M&T Bank Corp Trims Position in Comcast Co. (NASDAQ:CMCSA)

M&T Bank Corp decreased its position in shares of Comcast Co. (NASDAQ:CMCSA) by 37.5% during the third quarter, Holdings Channel reports. The institutional investor owned 949,462 shares of the cable giant’s stock after selling 570,677 shares during the period. M&T Bank Corp’s holdings in Comcast were worth $39,659,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CMCSA. Fairscale Capital LLC purchased a new position in Comcast during the second quarter valued at $26,000. Strategic Financial Concepts LLC purchased a new position in shares of Comcast during the second quarter valued at about $27,000. IAG Wealth Partners LLC increased its holdings in shares of Comcast by 204.7% in the second 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 last quarter. McClarren Financial Advisors Inc. lifted its position 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 buying an additional 570 shares in the last quarter. Finally, Safe Harbor Fiduciary LLC bought a new position in Comcast during the third quarter valued at approximately $30,000. Institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CMCSA shares. Scotiabank raised Comcast from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $47.75 to $48.00 in a report on Friday, November 1st. Barclays upped their price target on shares of Comcast from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Pivotal Research lifted their price objective on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 4th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $45.00 price target on shares of Comcast in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Comcast currently has an average rating of “Moderate Buy” and a consensus target price of $47.19.

Insiders Place Their Bets

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

Comcast Stock Down 9.5 %

Shares of CMCSA opened at $39.05 on Tuesday. The firm has a market capitalization of $149.43 billion, a P/E ratio of 10.50, a P/E/G ratio of 1.63 and a beta of 0.99. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.11. The firm has a fifty day moving average price of $42.42 and a 200-day moving average price of $40.31. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 EPS. Equities research analysts expect that Comcast Co. will post 4.26 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s dividend payout ratio (DPR) is 33.33%.

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.