RB Capital Management LLC Reduces Holdings in Comcast Co. (NASDAQ:CMCSA)

RB Capital Management LLC reduced its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 5.4% in the third quarter, Holdings Channel reports. The institutional investor owned 9,011 shares of the cable giant’s stock after selling 510 shares during the period. RB Capital Management LLC’s holdings in Comcast were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CMCSA. Burke & Herbert Bank & Trust Co. raised its stake in Comcast by 42.1% during the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 23,013 shares of the cable giant’s stock worth $901,000 after acquiring an additional 6,821 shares during the period. Maia Wealth LLC purchased a new position in shares of Comcast during the 2nd quarter valued at $269,000. ORG Partners LLC boosted its holdings in Comcast by 1,114.9% in the 2nd quarter. ORG Partners LLC now owns 3,098 shares of the cable giant’s stock worth $118,000 after buying an additional 2,843 shares during the period. GPS Wealth Strategies Group LLC increased its stake in Comcast by 14.4% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 19,777 shares of the cable giant’s stock worth $774,000 after buying an additional 2,485 shares in the last quarter. Finally, Sky Investment Group LLC raised its holdings in Comcast by 1.3% during the second quarter. Sky Investment Group LLC now owns 76,446 shares of the cable giant’s stock valued at $2,994,000 after acquiring an additional 945 shares during the period. 84.32% of the stock is currently owned by institutional investors.

Comcast Trading Down 9.5 %

Shares of NASDAQ CMCSA opened at $39.05 on Tuesday. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. The business’s 50 day moving average is $42.42 and its two-hundred day moving average is $40.31. The stock has a market capitalization of $149.43 billion, a P/E ratio of 10.50, a PEG ratio of 1.63 and a beta of 0.99.

Comcast (NASDAQ:CMCSA) last released its 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. The firm 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%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS. As a group, research analysts expect that Comcast Co. will post 4.26 EPS for the current year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be issued a $0.31 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.18%. Comcast’s dividend payout ratio (DPR) is presently 33.33%.

Insider Buying and Selling

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 value of $1,087,620.83. Following the sale, the president now owns 534,849 shares in the company, valued at $22,779,218.91. This trade represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian L. Roberts sold 234,464 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the sale, the chief executive officer now directly owns 6,669,928 shares of the company’s stock, valued at $284,539,128.48. This represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Macquarie upped their price objective on Comcast from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. KeyCorp upped their price target on Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 4th. Finally, Benchmark reaffirmed a “buy” rating and set a $60.00 target price on shares of Comcast in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.19.

Comcast 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.