Red Spruce Capital LLC Trims Stock Position in Comcast Co. (NASDAQ:CMCSA)

Red Spruce Capital LLC lowered its position in shares of Comcast Co. (NASDAQ:CMCSA) by 2.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,989 shares of the cable giant’s stock after selling 1,330 shares during the period. Red Spruce Capital LLC’s holdings in Comcast were worth $1,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CMCSA. Steph & Co. increased its position in shares of Comcast by 154.6% during the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after acquiring an additional 371 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in Comcast in the fourth quarter valued at approximately $28,000. Fairscale Capital LLC acquired a new position in Comcast during the second quarter worth $26,000. Pineridge Advisors LLC purchased a new position in shares of Comcast during the fourth quarter worth $32,000. Finally, Financial Synergies Wealth Advisors Inc. boosted its position in shares of Comcast by 336.9% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock worth $33,000 after buying an additional 593 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Evercore ISI lowered their price objective on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. KeyCorp decreased their target price on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. Finally, BNP Paribas cut Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price objective for the company. in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $45.58.

Comcast Price Performance

Shares of NASDAQ CMCSA traded up $0.38 during midday trading on Friday, hitting $41.19. The company had a trading volume of 13,697,490 shares, compared to its average volume of 19,890,191. The firm has a market capitalization of $161.61 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 1.08 and a beta of 1.01. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.11. The business has a 50-day simple moving average of $39.94 and a two-hundred day simple moving average of $39.54. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. The firm had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. Comcast’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.13 earnings per share. Equities research analysts anticipate that Comcast Co. will post 4.23 earnings per share for the current year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s payout ratio is currently 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.