WASHINGTON TRUST Co Lowers Position in Comcast Corporation $CMCSA

WASHINGTON TRUST Co lowered its holdings in Comcast Corporation (NASDAQ:CMCSA) by 50.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC grew its position in Comcast by 150.9% during the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock worth $6,240,000 after acquiring an additional 99,986 shares during the last quarter. Voya Financial Advisors Inc. grew its position in shares of Comcast by 3.2% in the 2nd quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock worth $2,963,000 after buying an additional 2,593 shares during the last quarter. United Bank grew its position in shares of Comcast by 11.3% in the 2nd quarter. United Bank now owns 42,216 shares of the cable giant’s stock worth $1,507,000 after buying an additional 4,290 shares during the last quarter. HUB Investment Partners LLC grew its position in shares of Comcast by 119.4% in the 2nd quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock worth $606,000 after buying an additional 9,236 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its position in shares of Comcast by 66.8% in the 2nd quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant’s stock worth $1,414,000 after buying an additional 15,865 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a research report on Wednesday, April 8th. Deutsche Bank Aktiengesellschaft lowered Comcast from a “buy” rating to a “hold” rating and set a $34.00 price target on the stock. in a research report on Friday, April 24th. Rosenblatt Securities restated a “neutral” rating and set a $30.00 price target on shares of Comcast in a research report on Friday, January 30th. Citigroup lifted their price target on Comcast from $33.00 to $35.50 and gave the company a “buy” rating in a research report on Friday, April 24th. Finally, Morgan Stanley lifted their price objective on Comcast from $31.00 to $33.00 and gave the company an “equal weight” rating in a research note on Friday, April 24th. Nine equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.79.

Comcast Stock Down 1.2%

CMCSA stock opened at $24.87 on Friday. Comcast Corporation has a 1-year low of $24.53 and a 1-year high of $36.66. The business has a fifty day moving average price of $27.26 and a 200-day moving average price of $28.54. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $88.84 billion, a P/E ratio of 4.90, a P/E/G ratio of 2.02 and a beta of 0.71.

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

Comcast Announces Dividend

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

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.