Essex Savings Bank Lowers Stake in Comcast Corporation $CMCSA

Essex Savings Bank decreased its holdings in Comcast Corporation (NASDAQ:CMCSA) by 2.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,388 shares of the cable giant’s stock after selling 323 shares during the quarter. Essex Savings Bank’s holdings in Comcast were worth $513,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Advisor OS LLC grew its stake in Comcast by 33.2% in the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock valued at $1,308,000 after acquiring an additional 8,841 shares during the period. Resona Asset Management Co. Ltd. lifted its holdings in Comcast by 10.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant’s stock valued at $47,254,000 after purchasing an additional 118,839 shares in the last quarter. OMNI 360 Wealth Inc. acquired a new stake in shares of Comcast in the first quarter valued at about $335,000. DAVENPORT & Co LLC increased its stake in shares of Comcast by 41.7% during the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant’s stock worth $157,766,000 after purchasing an additional 1,261,278 shares in the last quarter. Finally, Kestra Investment Management LLC raised its position in shares of Comcast by 49.5% during the 1st quarter. Kestra Investment Management LLC now owns 71,331 shares of the cable giant’s stock worth $2,632,000 after purchasing an additional 23,607 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Trading Down 0.2%

Shares of CMCSA opened at $31.59 on Friday. Comcast Corporation has a 12-month low of $31.03 and a 12-month high of $45.31. The firm has a market capitalization of $116.64 billion, a P/E ratio of 5.22, a P/E/G ratio of 1.89 and a beta of 0.93. The firm has a 50-day moving average price of $33.45 and a 200 day moving average price of $34.48. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. The company had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. Comcast’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 EPS. Sell-side analysts forecast that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 4.2%. Comcast’s dividend payout ratio (DPR) is 21.82%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Sanford C. Bernstein cut their price objective on Comcast from $37.00 to $36.00 and set a “market perform” rating for the company in a research note on Wednesday, September 10th. Arete Research upgraded Comcast to a “hold” rating in a research report on Tuesday, July 8th. Moffett Nathanson raised their price objective on Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday, September 12th. Rothschild & Co Redburn dropped their target price on shares of Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Finally, Royal Bank Of Canada began coverage on shares of Comcast in a research note on Monday, September 8th. They issued a “sector perform” rating and a $38.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Comcast has an average rating of “Hold” and an average price target of $40.56.

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.