Trust Point Inc. Acquires 1,203 Shares of Comcast Co. (NASDAQ:CMCSA)

Trust Point Inc. lifted its stake in Comcast Co. (NASDAQ:CMCSA) by 5.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,479 shares of the cable giant’s stock after purchasing an additional 1,203 shares during the period. Trust Point Inc.’s holdings in Comcast were worth $919,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CMCSA. Winch Advisory Services LLC raised its position in shares of Comcast by 269.9% during the 4th quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant’s stock valued at $26,000 after purchasing an additional 502 shares during the period. Safe Harbor Fiduciary LLC purchased a new position in shares of Comcast in the third quarter valued at about $30,000. McClarren Financial Advisors Inc. boosted its stake in shares of Comcast by 365.4% in the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after acquiring an additional 570 shares during the period. Iron Horse Wealth Management LLC grew its position in shares of Comcast by 220.3% during the third quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock worth $32,000 after purchasing an additional 522 shares in the last quarter. Finally, Dunhill Financial LLC raised its stake in Comcast by 54.8% during the 3rd quarter. Dunhill Financial LLC now owns 814 shares of the cable giant’s stock valued at $34,000 after purchasing an additional 288 shares during the period. 84.32% of the stock is owned by institutional investors.

Insider Transactions at Comcast

In related news, CEO Brian L. Roberts sold 234,464 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the transaction, the chief executive officer now owns 6,669,928 shares of the company’s stock, valued at $284,539,128.48. The trade was a 3.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Michael J. Cavanagh sold 25,537 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total value of $1,087,620.83. Following the sale, the president now directly owns 534,849 shares in the company, valued at $22,779,218.91. This trade represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Scotiabank lowered shares of Comcast from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $48.00 to $44.50 in a report on Monday. Benchmark reduced their price target on shares of Comcast from $57.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, January 31st. KeyCorp increased their price objective on shares of Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, November 1st. The Goldman Sachs Group reduced their target price on Comcast from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, TD Cowen dropped their price target on Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Ten equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.13.

Comcast Stock Up 1.1 %

Shares of NASDAQ CMCSA opened at $33.55 on Wednesday. The company has a market cap of $128.38 billion, a P/E ratio of 8.08, a PEG ratio of 1.23 and a beta of 1.00. The firm has a 50-day simple moving average of $38.41 and a two-hundred day simple moving average of $40.02. Comcast Co. has a 1 year low of $32.50 and a 1 year high of $45.38. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.72.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, January 30th. The cable giant reported $0.96 EPS for the quarter, beating the consensus estimate of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. Research analysts anticipate that Comcast Co. will post 4.4 earnings per share for the current year.

Comcast Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 2nd will be paid a $0.33 dividend. This is an increase from Comcast’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Wednesday, April 2nd. Comcast’s dividend payout ratio is currently 29.88%.

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.