Comcast Co. (NASDAQ:CMCSA) Shares Sold by Fulton Bank N.A.

Posted by MarketBeat News on Mar 19th, 2023

Fulton Bank N.A. lowered its position in shares of Comcast Co. (NASDAQ:CMCSA – Get Rating) by 6.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,565 shares of the cable giant’s stock after selling 772 shares during the quarter. Fulton Bank N.A.’s holdings in Comcast were worth $369,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ironwood Wealth Management LLC. grew its holdings in shares of Comcast by 2.4% during the first quarter. Ironwood Wealth Management LLC. now owns 15,458 shares of the cable giant’s stock valued at $724,000 after purchasing an additional 363 shares during the last quarter. United Bank grew its holdings in shares of Comcast by 17.4% during the first quarter. United Bank now owns 37,271 shares of the cable giant’s stock valued at $1,745,000 after purchasing an additional 5,532 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Comcast by 29.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,063,697 shares of the cable giant’s stock valued at $190,261,000 after purchasing an additional 928,627 shares during the last quarter. Covestor Ltd grew its holdings in shares of Comcast by 104.4% during the first quarter. Covestor Ltd now owns 3,472 shares of the cable giant’s stock valued at $163,000 after purchasing an additional 1,773 shares during the last quarter. Finally, First Western Trust Bank bought a new position in shares of Comcast during the first quarter valued at approximately $482,000. Institutional investors and hedge funds own 82.23% of the company’s stock.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $36.03 on Friday. Comcast Co. has a one year low of $28.39 and a one year high of $48.42. The stock has a fifty day moving average of $38.18 and a 200-day moving average of $35.10. The company has a market capitalization of $151.90 billion, a PE ratio of 30.28, a price-to-earnings-growth ratio of 0.76 and a beta of 1.00. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.78 and a current ratio of 0.78.

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Comcast (NASDAQ:CMCSA – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The cable giant reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. The company had revenue of $30.55 billion during the quarter, compared to the consensus estimate of $30.36 billion. Comcast had a return on equity of 18.40% and a net margin of 4.42%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.77 EPS. As a group, equities analysts anticipate that Comcast Co. will post 3.67 EPS for the current fiscal year.

Comcast Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 26th. Stockholders of record on Wednesday, April 5th will be issued a $0.29 dividend. The ex-dividend date is Tuesday, April 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.22%. This is a positive change from Comcast’s previous quarterly dividend of $0.27. Comcast’s dividend payout ratio is presently 90.76%.

Insider Activity

In other news, major shareholder Corp Comcast sold 37,176 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $2.03, for a total value of $75,467.28. Following the completion of the sale, the insider now owns 19,507,693 shares in the company, valued at $39,600,616.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 7,527,791 shares of company stock worth $19,025,007 over the last quarter. Corporate insiders own 1.11% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on Comcast from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, January 27th. Barclays upped their target price on Comcast from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday, February 2nd. StockNews.com began coverage on Comcast in a report on Thursday. They set a “buy” rating for the company. KGI Securities lowered Comcast from an “outperform” rating to a “neutral” rating in a report on Wednesday, February 22nd. Finally, Cowen decreased their price objective on Comcast from $49.00 to $46.00 and set an “outperform” rating for the company in a report on Friday, January 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $44.29.

Comcast Profile

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Comcast Corp. engages in the provision of video, Internet, and phone services. It operates through the following segments: Cable Communications, Media, Studios, Theme Parks, and Sky. The Cable Communications segment consists of Comcast Cable, which is a provider of broadband, video, voice, wireless, and other services to residential customers in the United States under the Xfinity brand.