Summit Asset Management LLC Sells 267 Shares of Comcast Co. (NASDAQ:CMCSA)

Summit Asset Management LLC cut its stake in Comcast Co. (NASDAQ:CMCSA) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,053 shares of the cable giant’s stock after selling 267 shares during the period. Summit Asset Management LLC’s holdings in Comcast were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Fairscale Capital LLC acquired a new stake in shares of Comcast during the 2nd quarter worth approximately $26,000. Strategic Financial Concepts LLC acquired a new position in Comcast during the second quarter valued at approximately $27,000. IAG Wealth Partners LLC grew its holdings in Comcast by 204.7% during the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 522 shares during the period. McClarren Financial Advisors Inc. grew its holdings in Comcast by 365.4% during the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 570 shares during the period. Finally, Archer Investment Corp grew its holdings in Comcast by 177.1% during the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock valued at $32,000 after purchasing an additional 519 shares during the period. 84.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CMCSA shares. KeyCorp boosted their price objective on shares of Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Pivotal Research lifted their price target on shares of Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Scotiabank raised shares of Comcast from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $47.75 to $48.00 in a research note on Friday, November 1st. Finally, Barclays lifted their price target on shares of Comcast from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.75.

Comcast Stock Down 0.3 %

CMCSA stock opened at $43.91 on Thursday. The firm has a 50-day moving average price of $41.36 and a 200-day moving average price of $39.79. The stock has a market capitalization of $168.02 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 1.67 and a beta of 1.00. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business earned $1.08 EPS. As a group, equities research analysts anticipate that Comcast Co. will post 4.25 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be issued a $0.31 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a yield of 2.82%. Comcast’s dividend payout ratio (DPR) is presently 33.33%.

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.