Canandaigua National Trust Co of Florida Acquires 26,001 Shares of Comcast Corporation $CMCSA

Canandaigua National Trust Co of Florida bought a new position in shares of Comcast Corporation (NASDAQ:CMCSA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,001 shares of the cable giant’s stock, valued at approximately $566,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank & Trust Co lifted its position in Comcast by 401.2% during the 3rd quarter. Bank & Trust Co now owns 29,049 shares of the cable giant’s stock worth $632,000 after buying an additional 23,253 shares in the last quarter. MRA Advisory Group grew its holdings in Comcast by 51.1% during the 3rd quarter. MRA Advisory Group now owns 15,376 shares of the cable giant’s stock worth $335,000 after acquiring an additional 5,202 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in Comcast by 685.7% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 8,391 shares of the cable giant’s stock valued at $195,000 after acquiring an additional 7,323 shares in the last quarter. Park National Corp OH raised its stake in shares of Comcast by 23.6% in the third quarter. Park National Corp OH now owns 19,445 shares of the cable giant’s stock worth $423,000 after acquiring an additional 3,717 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Comcast by 12.3% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 68,822 shares of the cable giant’s stock worth $1,517,000 after acquiring an additional 7,562 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Trading Down 2.9%

Shares of CMCSA traded down $0.62 on Wednesday, reaching $20.94. 30,068,672 shares of the company’s stock were exchanged, compared to its average volume of 32,774,625. The business has a 50 day moving average price of $24.70 and a two-hundred day moving average price of $25.25. Comcast Corporation has a 12 month low of $20.88 and a 12 month high of $32.85. The stock has a market capitalization of $74.31 billion, a P/E ratio of 6.78, a price-to-earnings-growth ratio of 1.55 and a beta of 0.68. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. The firm had revenue of $29.94 billion for the quarter, compared to analysts’ expectations of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. Research analysts anticipate that Comcast Corporation will post 3.49 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.3%. Comcast’s payout ratio is 42.72%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CMCSA shares. Wells Fargo & Company set a $23.00 price target on shares of Comcast and gave the company an “underweight” rating in a research note on Friday, July 24th. Weiss Ratings cut shares of Comcast from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Morgan Stanley reduced their price objective on Comcast from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, September 25th. Deutsche Bank Aktiengesellschaft upgraded Comcast from a “hold” rating to a “buy” rating and decreased their price objective for the company from $34.00 to $32.00 in a research report on Tuesday, June 30th. Finally, Freedom Capital raised Comcast to a “hold” rating in a research note on Friday, June 12th. Eleven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.00.

Comcast News Roundup

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Comcast plans to distribute approximately $1.17 billion to shareholders on October 28, reinforcing its appeal to income-focused investors. Recent analysis places the dividend yield at roughly 6.12%, which could help support the shares while investors await the separation. Comcast Sends $1.17 Billion to Shareholders on October 28
• Positive Sentiment: Valuation-focused coverage highlights Comcast’s shares trading below book value while the company generates substantial free cash flow. Analysts argue that separating the connectivity and media operations could improve strategic focus and eventually lead to a valuation re-rating closer to industry peers. What is Comcast’s Economic Moat, and Is It Widening or Narrowing?
• Neutral Sentiment: The next quarterly earnings report is a key near-term catalyst. Expectations call for improved average revenue per user and adjusted EBITDA in connectivity, but potentially softer sequential results in media and entertainment. Comcast’s latest reported quarter beat earnings and revenue estimates, although revenue declined year over year. Comcast Earnings Preview: What to Expect
• Negative Sentiment: The planned spin-off introduces execution, balance-sheet and operational uncertainty before any potential benefits are realized. Analysts also cite ongoing convergence headwinds and Comcast’s roughly 25% twelve-month decline as evidence that investors remain concerned about the company’s growth outlook. Comcast: Separation Noise and Convergence Headwinds Trigger Inflation-Beating Dividend Yields

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a global media and communications company headquartered in Philadelphia, Pennsylvania. Its businesses include broadband internet, wireless services, video, voice, and business connectivity services, primarily marketed under the Xfinity brand in the United States. Comcast also provides advertising and related technology services to businesses and media organizations.

Through NBCUniversal, Comcast operates national and local television networks, broadcast network NBC, Spanish-language network Telemundo, the Peacock streaming service, and a portfolio of film and television production businesses.