Comcast Corporation (NASDAQ:CMCSA) Shares Sold by WASHINGTON TRUST Co

by · The Cerbat Gem

WASHINGTON TRUST Co cut its stake in Comcast Corporation (NASDAQ:CMCSA – Free Report) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,955 shares of the cable giant’s stock after selling 5,339 shares during the period. WASHINGTON TRUST Co’s holdings in Comcast were worth $9,002,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Promus Capital LLC purchased a new stake in Comcast in the 4th quarter worth about $25,000. Inlight Wealth Management LLC acquired a new position in shares of Comcast in the first quarter worth $26,000. Retirement Wealth Solutions LLC raised its holdings in shares of Comcast by 126.9% during the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant’s stock worth $30,000 after acquiring an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in shares of Comcast during the 4th quarter worth about $33,000. Finally, Global Wealth Strategies & Associates increased its holdings in Comcast by 203.4% in the first quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant’s stock worth $33,000 after buying an additional 600 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company downgraded shares of Comcast from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $37.00 to $31.00 in a research note on Monday, April 14th. BNP Paribas downgraded Comcast from a “neutral” rating to an “underperform” rating and set a $31.00 price objective on the stock. in a report on Thursday, April 10th. Morgan Stanley set a $37.00 price objective on shares of Comcast in a report on Friday, April 25th. Rosenblatt Securities restated a “neutral” rating and issued a $36.00 target price on shares of Comcast in a research note on Monday, April 28th. Finally, Argus cut shares of Comcast from a “buy” rating to a “hold” rating in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.10.

View Our Latest Report on Comcast

Comcast Trading Up 0.3%

Shares of NASDAQ:CMCSA opened at $35.32 on Monday. The company’s 50-day moving average price is $34.61 and its two-hundred day moving average price is $35.58. Comcast Corporation has a one year low of $31.44 and a one year high of $45.31. The stock has a market capitalization of $131.87 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 1.71 and a beta of 0.95. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65.

Comcast (NASDAQ:CMCSA – Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.08. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The business had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $29.82 billion. During the same period in the previous year, the company posted $1.04 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.74%. Comcast’s dividend payout ratio (DPR) is presently 32.43%.

About Comcast

(Free Report)

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.

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