First American Bank Sells 8,860 Shares of Comcast Co. (NASDAQ:CMCSA)

First American Bank lessened its holdings in Comcast Co. (NASDAQ:CMCSA) by 7.5% in the fourth quarter, HoldingsChannel reports. The fund owned 109,641 shares of the cable giant’s stock after selling 8,860 shares during the period. First American Bank’s holdings in Comcast were worth $4,115,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB lifted its position in Comcast by 55,334.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 8,273,052 shares of the cable giant’s stock worth $345,565,000 after purchasing an additional 8,258,128 shares during the period. FMR LLC raised its position in shares of Comcast by 5.4% in the 3rd quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock valued at $4,904,647,000 after buying an additional 6,062,658 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Comcast by 530.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,429,298 shares of the cable giant’s stock worth $143,242,000 after acquiring an additional 2,885,370 shares during the period. National Bank of Canada FI boosted its position in shares of Comcast by 31.7% during the 3rd quarter. National Bank of Canada FI now owns 7,613,977 shares of the cable giant’s stock worth $318,036,000 after acquiring an additional 1,833,453 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Comcast by 6.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,364,136 shares of the cable giant’s stock valued at $1,268,310,000 after acquiring an additional 1,717,762 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CMCSA shares. BNP Paribas upgraded Comcast from an “underperform” rating to a “neutral” rating and set a $35.00 price target on the stock in a research note on Friday, January 31st. Bank of America downgraded Comcast from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $50.00 to $38.00 in a research note on Friday, January 31st. Sanford C. Bernstein set a $38.00 price target on shares of Comcast in a research note on Friday, January 31st. Seaport Res Ptn raised shares of Comcast from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, Barclays dropped their price objective on shares of Comcast from $42.00 to $37.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $43.83.

Comcast Price Performance

CMCSA stock opened at $35.39 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09. The company’s fifty day simple moving average is $36.37 and its 200 day simple moving average is $39.49. Comcast Co. has a 12-month low of $32.50 and a 12-month high of $45.31. The firm has a market cap of $133.81 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 1.78 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, January 30th. The cable giant reported $0.96 EPS for the quarter, beating the consensus estimate of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. On average, analysts expect that Comcast Co. will post 4.33 earnings per share for the current year.

Comcast Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 2nd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $1.32 annualized dividend and a dividend yield of 3.73%. This is a positive change from Comcast’s previous quarterly dividend of $0.31. Comcast’s payout ratio is currently 31.81%.

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.