Comcast Co. (NASDAQ:CMCSA) Shares Sold by Pacific Center for Financial Services

Pacific Center for Financial Services trimmed its position in Comcast Co. (NASDAQ:CMCSA) by 9.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,199 shares of the cable giant’s stock after selling 671 shares during the period. Pacific Center for Financial Services’ holdings in Comcast were worth $259,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Fairscale Capital LLC bought a new stake in shares of Comcast in the 2nd quarter worth approximately $26,000. Safe Harbor Fiduciary LLC bought a new stake in Comcast during the third quarter worth approximately $30,000. McClarren Financial Advisors Inc. grew its position in Comcast by 365.4% in the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after buying an additional 570 shares during the last quarter. Iron Horse Wealth Management LLC lifted its position in shares of Comcast by 220.3% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock valued at $32,000 after acquiring an additional 522 shares during the last quarter. Finally, IAG Wealth Partners LLC boosted its stake in shares of Comcast by 204.7% during the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after acquiring an additional 522 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CMCSA. StockNews.com lowered Comcast from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Pivotal Research boosted their price objective on Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Barclays raised their target price on shares of Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. TD Cowen dropped their target price on shares of Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Scotiabank upgraded shares of Comcast from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $47.75 to $48.00 in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Comcast currently has a consensus rating of “Moderate Buy” and an average price target of $47.19.

Comcast Trading Up 0.8 %

NASDAQ CMCSA opened at $43.15 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11. The firm’s fifty day simple moving average is $42.48 and its 200-day simple moving average is $40.30. The company has a market capitalization of $165.12 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 1.61 and a beta of 0.99.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.06. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The firm had revenue of $32.07 billion for the quarter, compared to analyst estimates of $31.78 billion. During the same quarter last year, the firm earned $1.08 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Comcast Co. will post 4.26 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be given a $0.31 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.87%. Comcast’s dividend payout ratio is currently 33.33%.

Insider Transactions at Comcast

In other Comcast news, CEO Brian L. Roberts sold 234,464 shares of Comcast stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total value of $10,002,234.24. Following the transaction, the chief executive officer now directly owns 6,669,928 shares of the company’s stock, valued at $284,539,128.48. The trade was a 3.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Michael J. Cavanagh sold 25,537 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the transaction, the president now directly owns 534,849 shares in the company, valued at $22,779,218.91. This trade represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by corporate insiders.

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.