Citizens Business Bank Sells 1,167 Shares of Comcast Co. (NASDAQ:CMCSA)

Citizens Business Bank decreased its stake in Comcast Co. (NASDAQ:CMCSA) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,269 shares of the cable giant’s stock after selling 1,167 shares during the period. Citizens Business Bank’s holdings in Comcast were worth $2,726,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Fairscale Capital LLC bought a new position in Comcast during the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Comcast in the 2nd quarter valued at $27,000. IAG Wealth Partners LLC grew its holdings in shares of Comcast by 204.7% during the 2nd 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 last quarter. McClarren Financial Advisors Inc. raised its position in Comcast by 365.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after purchasing an additional 570 shares during the period. Finally, Safe Harbor Fiduciary LLC bought a new stake in Comcast in the third quarter worth $30,000. 84.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

CMCSA has been the subject of several recent research reports. Pivotal Research boosted their price objective on Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Macquarie upped their price target on shares of Comcast from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, November 18th. StockNews.com lowered shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 4th. Evercore ISI raised shares of Comcast to a “strong-buy” rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company raised their target price on Comcast from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.19.

Comcast Stock Up 1.2 %

Shares of Comcast stock opened at $39.53 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.11. The company has a market cap of $151.26 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 1.63 and a beta of 0.99. The company’s 50 day moving average is $42.42 and its 200 day moving average is $40.31.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The company had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. During the same quarter in the prior year, the company earned $1.08 earnings per share. Comcast’s revenue was up 6.5% on a year-over-year basis. Research analysts anticipate that Comcast Co. will post 4.26 EPS for the current year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 annualized dividend and a yield of 3.14%. Comcast’s dividend payout ratio (DPR) is presently 33.33%.

Insider Buying and Selling at Comcast

In related news, President Michael J. Cavanagh sold 25,537 shares of Comcast stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the transaction, the president now owns 534,849 shares in the company, valued at approximately $22,779,218.91. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian L. Roberts sold 234,464 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the transaction, the chief executive officer now owns 6,669,928 shares in the company, valued at $284,539,128.48. The trade was a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by corporate 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.