Comcast Corporation $CMCSA is Wilmington Savings Fund Society FSB’s Largest Position

Wilmington Savings Fund Society FSB lessened its stake in Comcast Corporation (NASDAQ:CMCSA) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,188,501 shares of the cable giant’s stock after selling 66,095 shares during the period. Comcast comprises approximately 5.9% of Wilmington Savings Fund Society FSB’s investment portfolio, making the stock its largest holding. Wilmington Savings Fund Society FSB owned 0.22% of Comcast worth $257,283,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Capital A Wealth Management LLC grew its position in Comcast by 173.7% during the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after buying an additional 436 shares during the period. Imprint Wealth LLC acquired a new position in shares of Comcast in the third quarter worth about $26,000. United Financial Planning Group LLC acquired a new position in shares of Comcast in the third quarter worth about $28,000. Howard Hughes Medical Institute purchased a new stake in shares of Comcast during the 2nd quarter worth about $29,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Comcast during the 2nd quarter worth about $31,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Comcast

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following the completion of the transaction, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. This represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CMCSA. Wall Street Zen upgraded Comcast to a “hold” rating in a research note on Saturday. BNP Paribas Exane lowered Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 price objective on the stock. in a report on Tuesday, February 24th. Daiwa Securities Group cut their price objective on Comcast from $38.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, November 18th. Scotiabank cut their price objective on Comcast from $37.50 to $35.25 and set a “sector perform” rating for the company in a research report on Friday, January 30th. Finally, Barclays set a $28.00 target price on Comcast and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Ten analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Comcast presently has an average rating of “Hold” and an average price target of $34.87.

Comcast Stock Down 0.9%

CMCSA opened at $30.08 on Wednesday. The company has a market cap of $108.22 billion, a PE ratio of 5.60, a price-to-earnings-growth ratio of 2.37 and a beta of 0.79. Comcast Corporation has a twelve month low of $25.75 and a twelve month high of $37.72. The company has a 50-day moving average price of $30.23 and a 200 day moving average price of $29.77. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, topping 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 company had revenue of $32.31 billion for the quarter, compared to analysts’ expectations of $32.35 billion. During the same period in the previous year, the firm posted $0.96 EPS. Comcast’s revenue was up 1.2% compared to the same quarter last year. Sell-side analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.4%. Comcast’s payout ratio is currently 24.58%.

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.