FARMERS & MERCHANTS TRUST Co OF LONG BEACH lowered its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,061 shares of the cable giant’s stock after selling 337 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Comcast were worth $1,290,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. Vanguard Group Inc. increased its stake in Comcast by 1.0% during the second quarter. Vanguard Group Inc. now owns 391,480,518 shares of the cable giant’s stock worth $22,322,220,000 after acquiring an additional 3,978,161 shares during the last quarter. Capital International Investors raised its holdings in Comcast by 2.9% during the 2nd quarter. Capital International Investors now owns 226,174,387 shares of the cable giant’s stock valued at $12,895,902,000 after buying an additional 6,432,001 shares during the period. State Street Corp lifted its position in Comcast by 2.3% in the second quarter. State Street Corp now owns 170,761,419 shares of the cable giant’s stock worth $9,736,816,000 after buying an additional 3,795,262 shares during the last quarter. FMR LLC boosted its stake in Comcast by 12.0% during the second quarter. FMR LLC now owns 112,683,895 shares of the cable giant’s stock worth $6,425,236,000 after buying an additional 12,066,751 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Comcast by 3.1% in the second quarter. Geode Capital Management LLC now owns 75,017,749 shares of the cable giant’s stock valued at $4,265,121,000 after acquiring an additional 2,228,592 shares during the period. 82.48% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently weighed in on the stock. TD Securities reduced their price objective on shares of Comcast from $71.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, October 29th. Barclays decreased their price target on Comcast from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, November 1st. BNP Paribas assumed coverage on Comcast in a research report on Monday, September 27th. They issued an “outperform” rating and a $72.00 price objective on the stock. Exane BNP Paribas began coverage on Comcast in a research report on Monday, September 27th. They set an “outperform” rating and a $72.00 target price for the company. Finally, Wells Fargo & Company decreased their price objective on shares of Comcast from $49.00 to $46.00 and set an “underweight” rating for the company in a report on Friday, October 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, Comcast currently has an average rating of “Buy” and an average price target of $65.87.
Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 28th. The cable giant reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. The business had revenue of $30.30 billion for the quarter, compared to the consensus estimate of $29.87 billion. Comcast had a return on equity of 14.88% and a net margin of 12.73%. The business’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 earnings per share. Equities research analysts forecast that Comcast Co. will post 3.15 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 26th. Shareholders of record on Wednesday, January 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Tuesday, January 4th. Comcast’s dividend payout ratio (DPR) is presently 32.26%.
Comcast Corp. is a media, entertainment, and communications company, which engages in the provision of video, Internet, and phone services. It operates through the following segments: Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks and Sky. The Cable Communications segment provides video, Internet, voice, and security and automation services under the Xfinity brand.
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