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock worth $33,000 after purchasing an additional 593 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 2,000,000 shares of the company’s stock, valued at $6,380,000. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CMCSA. Deutsche Bank Aktiengesellschaft reduced their target price on Comcast from $55.00 to $53.00 in a report on Friday, April 5th. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 target price on shares of Comcast in a report on Friday, April 26th. Benchmark reiterated a “buy” rating and set a $55.00 target price on shares of Comcast in a report on Monday, May 13th. Scotiabank reduced their target price on Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a report on Friday, April 26th. Finally, The Goldman Sachs Group began coverage on Comcast in a report on Tuesday, June 25th. They set a “buy” rating and a $44.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $48.62.

Comcast Price Performance

NASDAQ:CMCSA opened at $39.16 on Friday. The stock’s 50-day simple moving average is $38.71 and its 200 day simple moving average is $41.39. The company has a market cap of $153.65 billion, a P/E ratio of 10.36, a P/E/G ratio of 0.98 and a beta of 1.00. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.46.

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

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Wednesday, July 3rd. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

Comcast 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.