Atlantic Union Bankshares Corp Reduces Holdings in Comcast Co. (NASDAQ:CMCSA)

Atlantic Union Bankshares Corp lowered its position in Comcast Co. (NASDAQ:CMCSA) by 8.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 33,175 shares of the cable giant’s stock after selling 3,261 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Comcast were worth $1,438,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Steph & Co. raised its stake in shares of Comcast by 154.6% during the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after purchasing an additional 371 shares during the period. Leith Wheeler Investment Counsel Ltd. increased its position in shares of Comcast by 299.1% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock valued at $28,000 after buying an additional 475,675 shares during the period. OLD Point Trust & Financial Services N A purchased a new stake in shares of Comcast in the fourth quarter worth about $28,000. Pineridge Advisors LLC bought a new position in shares of Comcast in the fourth quarter valued at approximately $32,000. Finally, Financial Synergies Wealth Advisors Inc. grew its stake in Comcast by 336.9% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock valued at $33,000 after acquiring an additional 593 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Price Performance

Shares of Comcast stock opened at $39.16 on Friday. The company’s fifty day simple moving average is $38.71 and its two-hundred day simple moving average is $41.39. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.46. The firm has a market cap of $153.65 billion, a PE ratio of 10.36, a price-to-earnings-growth ratio of 0.96 and a beta of 1.00. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping 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 period last year, the firm earned $0.92 earnings per share. Comcast’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, equities analysts expect that Comcast Co. will post 4.21 EPS for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 3rd will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $1.24 annualized dividend and a dividend yield of 3.17%. Comcast’s payout ratio is 32.80%.

Insider Buying and Selling

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total value of $10,134,384.37. Following the transaction, the insider now directly owns 2,000,000 shares in the company, valued at $6,380,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CMCSA shares. Macquarie lowered their target price on shares of Comcast from $43.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Comcast in a report on Wednesday, April 3rd. Wells Fargo & Company dropped their price target on Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Benchmark restated a “buy” rating and issued a $55.00 price objective on shares of Comcast in a research report on Monday, May 13th. Finally, Evercore ISI reiterated an “outperform” rating and set a $50.00 target price on shares of Comcast in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Comcast has a consensus rating of “Hold” and a consensus target price 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.