Perkins Coie Trust Co Decreases Stock Holdings in Comcast Corporation $CMCSA

Perkins Coie Trust Co lessened its stake in Comcast Corporation (NASDAQ:CMCSA) by 75.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,734 shares of the cable giant’s stock after selling 32,842 shares during the quarter. Perkins Coie Trust Co’s holdings in Comcast were worth $337,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CMCSA. Foster Group Inc. increased its stake in shares of Comcast by 4.0% during the second quarter. Foster Group Inc. now owns 7,418 shares of the cable giant’s stock worth $265,000 after purchasing an additional 282 shares in the last quarter. Argyle Capital Management LLC lifted its stake in Comcast by 0.5% in the 2nd quarter. Argyle Capital Management LLC now owns 61,186 shares of the cable giant’s stock valued at $2,184,000 after buying an additional 300 shares in the last quarter. Webster Bank N. A. boosted its holdings in Comcast by 2.9% in the 2nd quarter. Webster Bank N. A. now owns 10,809 shares of the cable giant’s stock worth $386,000 after buying an additional 305 shares during the last quarter. Cape Investment Advisory Inc. increased its stake in Comcast by 2.6% during the 2nd quarter. Cape Investment Advisory Inc. now owns 12,275 shares of the cable giant’s stock worth $438,000 after buying an additional 307 shares in the last quarter. Finally, United Asset Strategies Inc. increased its stake in Comcast by 2.2% during the 1st quarter. United Asset Strategies Inc. now owns 14,075 shares of the cable giant’s stock worth $519,000 after buying an additional 308 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of a number of research analyst reports. TD Cowen lowered their price target on Comcast from $46.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Williams Trading set a $40.00 price objective on Comcast in a report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a research note on Tuesday, October 14th. Benchmark reduced their target price on shares of Comcast from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Finally, Scotiabank lowered their price target on shares of Comcast from $45.50 to $41.50 and set a “sector perform” rating on the stock in a research report on Friday, October 31st. Eleven investment analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Comcast presently has a consensus rating of “Hold” and an average price target of $35.92.

Comcast Stock Down 2.3%

NASDAQ CMCSA opened at $29.57 on Friday. The business’s fifty day simple moving average is $28.01 and its 200-day simple moving average is $31.65. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The firm has a market cap of $107.75 billion, a PE ratio of 4.92, a P/E/G ratio of 2.08 and a beta of 0.83. Comcast Corporation has a 52 week low of $25.75 and a 52 week high of $38.46.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The firm had revenue of $30.34 billion during the quarter. As a group, equities analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 14th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, January 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.5%. Comcast’s dividend payout ratio (DPR) is currently 21.96%.

Comcast Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.