First Citizens Bank & Trust Co. Buys 6,558 Shares of Comcast Co. (NASDAQ:CMCSA)

First Citizens Bank & Trust Co. lifted its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 7.0% in the first quarter, HoldingsChannel reports. The fund owned 100,340 shares of the cable giant’s stock after acquiring an additional 6,558 shares during the period. First Citizens Bank & Trust Co.’s holdings in Comcast were worth $3,703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Capital Investment Advisors LLC grew its stake in shares of Comcast by 9.2% during the 1st quarter. Capital Investment Advisors LLC now owns 54,886 shares of the cable giant’s stock valued at $2,025,000 after acquiring an additional 4,630 shares during the period. PFW Advisors LLC boosted its stake in Comcast by 398.3% in the 1st quarter. PFW Advisors LLC now owns 54,118 shares of the cable giant’s stock worth $1,997,000 after purchasing an additional 43,258 shares during the period. KMG Fiduciary Partners LLC boosted its stake in Comcast by 25.9% in the 1st quarter. KMG Fiduciary Partners LLC now owns 47,705 shares of the cable giant’s stock worth $1,760,000 after purchasing an additional 9,823 shares during the period. City Center Advisors LLC boosted its stake in Comcast by 5.2% in the 1st quarter. City Center Advisors LLC now owns 14,047 shares of the cable giant’s stock worth $518,000 after purchasing an additional 692 shares during the period. Finally, Miracle Mile Advisors LLC boosted its stake in Comcast by 32.7% in the 1st quarter. Miracle Mile Advisors LLC now owns 13,035 shares of the cable giant’s stock worth $481,000 after purchasing an additional 3,213 shares during the period. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Down 0.3%

NASDAQ:CMCSA opened at $34.60 on Tuesday. Comcast Co. has a twelve month low of $31.44 and a twelve month high of $45.31. The company has a market cap of $129.19 billion, a price-to-earnings ratio of 8.34, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. The stock has a fifty day simple moving average of $34.35 and a 200-day simple moving average of $36.27. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. The business had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $29.82 billion. During the same period last year, the company earned $1.04 earnings per share. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts anticipate that Comcast Co. will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be issued a $0.33 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $1.32 annualized dividend and a dividend yield of 3.82%. Comcast’s payout ratio is currently 32.43%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CMCSA. Citigroup dropped their price target on Comcast from $44.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Argus downgraded Comcast from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Morgan Stanley set a $37.00 price objective on Comcast in a report on Friday, April 25th. Wells Fargo & Company cut Comcast from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $37.00 to $31.00 in a report on Monday, April 14th. Finally, Oppenheimer decreased their price objective on Comcast from $55.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.10.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.