Horizon Bancorp Inc. IN Trims Stock Position in Comcast Co. (NASDAQ:CMCSA)

Horizon Bancorp Inc. IN decreased its holdings in Comcast Co. (NASDAQ:CMCSA) by 12.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,936 shares of the cable giant’s stock after selling 537 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in Comcast were worth $171,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Steph & Co. grew its stake in shares of Comcast by 154.6% during the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after acquiring an additional 371 shares during the period. Leith Wheeler Investment Counsel Ltd. increased its stake in shares of Comcast by 299.1% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock worth $28,000 after purchasing an additional 475,675 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new stake in shares of Comcast during the 4th quarter valued at $28,000. Pineridge Advisors LLC purchased a new position in shares of Comcast during the 4th quarter valued at $32,000. Finally, Financial Synergies Wealth Advisors Inc. increased its stake in Comcast by 336.9% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock worth $33,000 after buying an additional 593 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

NASDAQ CMCSA traded up $0.20 during trading hours on Thursday, reaching $38.05. The stock had a trading volume of 7,657,993 shares, compared to its average volume of 20,241,990. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.46. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market cap of $149.29 billion, a P/E ratio of 10.07, a price-to-earnings-growth ratio of 0.95 and a beta of 1.00. The stock has a fifty day moving average of $38.58 and a 200 day moving average of $41.26.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, beating the consensus estimate of $0.98 by $0.06. The company had revenue of $30.06 billion for the quarter, compared to analyst estimates of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 earnings per share. Sell-side analysts predict that Comcast Co. will post 4.22 earnings per share for the current year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be issued a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 3.26%. Comcast’s payout ratio is 32.80%.

Insiders Place Their Bets

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of Comcast in a report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 target price on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Benchmark reaffirmed a “buy” rating and set a $55.00 price target on shares of Comcast in a research note on Monday, May 13th. Evercore ISI cut their price target on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Macquarie decreased their price objective on shares of Comcast from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $48.53.

About Comcast

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.