M&T Bank Corp Decreases Stock Holdings in Comcast Corporation $CMCSA

M&T Bank Corp cut its stake in Comcast Corporation (NASDAQ:CMCSA) by 2.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 723,463 shares of the cable giant’s stock after selling 21,434 shares during the period. M&T Bank Corp’s holdings in Comcast were worth $25,821,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cranbrook Wealth Management LLC increased its position in shares of Comcast by 86.0% during the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after acquiring an additional 350 shares during the period. Global Trust Asset Management LLC boosted its holdings in shares of Comcast by 906.8% in the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 671 shares during the period. Avalon Trust Co grew its stake in Comcast by 433.3% in the second quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after purchasing an additional 624 shares in the last quarter. Ransom Advisory Ltd purchased a new position in Comcast during the 1st quarter worth $29,000. Finally, Princeton Global Asset Management LLC raised its position in Comcast by 403.5% during the 2nd quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant’s stock valued at $31,000 after purchasing an additional 686 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Trading Up 1.7%

Shares of Comcast stock opened at $27.02 on Wednesday. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $43.45. The firm’s 50 day simple moving average is $28.74 and its two-hundred day simple moving average is $32.21. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $98.46 billion, a price-to-earnings ratio of 4.50, a PEG ratio of 1.82 and a beta of 0.83.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. The company had revenue of $30.34 billion during the quarter. Comcast had a return on equity of 18.06% and a net margin of 18.33%. Analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 14th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, January 14th. This represents a $1.32 dividend on an annualized basis and a yield of 4.9%. Comcast’s dividend payout ratio (DPR) is currently 21.96%.

Analysts Set New Price Targets

Several research firms have recently commented on CMCSA. Daiwa Capital Markets reduced their price target on Comcast from $38.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, November 18th. Oppenheimer set a $38.00 target price on shares of Comcast in a report on Tuesday, November 4th. Bank of America decreased their price target on shares of Comcast from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, September 29th. Benchmark cut their price objective on shares of Comcast from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Finally, Barclays reduced their price objective on shares of Comcast from $34.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, November 3rd. Eleven investment analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.82.

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.