Somerset Trust Co Trims Stock Position in Comcast Co. (NASDAQ:CMCSA)

Somerset Trust Co decreased its holdings in Comcast Co. (NASDAQ:CMCSA) by 1.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 55,702 shares of the cable giant’s stock after selling 1,041 shares during the period. Somerset Trust Co’s holdings in Comcast were worth $2,327,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CMCSA. Steph & Co. raised its position in shares of Comcast by 154.6% in the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after buying an additional 371 shares during the period. Fairscale Capital LLC acquired a new position in shares of Comcast in the 2nd quarter valued at about $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Comcast during the 2nd quarter worth about $27,000. IAG Wealth Partners LLC increased its position in Comcast by 204.7% during the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after purchasing an additional 522 shares in the last quarter. Finally, Pineridge Advisors LLC purchased a new position in Comcast in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analysts Set New Price Targets

CMCSA has been the subject of several recent research reports. Seaport Res Ptn lowered shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 24th. Evercore ISI lowered their price target on Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Rosenblatt Securities restated a “neutral” rating and set a $45.00 price objective on shares of Comcast in a research note on Wednesday, July 24th. Barclays lowered their target price on Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Comcast has an average rating of “Hold” and an average target price of $45.55.

Comcast Trading Up 1.1 %

CMCSA opened at $41.40 on Thursday. The stock has a market capitalization of $162.44 billion, a PE ratio of 10.95, a P/E/G ratio of 1.08 and a beta of 1.01. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.11. The firm’s fifty day moving average price is $39.95 and its 200 day moving average price is $39.49.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. The business had revenue of $29.69 billion for the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.13 earnings per share. As a group, research analysts expect that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.00%. Comcast’s dividend payout ratio (DPR) is 32.80%.

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, sky-branded entertainment television networks, and advertising.