Ipswich Investment Management Co. Inc. Reduces Holdings in Comcast Co. (NASDAQ:CMCSA)

Ipswich Investment Management Co. Inc. decreased its holdings in Comcast Co. (NASDAQ:CMCSA) by 18.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,480 shares of the cable giant’s stock after selling 1,200 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Comcast were worth $229,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. Fairscale Capital LLC purchased a new stake in shares of Comcast in the 2nd quarter worth approximately $26,000. McClarren Financial Advisors Inc. lifted its holdings in Comcast by 365.4% during the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after buying an additional 570 shares during the period. Iron Horse Wealth Management LLC boosted its position in Comcast by 220.3% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock valued at $32,000 after acquiring an additional 522 shares in the last quarter. IAG Wealth Partners LLC increased its holdings in shares of Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 522 shares during the period. Finally, Archer Investment Corp raised its position in shares of Comcast by 177.1% in the 2nd quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after acquiring an additional 519 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Trading Down 1.4 %

CMCSA stock opened at $42.88 on Friday. Comcast Co. has a 52-week low of $36.43 and a 52-week high of $47.11. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. The firm has a market cap of $164.08 billion, a P/E ratio of 11.53, a PEG ratio of 1.66 and a beta of 1.00. The company’s 50-day simple moving average is $41.61 and its 200-day simple moving average is $39.87.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. The company had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. Comcast had a return on equity of 19.81% and a net margin of 11.92%. Comcast’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.08 earnings per share. As a group, equities analysts forecast that Comcast Co. will post 4.25 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s payout ratio is presently 33.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CMCSA shares. TD Cowen cut their target price on Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Wells Fargo & Company boosted their price objective on shares of Comcast from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Barclays raised their target price on shares of Comcast from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 price target on shares of Comcast in a research report on Wednesday, November 6th. Finally, Benchmark reissued a “buy” rating and issued a $55.00 price target on shares of Comcast in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Comcast has an average rating of “Moderate Buy” and a consensus target price of $46.75.

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.