Comcast Co. (NASDAQ:CMCSA) Shares Sold by Mechanics Bank Trust Department

Mechanics Bank Trust Department lowered its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 10.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,474 shares of the cable giant’s stock after selling 1,838 shares during the quarter. Mechanics Bank Trust Department’s holdings in Comcast were worth $714,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CMCSA. Steph & Co. grew its holdings in shares of Comcast by 154.6% during the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after purchasing an additional 371 shares during the period. Leith Wheeler Investment Counsel Ltd. grew its holdings in shares of Comcast by 299.1% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock worth $28,000 after purchasing an additional 475,675 shares during the period. OLD Point Trust & Financial Services N A purchased a new stake in shares of Comcast during the 4th quarter worth about $28,000. Pineridge Advisors LLC purchased a new stake in shares of Comcast during the 4th quarter worth about $32,000. Finally, Financial Synergies Wealth Advisors Inc. boosted its holdings in Comcast by 336.9% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock worth $33,000 after acquiring an additional 593 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Insider Activity

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 transaction of $10,134,384.37. Following the completion of the sale, the insider now directly owns 2,000,000 shares in the company, valued at approximately $6,380,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.26% of the stock is owned by corporate insiders.

Comcast Trading Down 0.2 %

NASDAQ:CMCSA opened at $38.40 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.59 and a quick ratio of 0.59. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.46. The stock’s 50-day moving average is $38.78 and its two-hundred day moving average is $41.46. The stock has a market cap of $150.67 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 0.96 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.06. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The company had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. During the same quarter in the previous year, the business posted $0.92 EPS. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities research analysts forecast that Comcast Co. will post 4.21 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.24 annualized dividend and a yield of 3.23%. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. The Goldman Sachs Group initiated coverage on Comcast in a report on Tuesday. They issued a “buy” rating and a $44.00 price target for the company. Wells Fargo & Company dropped their price target on Comcast from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Macquarie dropped their price target on Comcast from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. Evercore ISI reissued an “outperform” rating and set a $50.00 price target on shares of Comcast in a research report on Tuesday, March 26th. Finally, BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 target price on the stock. in a research report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $48.62.

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.