Coastline Trust Co Lowers Stock Position in Comcast Corporation (NASDAQ:CMCSA)

Coastline Trust Co cut its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 29.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,214 shares of the cable giant’s stock after selling 9,573 shares during the quarter. Coastline Trust Co’s holdings in Comcast were worth $857,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CMCSA. Raymond James Financial Inc. bought a new position in Comcast during the fourth quarter valued at about $743,681,000. Mission Wealth Management LP grew its position in shares of Comcast by 8.3% during the 4th quarter. Mission Wealth Management LP now owns 43,509 shares of the cable giant’s stock valued at $1,633,000 after acquiring an additional 3,344 shares during the period. Aviva PLC increased its stake in shares of Comcast by 7.2% during the 4th quarter. Aviva PLC now owns 2,327,702 shares of the cable giant’s stock worth $87,359,000 after purchasing an additional 156,986 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Comcast by 7.1% in the 4th quarter. First Eagle Investment Management LLC now owns 34,101,077 shares of the cable giant’s stock worth $1,279,813,000 after purchasing an additional 2,270,186 shares during the period. Finally, DAVENPORT & Co LLC lifted its stake in Comcast by 41.7% in the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant’s stock valued at $157,766,000 after purchasing an additional 1,261,278 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $36.33 on Wednesday. The stock’s 50-day moving average is $34.69 and its 200 day moving average is $35.56. The stock has a market cap of $135.65 billion, a price-to-earnings ratio of 8.93, a P/E/G ratio of 1.73 and a beta of 0.95. Comcast Corporation has a 1-year low of $31.44 and a 1-year high of $45.31. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.06.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The firm had revenue of $29.89 billion during the quarter, compared to analyst estimates of $29.82 billion. During the same period in the previous year, the business posted $1.04 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. On average, sell-side analysts anticipate that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.63%. Comcast’s dividend payout ratio (DPR) is currently 32.43%.

Wall Street Analyst Weigh In

Several research firms have commented on CMCSA. Rosenblatt Securities reaffirmed a “neutral” rating and set a $36.00 price objective on shares of Comcast in a report on Monday, April 28th. UBS Group set a $44.50 price objective on shares of Comcast in a report on Friday, April 25th. Oppenheimer reduced their price objective on shares of Comcast from $55.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Citigroup dropped their target price on Comcast from $44.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Finally, Argus cut Comcast from a “buy” rating to a “hold” rating in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average 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.