Independence Bank of Kentucky Has $247,000 Stake in Comcast Co. (NASDAQ:CMCSA)

Independence Bank of Kentucky cut its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 50.1% during the 2nd quarter, Holdings Channel reports. The firm owned 6,308 shares of the cable giant’s stock after selling 6,345 shares during the period. Independence Bank of Kentucky’s holdings in Comcast were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Luken Investment Analytics LLC boosted its stake in shares of Comcast by 258.0% in the 1st quarter. Luken Investment Analytics LLC now owns 580 shares of the cable giant’s stock valued at $25,000 after purchasing an additional 418 shares in the last quarter. Steph & Co. boosted its position in Comcast by 154.6% during the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after buying an additional 371 shares during the period. OLD Point Trust & Financial Services N A bought a new position in shares of Comcast during the fourth quarter valued at $28,000. IAG Wealth Partners LLC grew its stake in shares of Comcast by 204.7% in the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after purchasing an additional 522 shares during the last quarter. Finally, Pineridge Advisors LLC acquired a new stake in Comcast in the fourth quarter valued at $32,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. KeyCorp reduced their price target on Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Seaport Res Ptn cut Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Evercore ISI lowered their target price on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, The Goldman Sachs Group assumed coverage on Comcast in a report on Tuesday, June 25th. They set a “buy” rating and a $44.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.78.

Comcast Stock Performance

Shares of CMCSA stock opened at $39.82 on Monday. The stock has a market capitalization of $156.24 billion, a P/E ratio of 10.53, a PEG ratio of 1.07 and a beta of 1.00. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16. The firm’s 50 day moving average is $38.90 and its 200 day moving average is $39.97. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.30.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. The company had revenue of $29.69 billion for the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. Comcast’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.13 EPS. On average, sell-side analysts anticipate that Comcast Co. will post 4.23 earnings per share for the current year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s payout ratio is 32.80%.

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.