Montecito Bank & Trust Buys New Shares in Comcast Co. (NASDAQ:CMCSA)

Montecito Bank & Trust purchased a new position in shares of Comcast Co. (NASDAQ:CMCSA) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,104 shares of the cable giant’s stock, valued at approximately $297,000.

A number of other institutional investors also recently bought and sold shares of CMCSA. US Financial Advisors LLC increased its position in shares of Comcast by 7.8% during the third quarter. US Financial Advisors LLC now owns 5,817 shares of the cable giant’s stock worth $243,000 after purchasing an additional 420 shares in the last quarter. Advisor Resource Council acquired a new position in Comcast in the 3rd quarter valued at about $611,000. Blake Schutter Theil Wealth Advisors LLC acquired a new position in Comcast in the 3rd quarter valued at about $726,000. Concurrent Investment Advisors LLC increased its position in Comcast by 8.5% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 58,871 shares of the cable giant’s stock valued at $2,459,000 after acquiring an additional 4,605 shares during the period. Finally, Maia Wealth LLC increased its position in Comcast by 38.4% in the 3rd quarter. Maia Wealth LLC now owns 9,577 shares of the cable giant’s stock valued at $399,000 after acquiring an additional 2,656 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $44.19 on Friday. The business’s 50 day simple moving average is $41.00 and its 200-day simple moving average is $39.66. The firm has a market capitalization of $171.13 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 1.61 and a beta of 1.00. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11.

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

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Wednesday, January 8th. Comcast’s payout ratio is currently 33.33%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CMCSA. Wells Fargo & Company boosted their price target on Comcast from $43.00 to $46.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. KeyCorp boosted their price target on Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Scotiabank upgraded Comcast from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $47.75 to $48.00 in a research report on Friday, November 1st. StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 target price on shares of Comcast in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Comcast presently has an average rating of “Moderate Buy” and a consensus target price of $46.75.

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.