Chevy Chase Trust Holdings LLC Lowers Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Chevy Chase Trust Holdings LLC lessened its holdings in Comcast Co. (NASDAQ:CMCSA) by 3.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,088,343 shares of the cable giant’s stock after selling 66,122 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Comcast worth $87,230,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CMCSA. Fairscale Capital LLC bought a new position in shares of Comcast during the second quarter worth $26,000. McClarren Financial Advisors Inc. boosted its holdings in shares of Comcast by 365.4% during the 3rd 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 last quarter. Iron Horse Wealth Management LLC grew its position in shares of Comcast by 220.3% during the third quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock valued at $32,000 after purchasing an additional 522 shares in the last quarter. IAG Wealth Partners LLC increased its holdings in shares of Comcast by 204.7% in the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after purchasing an additional 522 shares during the last quarter. Finally, Archer Investment Corp lifted its position in shares of Comcast by 177.1% in the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after buying an additional 519 shares in the last quarter. 84.32% of the stock is owned by institutional investors.

Comcast Stock Up 1.5 %

Shares of CMCSA opened at $43.19 on Monday. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.11. The firm has a fifty day moving average price of $42.29 and a 200-day moving average price of $40.18. The firm has a market capitalization of $165.27 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.63 and a beta of 1.00. 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 posted its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.06. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The firm had revenue of $32.07 billion during the quarter, compared to the consensus estimate of $31.78 billion. During the same quarter in the previous year, the firm posted $1.08 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. Equities research analysts expect that Comcast Co. will post 4.26 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Wednesday, January 8th. Comcast’s payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CMCSA. TD Cowen reduced their price objective on Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. KeyCorp boosted their price target on shares of Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Barclays lifted their price objective on shares of Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Macquarie upped their target price on shares of Comcast from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Monday, November 18th. Finally, Benchmark reiterated a “buy” rating and issued a $60.00 price target on shares of Comcast in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Comcast has an average rating of “Moderate Buy” and an average price target of $47.19.

Insider Activity

In other Comcast news, President Michael J. Cavanagh sold 25,537 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the sale, the president now owns 534,849 shares of the company’s stock, valued at approximately $22,779,218.91. This trade represents a 4.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian L. Roberts sold 234,464 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was 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 directly owns 6,669,928 shares of the company’s stock, valued at approximately $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. Insiders own 1.26% of the company’s stock.

Comcast Company 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.