Glenmede Trust Co. NA Cuts Position in Comcast Co. (NASDAQ:CMCSA)

Glenmede Trust Co. NA lessened its position in shares of Comcast Co. (NASDAQ:CMCSA) by 5.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,980,323 shares of the cable giant’s stock after selling 115,512 shares during the period. Glenmede Trust Co. NA’s holdings in Comcast were worth $82,718,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC boosted its position in shares of Comcast by 5.4% in the 3rd quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock valued at $4,904,647,000 after purchasing an additional 6,062,658 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Comcast by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 38,329,384 shares of the cable giant’s stock valued at $1,500,722,000 after acquiring an additional 1,000,626 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Comcast by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,871,235 shares of the cable giant’s stock worth $1,331,192,000 after acquiring an additional 416,759 shares during the last quarter. Ontario Teachers Pension Plan Board increased its holdings in shares of Comcast by 5.4% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 15,983,230 shares of the cable giant’s stock valued at $667,620,000 after acquiring an additional 822,936 shares during the period. Finally, First Pacific Advisors LP raised its position in Comcast by 2.1% in the 2nd quarter. First Pacific Advisors LP now owns 10,818,009 shares of the cable giant’s stock valued at $423,633,000 after purchasing an additional 219,894 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Stock Performance

NASDAQ:CMCSA opened at $42.64 on Wednesday. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11. The firm has a market cap of $163.16 billion, a PE ratio of 11.46, a P/E/G ratio of 1.63 and a beta of 1.00. The firm has a 50 day simple moving average of $42.13 and a 200-day simple moving average of $40.11. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, beating the consensus estimate of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The company had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. During the same quarter in the previous year, the business earned $1.08 EPS. The firm’s revenue was up 6.5% on a year-over-year basis. On average, equities analysts expect that Comcast Co. will post 4.26 EPS for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s payout ratio is currently 33.33%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Benchmark restated a “buy” rating and issued a $60.00 price target on shares of Comcast in a research report on Tuesday, November 19th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 price target on shares of Comcast in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, November 1st. KeyCorp lifted their target price on shares of Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Pivotal Research lifted their price objective on Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.19.

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.