FineMark National Bank & Trust Sells 21,342 Shares of Comcast Co. (NASDAQ:CMCSA)

FineMark National Bank & Trust cut its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 34.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,329 shares of the cable giant’s stock after selling 21,342 shares during the quarter. FineMark National Bank & Trust’s holdings in Comcast were worth $1,579,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CMCSA. Bollard Group LLC raised its stake in shares of Comcast by 0.7% during the fourth quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock valued at $1,622,000 after acquiring an additional 244 shares during the last quarter. Tortoise Investment Management LLC raised its position in Comcast by 4.5% during the 4th quarter. Tortoise Investment Management LLC now owns 5,801 shares of the cable giant’s stock worth $254,000 after purchasing an additional 249 shares during the last quarter. Verum Partners LLC grew its position in shares of Comcast by 4.9% in the 2nd quarter. Verum Partners LLC now owns 5,663 shares of the cable giant’s stock valued at $222,000 after buying an additional 267 shares during the last quarter. L.M. Kohn & Company increased its stake in shares of Comcast by 3.5% in the fourth quarter. L.M. Kohn & Company now owns 7,996 shares of the cable giant’s stock valued at $351,000 after buying an additional 270 shares during the period. Finally, Mcdonald Partners LLC raised its position in shares of Comcast by 1.4% during the first quarter. Mcdonald Partners LLC now owns 19,591 shares of the cable giant’s stock worth $849,000 after acquiring an additional 270 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Price Performance

Shares of CMCSA opened at $39.80 on Friday. The stock has a market cap of $156.16 billion, a P/E ratio of 10.53, a P/E/G ratio of 1.05 and a beta of 1.00. The business’s fifty day moving average is $39.23 and its 200 day moving average is $39.86. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.11.

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

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Barclays decreased their target price on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. The Goldman Sachs Group started coverage on shares of Comcast in a research note on Tuesday, June 25th. They set a “buy” rating and a $44.00 target price for the company. Evercore ISI cut their price target on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 price target on shares of Comcast in a report on Wednesday, July 24th. Finally, Seaport Res Ptn downgraded Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Comcast has a consensus rating of “Hold” and a consensus target price of $45.78.

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.