Comcast (NASDAQ:CMCSA) Price Target Cut to $47.00

Comcast (NASDAQ:CMCSA) had its price target decreased by Pivotal Research from $48.00 to $47.00 in a report issued on Wednesday, MarketBeat Ratings reports. Pivotal Research currently has a buy rating on the cable giant’s stock.

A number of other analysts have also recently commented on CMCSA. Seaport Res Ptn cut shares of Comcast from a strong-buy rating to a hold rating in a research note on Monday, June 24th. Wells Fargo & Company lowered their target price on shares of Comcast from $47.00 to $43.00 and set an equal weight rating for the company in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Oppenheimer reissued an outperform rating and set a $55.00 price target on shares of Comcast in a research report on Wednesday, April 3rd. Finally, Evercore ISI reduced their price target on shares of Comcast from $50.00 to $48.00 and set an outperform rating for the company in a research report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $46.96.

Comcast Stock Up 3.8 %

Shares of Comcast stock opened at $39.69 on Wednesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.59. Comcast has a 1 year low of $36.43 and a 1 year high of $47.46. The firm’s 50-day moving average is $38.53 and its two-hundred day moving average is $40.65. The stock has a market cap of $155.73 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 1.01 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share 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 business had revenue of $29.69 billion for the quarter, compared to analysts’ expectations of $30.02 billion. During the same period last year, the business earned $1.13 EPS. The company’s revenue was down 2.7% compared to the same quarter last year. As a group, research analysts expect that Comcast will post 4.26 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a dividend yield of 3.12%. Comcast’s payout ratio is 32.80%.

Insider Activity

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the business’s stock in a transaction dated 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 approximately $6,380,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.26% of the company’s stock.

Institutional Trading of Comcast

Institutional investors and hedge funds have recently bought and sold shares of the business. Luken Investment Analytics LLC increased its stake in Comcast by 258.0% during the first quarter. Luken Investment Analytics LLC now owns 580 shares of the cable giant’s stock worth $25,000 after purchasing an additional 418 shares during the period. Steph & Co. increased its stake in shares of Comcast by 154.6% during the first 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 purchased a new stake in shares of Comcast during the fourth quarter worth approximately $28,000. Pineridge Advisors LLC purchased a new stake in shares of Comcast during the fourth quarter worth approximately $32,000. Finally, Financial Synergies Wealth Advisors Inc. increased its stake in shares of Comcast by 336.9% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock worth $33,000 after buying an additional 593 shares during the period. 84.32% of the stock is currently owned by hedge funds and other 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.