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

Chevy Chase Trust Holdings LLC reduced its position in Comcast Co. (NASDAQ:CMCSA) by 2.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,154,465 shares of the cable giant’s stock after selling 58,153 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Comcast worth $84,369,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CMCSA. Tennessee Valley Asset Management Partners purchased a new stake in Comcast during the 4th quarter valued at about $34,000. HTLF Bank purchased a new stake in Comcast during the 4th quarter valued at about $703,000. Zhang Financial LLC boosted its holdings in Comcast by 150.6% during the 4th quarter. Zhang Financial LLC now owns 24,418 shares of the cable giant’s stock valued at $1,071,000 after acquiring an additional 14,673 shares during the period. Resonant Capital Advisors LLC boosted its holdings in Comcast by 5.1% during the 4th quarter. Resonant Capital Advisors LLC now owns 21,132 shares of the cable giant’s stock valued at $927,000 after acquiring an additional 1,025 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its holdings in Comcast by 27.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 60,717 shares of the cable giant’s stock valued at $2,662,000 after acquiring an additional 13,090 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Performance

NASDAQ CMCSA traded down $0.23 on Tuesday, hitting $40.03. 13,551,956 shares of the company traded hands, compared to its average volume of 20,249,234. The company has a market capitalization of $157.06 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 1.07 and a beta of 1.00. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16. The business’s 50 day moving average price is $38.74 and its 200-day moving average price is $40.09. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.30.

Comcast (NASDAQ:CMCSA) last released its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. The company had revenue of $29.69 billion for the quarter, compared to the consensus estimate of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. Comcast’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.13 earnings per share. Equities analysts expect that Comcast Co. will post 4.23 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 3.10%. Comcast’s dividend payout ratio is presently 32.80%.

Insider Buying and Selling at Comcast

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

Analysts Set New Price Targets

Several research firms have weighed in on CMCSA. Scotiabank dropped their price objective on Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a report on Friday, April 26th. Benchmark reiterated a “buy” rating and issued a $55.00 price objective on shares of Comcast in a report on Monday, May 13th. Rosenblatt Securities reissued a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research report on Wednesday, July 24th. Barclays decreased their target price on Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $45.78.

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.