Penobscot Investment Management Company Inc. Sells 2,613 Shares of Comcast Corporation $CMCSA

Penobscot Investment Management Company Inc. cut its stake in Comcast Corporation (NASDAQ:CMCSA) by 11.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,512 shares of the cable giant’s stock after selling 2,613 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Comcast were worth $696,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Advisor OS LLC raised its stake in shares of Comcast by 33.2% in the 1st quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock valued at $1,308,000 after buying an additional 8,841 shares in the last quarter. Resona Asset Management Co. Ltd. raised its stake in shares of Comcast by 10.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant’s stock valued at $47,254,000 after buying an additional 118,839 shares in the last quarter. OMNI 360 Wealth Inc. acquired a new position in shares of Comcast in the 1st quarter valued at $335,000. DAVENPORT & Co LLC raised its stake in shares of Comcast by 41.7% in the 1st quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant’s stock valued at $157,766,000 after buying an additional 1,261,278 shares in the last quarter. Finally, Kestra Investment Management LLC raised its stake in shares of Comcast by 49.5% in the 1st quarter. Kestra Investment Management LLC now owns 71,331 shares of the cable giant’s stock valued at $2,632,000 after buying an additional 23,607 shares in the last quarter. 84.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CMCSA. Barclays dropped their price objective on shares of Comcast from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. Sanford C. Bernstein dropped their target price on shares of Comcast from $37.00 to $36.00 and set a “market perform” rating for the company in a research report on Wednesday, September 10th. Loop Capital dropped their target price on shares of Comcast from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday. The Goldman Sachs Group dropped their target price on shares of Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Comcast in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.26.

Comcast Stock Up 1.6%

Shares of NASDAQ:CMCSA opened at $30.90 on Friday. Comcast Corporation has a 12 month low of $30.38 and a 12 month high of $45.31. The company’s 50-day moving average price is $32.73 and its two-hundred day moving average price is $34.15. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The firm has a market cap of $114.09 billion, a P/E ratio of 5.11, a P/E/G ratio of 1.81 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. During the same quarter in the prior year, the firm earned $1.21 EPS. The company’s revenue was up 2.1% on a year-over-year basis. As a group, research analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.3%. Comcast’s dividend payout ratio is currently 21.82%.

Comcast Company 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.