Comcast Co. (NASDAQ:CMCSA) Shares Sold by Arden Trust Co

Arden Trust Co cut its position in Comcast Co. (NASDAQ:CMCSA) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,589 shares of the cable giant’s stock after selling 1,607 shares during the quarter. Arden Trust Co’s holdings in Comcast were worth $4,317,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Wealthspire Advisors LLC lifted its position in Comcast by 4.8% during the 4th quarter. Wealthspire Advisors LLC now owns 60,650 shares of the cable giant’s stock worth $2,659,000 after acquiring an additional 2,781 shares during the period. Everett Harris & Co. CA lifted its holdings in shares of Comcast by 7.7% in the 4th quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock valued at $73,993,000 after buying an additional 121,279 shares during the period. Desjardins Global Asset Management Inc. lifted its holdings in shares of Comcast by 1.5% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock valued at $4,438,000 after buying an additional 1,486 shares during the period. Brevan Howard Capital Management LP acquired a new stake in shares of Comcast in the 4th quarter valued at approximately $2,056,000. Finally, Axxcess Wealth Management LLC lifted its holdings in shares of Comcast by 10.5% in the 4th quarter. Axxcess Wealth Management LLC now owns 115,503 shares of the cable giant’s stock valued at $5,065,000 after buying an additional 10,936 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Trading Down 1.1 %

Shares of NASDAQ:CMCSA traded down $0.41 during midday trading on Tuesday, reaching $36.90. The company’s stock had a trading volume of 22,440,889 shares, compared to its average volume of 20,307,139. The firm has a market cap of $144.78 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 0.94 and a beta of 1.00. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13. Comcast Co. has a 1 year low of $36.43 and a 1 year high of $47.46. The business has a 50 day moving average price of $38.93 and a 200 day moving average price of $41.61.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The firm had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. During the same quarter last year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. Research analysts forecast that Comcast Co. will post 4.21 EPS for the current year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Wednesday, July 3rd. Comcast’s payout ratio is currently 32.80%.

Analysts Set New Price Targets

Several research firms have recently commented on CMCSA. Benchmark reissued a “buy” rating and issued a $55.00 price target on shares of Comcast in a report on Monday, May 13th. Wells Fargo & Company reduced their price target on Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 22nd. Macquarie dropped their price objective on Comcast from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Comcast in a research note on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $48.83.

Insiders Place Their Bets

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the transaction, the insider now owns 2,000,000 shares in the company, valued at $6,380,000. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.26% of the stock is currently owned by insiders.

Comcast Profile

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.