BTC Capital Management Inc. Lowers Position in Comcast Corporation (CMCSA)

BTC Capital Management Inc. trimmed its holdings in Comcast Corporation (NASDAQ:CMCSA) by 6.0% during the third quarter, Holdings Channel reports. The fund owned 64,781 shares of the cable giant’s stock after selling 4,141 shares during the period. BTC Capital Management Inc.’s holdings in Comcast were worth $2,491,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Connecticut Wealth Management LLC grew its stake in Comcast by 0.4% in the 2nd quarter. Connecticut Wealth Management LLC now owns 6,602 shares of the cable giant’s stock valued at $256,000 after acquiring an additional 24 shares during the last quarter. Financial Consulate Inc. grew its stake in Comcast by 0.5% in the 2nd quarter. Financial Consulate Inc. now owns 6,400 shares of the cable giant’s stock valued at $249,000 after acquiring an additional 30 shares during the last quarter. Clarius Group LLC grew its stake in Comcast by 0.4% in the 2nd quarter. Clarius Group LLC now owns 8,041 shares of the cable giant’s stock valued at $313,000 after acquiring an additional 32 shares during the last quarter. GM Advisory Group Inc. grew its stake in Comcast by 0.9% in the 2nd quarter. GM Advisory Group Inc. now owns 5,554 shares of the cable giant’s stock valued at $217,000 after acquiring an additional 48 shares during the last quarter. Finally, Peoples Bank OH grew its stake in Comcast by 0.9% in the 2nd quarter. Peoples Bank OH now owns 6,340 shares of the cable giant’s stock valued at $247,000 after acquiring an additional 59 shares during the last quarter. 82.13% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Arthur R. Block sold 3,937 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $40.62, for a total value of $159,920.94. Following the transaction, the executive vice president now owns 65,946 shares in the company, valued at $2,678,726.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Brian L. Roberts sold 583,835 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $38.67, for a total transaction of $22,576,899.45. Following the completion of the transaction, the chairman now owns 1,711,798 shares in the company, valued at approximately $66,195,228.66. The disclosure for this sale can be found here. Insiders sold 593,402 shares of company stock worth $22,961,401 in the last 90 days. 1.28% of the stock is currently owned by insiders.

Shares of Comcast Corporation (NASDAQ CMCSA) opened at $40.61 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.74 and a quick ratio of 0.74. Comcast Corporation has a 12-month low of $34.78 and a 12-month high of $42.18. The stock has a market cap of $189,800.00, a P/E ratio of 19.16, a P/E/G ratio of 1.85 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, October 26th. The cable giant reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.03. Comcast had a net margin of 11.99% and a return on equity of 17.17%. The business had revenue of $20.98 billion for the quarter, compared to analysts’ expectations of $21.05 billion. During the same period last year, the company earned $0.92 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. analysts anticipate that Comcast Corporation will post 2.05 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 3rd will be issued a $0.157 dividend. The ex-dividend date is Tuesday, January 2nd. This represents a $0.63 annualized dividend and a yield of 1.55%. Comcast’s payout ratio is 29.72%.

CMCSA has been the topic of several analyst reports. Morgan Stanley raised their price target on shares of Comcast from $44.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday. Evercore ISI raised their price target on shares of Comcast from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday. Buckingham Research raised their price target on shares of Comcast from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday. Pivotal Research reaffirmed a “buy” rating and set a $50.00 price target on shares of Comcast in a research note on Tuesday, December 19th. Finally, Macquarie reaffirmed a “buy” rating and set a $40.00 price target on shares of Comcast in a research note on Thursday, December 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $46.15.

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About Comcast

Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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