Comcast Co. (NASDAQ:CMCSA) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky lowered its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 20.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,653 shares of the cable giant’s stock after selling 3,193 shares during the period. Independence Bank of Kentucky’s holdings in Comcast were worth $549,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealthspire Advisors LLC grew its stake in Comcast by 4.8% in the 4th quarter. Wealthspire Advisors LLC now owns 60,650 shares of the cable giant’s stock valued at $2,659,000 after acquiring an additional 2,781 shares during the last quarter. Everett Harris & Co. CA increased its stake in shares of Comcast by 7.7% during the 4th quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock worth $73,993,000 after purchasing an additional 121,279 shares in the last quarter. Desjardins Global Asset Management Inc. raised its position in shares of Comcast by 1.5% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock worth $4,438,000 after purchasing an additional 1,486 shares during the last quarter. Brevan Howard Capital Management LP purchased a new stake in Comcast in the 4th quarter valued at approximately $2,056,000. Finally, Axxcess Wealth Management LLC grew its holdings in Comcast by 10.5% during the 4th quarter. Axxcess Wealth Management LLC now owns 115,503 shares of the cable giant’s stock valued at $5,065,000 after buying an additional 10,936 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CMCSA shares. Scotiabank reduced their price objective on Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a research report on Friday, April 26th. Benchmark restated a “buy” rating and issued a $55.00 target price on shares of Comcast in a report on Monday, May 13th. Seaport Res Ptn downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a report on Monday, June 24th. BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target on the stock. in a research note on Tuesday, June 11th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 target price on shares of Comcast in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $48.62.

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 stock was sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the transaction, the insider now owns 2,000,000 shares of the company’s stock, valued at approximately $6,380,000. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.26% of the company’s stock.

Comcast Price Performance

CMCSA stock opened at $39.16 on Friday. The stock has a 50-day simple moving average of $38.71 and a 200-day simple moving average of $41.39. The firm has a market cap of $153.65 billion, a P/E ratio of 10.36, a price-to-earnings-growth ratio of 0.96 and a beta of 1.00. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59. Comcast Co. has a 1 year low of $36.43 and a 1 year high of $47.46.

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

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders 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 dividend yield of 3.17%. Comcast’s dividend payout ratio is presently 32.80%.

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.