Plimoth Trust Co. LLC Cuts Holdings in Comcast Co. (NASDAQ:CMCSA)

Plimoth Trust Co. LLC lowered its stake in Comcast Co. (NASDAQ:CMCSA) by 1.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,719 shares of the cable giant’s stock after selling 611 shares during the period. Plimoth Trust Co. LLC’s holdings in Comcast were worth $2,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Saxon Interests Inc. increased its holdings in shares of Comcast by 8.9% in the 1st quarter. Saxon Interests Inc. now owns 13,375 shares of the cable giant’s stock valued at $580,000 after acquiring an additional 1,089 shares during the last quarter. Naviter Wealth LLC acquired a new stake in Comcast during the first quarter worth approximately $721,000. Measured Wealth Private Client Group LLC lifted its position in shares of Comcast by 6.4% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 11,426 shares of the cable giant’s stock worth $495,000 after buying an additional 689 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. boosted its holdings in shares of Comcast by 20.1% in the 1st quarter. Dixon Mitchell Investment Counsel Inc. now owns 669,393 shares of the cable giant’s stock valued at $29,018,000 after buying an additional 112,134 shares in the last quarter. Finally, MV Capital Management Inc. grew its position in shares of Comcast by 11.3% in the 1st quarter. MV Capital Management Inc. now owns 8,166 shares of the cable giant’s stock valued at $354,000 after buying an additional 827 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Corp Comcast sold 3,176,923 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total value of $10,134,384.37. Following the sale, the insider now directly owns 2,000,000 shares in the company, valued at $6,380,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Rosenblatt Securities restated a “neutral” rating and set a $45.00 price target on shares of Comcast in a research note on Friday, April 26th. Citigroup reduced their price objective on Comcast from $53.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, April 29th. StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Friday, March 22nd. Finally, Oppenheimer reiterated an “outperform” rating and set a $55.00 price target on shares of Comcast in a research note on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Comcast currently has an average rating of “Hold” and a consensus target price of $48.53.

Comcast Stock Performance

Shares of CMCSA opened at $38.16 on Wednesday. The company has a market capitalization of $149.73 billion, a PE ratio of 10.10, a P/E/G ratio of 0.98 and a beta of 1.00. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.46. The company has a 50-day simple moving average of $38.67 and a 200-day simple moving average of $41.32. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company posted $0.92 earnings per share. Equities research analysts predict that Comcast Co. will post 4.21 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Wednesday, July 3rd. Comcast’s dividend payout ratio (DPR) is 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.