Huntington National Bank Trims Stock Position in Comcast Corporation $CMCSA

Huntington National Bank lessened its stake in Comcast Corporation (NASDAQ:CMCSA) by 18.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,492 shares of the cable giant’s stock after selling 44,663 shares during the period. Huntington National Bank’s holdings in Comcast were worth $6,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital A Wealth Management LLC grew its stake in Comcast by 173.7% during the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock worth $25,000 after buying an additional 436 shares during the last quarter. Avalon Trust Co boosted its holdings in shares of Comcast by 433.3% in the second quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock valued at $27,000 after acquiring an additional 624 shares during the period. Howard Hughes Medical Institute purchased a new position in shares of Comcast during the second quarter worth approximately $29,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Comcast during the second quarter worth approximately $31,000. Finally, Corsicana & Co. acquired a new position in shares of Comcast in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Performance

NASDAQ CMCSA opened at $30.96 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The business’s 50 day moving average is $29.86 and its two-hundred day moving average is $30.03. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $37.97. The stock has a market capitalization of $111.39 billion, a price-to-earnings ratio of 5.77, a PEG ratio of 2.41 and a beta of 0.81.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The business had revenue of $32.31 billion during the quarter, compared to analysts’ expectations of $32.35 billion. During the same period last year, the firm earned $0.96 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. Research analysts expect that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 1st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Wednesday, April 1st. Comcast’s payout ratio is presently 24.58%.

Insider Buying and Selling at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the transaction, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at $20,325,493.76. This represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comcast in a research note on Friday, January 9th. Benchmark reduced their target price on shares of Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a report on Monday, January 5th. Arete Research set a $23.00 target price on shares of Comcast in a research note on Tuesday, January 6th. Citigroup reissued a “buy” rating and set a $33.00 price target (up from $32.79) on shares of Comcast in a report on Friday, January 30th. Finally, BNP Paribas Exane cut Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 price target on the stock. in a research report on Tuesday. Ten equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $34.87.

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.