Washington Trust Bank Has $12.44 Million Position in Comcast Corporation $CMCSA

Washington Trust Bank lifted its position in Comcast Corporation (NASDAQ:CMCSA) by 7.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 395,806 shares of the cable giant’s stock after acquiring an additional 26,525 shares during the period. Washington Trust Bank’s holdings in Comcast were worth $12,436,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Parnassus Investments LLC grew its holdings in shares of Comcast by 2.8% in the 3rd quarter. Parnassus Investments LLC now owns 2,045,409 shares of the cable giant’s stock valued at $64,267,000 after buying an additional 55,917 shares during the period. MASTERINVEST Kapitalanlage GmbH raised its stake in Comcast by 13.3% during the 3rd quarter. MASTERINVEST Kapitalanlage GmbH now owns 88,734 shares of the cable giant’s stock worth $2,788,000 after buying an additional 10,437 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Comcast by 9.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 530,228 shares of the cable giant’s stock worth $16,660,000 after acquiring an additional 43,581 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in Comcast by 5.9% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 11,554 shares of the cable giant’s stock valued at $363,000 after acquiring an additional 639 shares during the period. Finally, Kesler Norman & Wride LLC increased its holdings in shares of Comcast by 16.9% in the third quarter. Kesler Norman & Wride LLC now owns 19,653 shares of the cable giant’s stock worth $617,000 after acquiring an additional 2,845 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CMCSA. JPMorgan Chase & Co. dropped their target price on shares of Comcast from $38.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Zacks Research raised shares of Comcast from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comcast in a report on Tuesday, October 14th. Seaport Res Ptn lowered Comcast from a “strong-buy” rating to a “hold” rating in a report on Friday, October 31st. Finally, Moffett Nathanson reduced their price objective on Comcast from $58.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Eleven investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $35.24.

Comcast Stock Up 0.6%

NASDAQ:CMCSA opened at $28.37 on Friday. Comcast Corporation has a twelve month low of $25.75 and a twelve month high of $38.40. The firm has a market capitalization of $103.38 billion, a price-to-earnings ratio of 4.72, a price-to-earnings-growth ratio of 1.98 and a beta of 0.81. 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 stock’s 50 day moving average price is $28.00 and its two-hundred day moving average price is $31.03.

Comcast (NASDAQ:CMCSA) last released its earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. The business had revenue of $30.34 billion during the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. Equities research analysts expect that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 14th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, January 14th. This represents a $1.32 annualized dividend and a dividend yield of 4.7%. Comcast’s payout ratio is currently 21.96%.

About Comcast

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.