Essex Savings Bank Sells 2,245 Shares of Comcast Co. (NASDAQ:CMCSA)

Essex Savings Bank cut its position in Comcast Co. (NASDAQ:CMCSA) by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,296 shares of the cable giant’s stock after selling 2,245 shares during the quarter. Essex Savings Bank’s holdings in Comcast were worth $686,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CMCSA. Fairscale Capital LLC acquired a new stake in Comcast in the second quarter valued at $26,000. McClarren Financial Advisors Inc. increased its stake in shares of Comcast by 365.4% in the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after buying an additional 570 shares during the period. Safe Harbor Fiduciary LLC bought a new position in shares of Comcast during the third quarter worth about $30,000. Iron Horse Wealth Management LLC lifted its stake in shares of Comcast by 220.3% in the third quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock worth $32,000 after acquiring an additional 522 shares during the period. Finally, Dunhill Financial LLC boosted its holdings in Comcast by 54.8% in the third quarter. Dunhill Financial LLC now owns 814 shares of the cable giant’s stock valued at $34,000 after acquiring an additional 288 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Insider Transactions at Comcast

In related news, President Michael J. Cavanagh sold 25,537 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the sale, the president now directly owns 534,849 shares in the company, valued at approximately $22,779,218.91. This represents a 4.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian L. Roberts sold 234,464 shares of Comcast stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now 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.

Comcast Stock Up 0.3 %

Shares of NASDAQ:CMCSA opened at $36.50 on Thursday. The stock has a market cap of $139.67 billion, a price-to-earnings ratio of 9.81, a PEG ratio of 1.50 and a beta of 1.01. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. Comcast Co. has a 12-month low of $36.15 and a 12-month high of $47.11. The business’s 50 day moving average is $40.44 and its 200 day moving average is $40.23.

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 the consensus estimate of $1.06 by $0.06. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The company had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. During the same quarter last year, the business posted $1.08 EPS. Comcast’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts forecast that Comcast Co. will post 4.26 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be given a dividend of $0.31 per share. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.40%. Comcast’s dividend payout ratio is presently 33.33%.

Wall Street Analyst Weigh In

CMCSA has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Seaport Res Ptn upgraded shares of Comcast from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 4th. TD Cowen dropped their price objective on Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, Pivotal Research raised their target price on Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.33.

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.