Comcast (NASDAQ:CMCSA) Trading Down 2.6%

Comcast Co. (NASDAQ:CMCSA) shares fell 2.6% during mid-day trading on Monday . The company traded as low as $38.86 and last traded at $39.04. 2,090,865 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 20,270,600 shares. The stock had previously closed at $40.08.

Wall Street Analyst Weigh In

CMCSA has been the topic of several recent analyst reports. Seaport Res Ptn cut shares of Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. Scotiabank decreased their price target on Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a research note on Friday, April 26th. Macquarie restated a “neutral” rating and set a $40.00 price objective on shares of Comcast in a research note on Wednesday. Citigroup decreased their target price on Comcast from $53.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Finally, Wells Fargo & Company reduced their price objective on Comcast from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.58.

Comcast Stock Performance

The company has a market cap of $149.45 billion, a P/E ratio of 10.08, a PEG ratio of 0.99 and a beta of 1.00. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13. The company has a 50 day moving average price of $38.55 and a 200-day moving average price of $40.71.

Comcast (NASDAQ:CMCSA) last announced its earnings results 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 12.64% and a return on equity of 20.10%. The firm had revenue of $29.69 billion during the quarter, compared to analyst estimates of $30.02 billion. During the same quarter in the prior year, the firm posted $1.13 EPS. Comcast’s revenue was down 2.7% compared to the same quarter last year. Equities analysts expect that Comcast Co. will post 4.21 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a yield of 3.26%. Comcast’s payout ratio is 32.80%.

Insider Buying and Selling at Comcast

In related news, major shareholder Corp Comcast sold 3,176,923 shares of Comcast stock in a transaction dated 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 directly owns 2,000,000 shares of the company’s stock, valued at $6,380,000. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Comcast

A number of large investors have recently added to or reduced their stakes in CMCSA. Luken Investment Analytics LLC boosted its position 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 during the period. Steph & Co. increased its position in shares of Comcast by 154.6% in the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after acquiring an additional 371 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in shares of Comcast during the fourth quarter valued at approximately $28,000. Pineridge Advisors LLC purchased a new stake in shares of Comcast in the 4th quarter valued at approximately $32,000. Finally, Financial Synergies Wealth Advisors Inc. boosted its stake in 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 period. 84.32% of the stock is currently owned by institutional investors.

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.