US Bancorp DE Trims Stake in Comcast Corporation $CMCSA

US Bancorp DE cut its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 9.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,045,589 shares of the cable giant’s stock after selling 217,899 shares during the period. US Bancorp DE’s holdings in Comcast were worth $64,273,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Capital A Wealth Management LLC raised its stake in shares of Comcast by 173.7% in the second 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 period. Avalon Trust Co raised its stake in Comcast by 433.3% during the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after acquiring an additional 624 shares during the period. Howard Hughes Medical Institute bought a new position in shares of Comcast in the second quarter worth approximately $29,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Comcast in the second quarter worth $31,000. Finally, Corsicana & Co. bought a new stake in shares of Comcast during the 3rd quarter valued at $32,000. Institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

Comcast stock opened at $30.86 on Friday. Comcast Corporation has a 52-week low of $25.75 and a 52-week high of $37.97. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The firm’s fifty day moving average is $29.84 and its 200 day moving average is $30.04. The company has a market cap of $111.03 billion, a price-to-earnings ratio of 5.75, a PEG ratio of 2.40 and a beta of 0.81.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The firm had revenue of $32.31 billion for the quarter, compared to the consensus estimate of $32.35 billion. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 EPS. Sell-side analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Oppenheimer set a $38.00 price target on Comcast in a report on Tuesday, November 4th. Williams Trading set a $40.00 price objective on shares of Comcast in a report on Friday, October 31st. Rosenblatt Securities reissued a “neutral” rating and issued a $30.00 target price on shares of Comcast in a report on Friday, January 30th. Evercore dropped their target price on shares of Comcast from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Finally, Benchmark reduced their price target on shares of Comcast from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Comcast presently has an average rating of “Hold” and an average target price of $34.87.

Insider Buying and Selling

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

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.