Factory Mutual Insurance Co. Cuts Stake in Comcast Co. (NASDAQ:CMCSA)

Factory Mutual Insurance Co. trimmed its stake in Comcast Co. (NASDAQ:CMCSA) by 1.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,046,200 shares of the cable giant’s stock after selling 12,000 shares during the quarter. Factory Mutual Insurance Co.’s holdings in Comcast were worth $43,700,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of CMCSA. Steph & Co. increased its position in Comcast by 154.6% during the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after purchasing an additional 371 shares in the last quarter. Fairscale Capital LLC purchased a new position in shares of Comcast in the 2nd quarter valued at $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Comcast during the 2nd quarter valued at $27,000. IAG Wealth Partners LLC boosted its position in Comcast by 204.7% during the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after purchasing an additional 522 shares during the period. Finally, Pineridge Advisors LLC acquired a new stake in Comcast in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

CMCSA has been the subject of several analyst reports. Pivotal Research decreased their target price on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Evercore ISI decreased their price target on Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft dropped their price objective 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. KeyCorp decreased their target price on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Finally, StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Comcast presently has an average rating of “Hold” and a consensus price target of $45.55.

Comcast Stock Performance

Shares of NASDAQ CMCSA traded up $0.16 during trading on Friday, reaching $41.26. The stock had a trading volume of 10,447,759 shares, compared to its average volume of 19,735,881. The stock has a market cap of $161.89 billion, a PE ratio of 10.92, a P/E/G ratio of 1.10 and a beta of 1.01. The firm’s 50 day moving average price is $39.99 and its two-hundred day moving average price is $39.48. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66. Comcast Co. has a one year low of $36.43 and a one year high of $47.11.

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

Comcast Announces Dividend

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