Comcast Corporation $CMCSA Stock Sold by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. trimmed its stake in Comcast Corporation (NASDAQ:CMCSA) by 43.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,860 shares of the cable giant’s stock after selling 43,090 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Comcast were worth $1,237,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of CMCSA. Bollard Group LLC boosted its position in shares of Comcast by 1.1% in the first quarter. Bollard Group LLC now owns 37,607 shares of the cable giant’s stock worth $1,080,000 after buying an additional 405 shares during the period. Foster Group Inc. boosted its holdings in Comcast by 5.7% in the 2nd quarter. Foster Group Inc. now owns 8,595 shares of the cable giant’s stock worth $211,000 after acquiring an additional 460 shares during the period. Smallwood Wealth Investment Management LLC boosted its holdings in Comcast by 6.7% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 7,375 shares of the cable giant’s stock worth $160,000 after acquiring an additional 460 shares during the period. NFSG Corp grew its position in Comcast by 12.4% in the first quarter. NFSG Corp now owns 4,202 shares of the cable giant’s stock valued at $121,000 after acquiring an additional 463 shares in the last quarter. Finally, Center for Financial Planning Inc. grew its position in Comcast by 5.0% in the first quarter. Center for Financial Planning Inc. now owns 10,081 shares of the cable giant’s stock valued at $289,000 after acquiring an additional 480 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CMCSA. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $23.00 target price on shares of Comcast in a research report on Tuesday, October 13th. Freedom Broker reduced their price target on Comcast from $29.00 to $25.00 and set a “hold” rating for the company in a report on Monday, October 26th. Zacks Research lowered Comcast from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. BNP Paribas Exane dropped their price objective on Comcast from $25.00 to $22.00 and set an “underperform” rating on the stock in a report on Tuesday, July 14th. Finally, Weiss Ratings lowered Comcast from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, October 23rd. Ten analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $28.77.

Comcast Trading Up 0.5%

Shares of NASDAQ CMCSA opened at $24.51 on Tuesday. Comcast Corporation has a 12-month low of $20.48 and a 12-month high of $32.85. The company has a market cap of $87.04 billion, a price-to-earnings ratio of 7.76, a price-to-earnings-growth ratio of 1.75 and a beta of 0.72. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.91. The stock’s 50 day simple moving average is $23.09 and its 200 day simple moving average is $25.97.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, October 22nd. The cable giant reported $1.07 EPS for the quarter, beating the consensus estimate of $0.99 by $0.08. The company had revenue of $29.30 billion for the quarter, compared to analyst estimates of $29.22 billion. Comcast had a net margin of 9.20% and a return on equity of 14.64%. Comcast’s revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.12 earnings per share. Equities research analysts expect that Comcast Corporation will post 3.54 EPS for the current year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Investors of record on Wednesday, January 6th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Wednesday, January 6th. Comcast’s payout ratio is presently 41.77%.

Comcast Profile

Comcast Corporation is a media and telecommunications company whose businesses include broadband, cable television, wireless and voice services, as well as entertainment, news and theme parks. Its Xfinity brand offers residential and business connectivity and entertainment services in the United States.

Through NBCUniversal, Comcast operates the NBC broadcast network, cable channels, the Peacock streaming service, Universal Pictures and Universal theme parks. The company also owns Sky, which provides television, broadband and related services in the United Kingdom and other European markets.

Comcast traces its roots to a cable television business founded in 1963 as American Cable Systems.