WASHINGTON TRUST Co Decreases Position in Comcast Corporation $CMCSA

WASHINGTON TRUST Co lessened its stake in Comcast Corporation (NASDAQ:CMCSA) by 50.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,613 shares of the cable giant’s stock after selling 117,534 shares during the period. WASHINGTON TRUST Co’s holdings in Comcast were worth $3,486,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Imprint Wealth LLC bought a new stake in shares of Comcast in the third quarter valued at about $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Comcast in the fourth quarter valued at about $27,000. United Financial Planning Group LLC bought a new stake in shares of Comcast in the third quarter valued at about $28,000. Olistico Wealth LLC bought a new stake in Comcast during the 4th quarter valued at $29,000. Finally, Richardson Financial Services Inc. boosted its position in Comcast by 212.6% during the 4th quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 691 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Stock Performance

Shares of CMCSA stock opened at $24.87 on Friday. The stock has a market cap of $88.84 billion, a PE ratio of 4.90, a price-to-earnings-growth ratio of 2.02 and a beta of 0.71. The business has a 50-day simple moving average of $27.26 and a 200-day simple moving average of $28.54. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. Comcast Corporation has a 52-week low of $24.53 and a 52-week high of $36.66.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.06. The business had revenue of $31.46 billion during the quarter, compared to analysts’ expectations of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 EPS. On average, equities analysts expect that Comcast Corporation will post 3.58 EPS for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast’s payout ratio is 25.98%.

Wall Street Analyst Weigh In

CMCSA has been the topic of several recent research reports. Evercore increased their target price on Comcast from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. TD Cowen dropped their target price on Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Citigroup boosted their target price on Comcast from $33.00 to $35.50 and gave the stock a “buy” rating in a research note on Friday, April 24th. Zacks Research upgraded Comcast from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, Rosenblatt Securities restated a “neutral” rating and set a $30.00 target price on shares of Comcast in a research note on Friday, January 30th. Nine investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.79.

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.