Vestcor Inc Lowers Stock Holdings in Comcast Corporation $CMCSA

Vestcor Inc reduced its stake in Comcast Corporation (NASDAQ:CMCSA) by 12.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,179 shares of the cable giant’s stock after selling 20,294 shares during the period. Vestcor Inc’s holdings in Comcast were worth $4,373,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CMCSA. Capital A Wealth Management LLC boosted its holdings in shares of Comcast by 173.7% in the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after purchasing an additional 436 shares during the period. Avalon Trust Co grew its stake in Comcast by 433.3% in the second quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after purchasing an additional 624 shares in the last quarter. Howard Hughes Medical Institute purchased a new position in Comcast during the 2nd quarter worth $29,000. Newbridge Financial Services Group Inc. purchased a new position in Comcast during the 2nd quarter worth $31,000. Finally, Corsicana & Co. bought a new stake in Comcast during the 3rd quarter valued at $32,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following the completion of the sale, the chief executive officer directly owned 622,336 shares in the company, valued at approximately $20,325,493.76. This trade represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.26% of the company’s stock.

Comcast Price Performance

Shares of CMCSA opened at $31.04 on Tuesday. The company has a 50 day moving average of $30.08 and a two-hundred day moving average of $29.92. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. Comcast Corporation has a twelve month low of $25.75 and a twelve month high of $37.97. The company has a market cap of $111.68 billion, a price-to-earnings ratio of 5.78, a price-to-earnings-growth ratio of 2.49 and a beta of 0.79.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The business had revenue of $32.31 billion for the quarter, compared to the consensus estimate of $32.35 billion. During the same period in the prior year, the firm posted $0.96 earnings per share. The business’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, April 1st. Comcast’s dividend payout ratio is currently 24.58%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CMCSA shares. Scotiabank dropped their price target on Comcast from $37.50 to $35.25 and set a “sector perform” rating on the stock in a research report on Friday, January 30th. Rosenblatt Securities restated a “neutral” rating and issued a $30.00 price objective on shares of Comcast in a report on Friday, January 30th. Sanford C. Bernstein lowered their price objective on shares of Comcast from $34.00 to $32.00 and set a “market perform” rating for the company in a research note on Thursday, January 15th. Moffett Nathanson dropped their target price on shares of Comcast from $58.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Finally, Royal Bank Of Canada cut their target price on shares of Comcast from $32.00 to $31.00 and set a “sector perform” rating on the stock in a research report on Friday, January 16th. Ten research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $34.87.

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.