Burke & Herbert Bank & Trust Co. Buys 6,821 Shares of Comcast Co. (NASDAQ:CMCSA)

Burke & Herbert Bank & Trust Co. boosted its position in Comcast Co. (NASDAQ:CMCSA) by 42.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,013 shares of the cable giant’s stock after acquiring an additional 6,821 shares during the quarter. Burke & Herbert Bank & Trust Co.’s holdings in Comcast were worth $901,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Comcast in the 4th quarter worth $2,542,988,000. Capital World Investors increased its holdings in shares of Comcast by 17.0% in the fourth quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock worth $4,725,926,000 after buying an additional 15,625,543 shares during the period. Ontario Teachers Pension Plan Board lifted its stake in shares of Comcast by 25,881.7% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock valued at $470,391,000 after acquiring an additional 10,809,231 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Comcast by 41.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock valued at $1,214,512,000 after acquiring an additional 8,243,302 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in Comcast by 80.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock worth $457,007,000 after acquiring an additional 4,714,586 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total value of $10,134,384.37. Following the transaction, the insider now directly owns 2,000,000 shares of the company’s stock, valued at approximately $6,380,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.26% of the company’s stock.

Comcast Stock Performance

Comcast stock opened at $39.12 on Wednesday. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.46. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $153.49 billion, a P/E ratio of 10.35, a PEG ratio of 1.07 and a beta of 1.00. The stock’s 50 day moving average is $38.69 and its 200 day moving average is $40.29.

Comcast (NASDAQ:CMCSA) last released its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The business had revenue of $29.69 billion for the quarter, compared to the consensus estimate of $30.02 billion. During the same period in the previous year, the company posted $1.13 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities research analysts predict that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 3.17%. Comcast’s dividend payout ratio is currently 32.80%.

Analyst Ratings Changes

CMCSA has been the topic of a number of analyst reports. BNP Paribas cut shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price objective on the stock. in a research report on Tuesday, June 11th. Pivotal Research lowered their price target on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Rosenblatt Securities reiterated a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a research report on Wednesday, July 24th. The Goldman Sachs Group began coverage on Comcast in a report on Tuesday, June 25th. They set a “buy” rating and a $44.00 target price for the company. Finally, Barclays cut their price target on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Comcast has an average rating of “Hold” and an average price target of $45.78.

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.