Comcast Co. (NASDAQ:CMCSA) Shares Sold by Rockland Trust Co.

Rockland Trust Co. lowered its stake in Comcast Co. (NASDAQ:CMCSA) by 24.5% during the third quarter, Holdings Channel.com reports. The fund owned 24,881 shares of the cable giant’s stock after selling 8,077 shares during the quarter. Rockland Trust Co.’s holdings in Comcast were worth $1,039,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Steph & Co. raised its stake in shares of Comcast by 154.6% in the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after acquiring an additional 371 shares during the period. Fairscale Capital LLC purchased a new stake in Comcast in the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC acquired a new position in Comcast during the second quarter worth $27,000. OLD Point Trust & Financial Services N A purchased a new position in shares of Comcast during the fourth quarter worth $28,000. Finally, 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 valued at $30,000 after buying an additional 522 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Price Performance

Shares of Comcast stock traded up $0.38 during trading on Friday, reaching $41.19. The company’s stock had a trading volume of 13,697,490 shares, compared to its average volume of 19,890,191. The stock has a 50-day moving average price of $39.94 and a two-hundred day moving average price of $39.56. The stock has a market capitalization of $161.61 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 1.08 and a beta of 1.01. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16. Comcast Co. has a one year low of $36.43 and a one year high of $47.11.

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

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.31 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 3.01%. Comcast’s payout ratio is 32.80%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Barclays reduced their price objective on Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Macquarie reissued a “neutral” rating and set a $40.00 target price on shares of Comcast in a research note on Wednesday, July 24th. StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. Finally, Evercore ISI cut their target price on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $45.58.

Comcast Company 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.