Canandaigua National Bank & Trust Co. Sells 3,256 Shares of Comcast Co. (NASDAQ:CMCSA)

Canandaigua National Bank & Trust Co. decreased its position in shares of Comcast Co. (NASDAQ:CMCSA) by 2.4% during the second quarter, HoldingsChannel reports. The fund owned 130,550 shares of the cable giant’s stock after selling 3,256 shares during the quarter. Comcast accounts for approximately 0.9% of Canandaigua National Bank & Trust Co.’s investment portfolio, making the stock its 26th largest holding. Canandaigua National Bank & Trust Co.’s holdings in Comcast were worth $5,424,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its holdings in Comcast by 5.1% during the 1st quarter. FMR LLC now owns 117,764,529 shares of the cable giant’s stock valued at $4,464,453,000 after acquiring an additional 5,767,151 shares during the period. Morgan Stanley boosted its stake in shares of Comcast by 15.2% during the fourth quarter. Morgan Stanley now owns 53,653,778 shares of the cable giant’s stock valued at $1,876,273,000 after purchasing an additional 7,084,451 shares during the period. Norges Bank bought a new position in shares of Comcast in the fourth quarter worth about $1,798,173,000. Bank of New York Mellon Corp increased its stake in Comcast by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 42,448,741 shares of the cable giant’s stock worth $1,245,022,000 after buying an additional 189,845 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in Comcast by 1.1% during the 1st quarter. Clearbridge Investments LLC now owns 42,441,142 shares of the cable giant’s stock valued at $1,987,094,000 after buying an additional 473,150 shares in the last quarter. Institutional investors own 82.85% of the company’s stock.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $45.30 on Thursday. Comcast Co. has a fifty-two week low of $28.39 and a fifty-two week high of $47.46. The company has a market cap of $186.87 billion, a PE ratio of 28.60, a P/E/G ratio of 1.24 and a beta of 0.99. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.76 and a current ratio of 0.76. The business has a 50-day simple moving average of $44.59 and a two-hundred day simple moving average of $40.88.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, July 27th. The cable giant reported $1.13 EPS for the quarter, beating the consensus estimate of $0.98 by $0.15. The firm had revenue of $30.51 billion during the quarter, compared to analyst estimates of $30.11 billion. Comcast had a net margin of 5.40% and a return on equity of 19.79%. Comcast’s revenue was up 1.7% on a year-over-year basis. During the same period last year, the firm posted $1.01 EPS. As a group, equities analysts expect that Comcast Co. will post 3.81 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Tuesday, October 3rd. Comcast’s dividend payout ratio (DPR) is presently 73.42%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. KeyCorp raised their target price on shares of Comcast from $46.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Wells Fargo & Company lifted their target price on Comcast from $46.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, July 28th. Citigroup increased their price target on Comcast from $47.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Argus lifted their price objective on Comcast from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Finally, Barclays increased their target price on shares of Comcast from $42.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, July 31st. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.88.

About Comcast

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, advertising sales, and Sky channels.