Comcast Co. (NASDAQ:CMCSA) Stock Position Reduced by Country Club Bank

Country Club Bank reduced its position in shares of Comcast Co. (NASDAQ:CMCSA) by 17.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,870 shares of the cable giant’s stock after selling 4,417 shares during the period. Country Club Bank’s holdings in Comcast were worth $799,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Comcast during the 4th quarter worth approximately $2,542,988,000. Capital World Investors grew its stake in Comcast by 17.0% during the 4th quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock worth $4,725,926,000 after buying an additional 15,625,543 shares during the last quarter. Ontario Teachers Pension Plan Board increased its position in Comcast by 25,881.7% in the first quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock worth $470,391,000 after buying an additional 10,809,231 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Comcast by 41.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock valued at $1,214,512,000 after buying an additional 8,243,302 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Comcast by 80.9% during the first quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock valued at $457,007,000 after acquiring an additional 4,714,586 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CMCSA shares. Pivotal Research reduced their price objective on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Scotiabank reduced their price target on Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a research report on Friday, April 26th. BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target on the stock. in a report on Tuesday, June 11th. Benchmark restated a “buy” rating and set a $55.00 price objective on shares of Comcast in a research note on Monday, May 13th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $45.78.

Insiders Place Their Bets

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the company’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.26% of the company’s stock.

Comcast Price Performance

Shares of NASDAQ CMCSA traded up $0.51 during mid-day trading on Thursday, reaching $39.52. The company had a trading volume of 16,975,822 shares, compared to its average volume of 20,372,986. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.46. The stock has a market cap of $155.06 billion, a PE ratio of 10.32, a P/E/G 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 company has a 50-day moving average price of $38.69 and a two-hundred day moving average price of $40.28.

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

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s dividend payout ratio is 32.80%.

Comcast 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.