Bangor Savings Bank Raises Stock Position in Comcast Corporation $CMCSA

Bangor Savings Bank raised its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,734 shares of the cable giant’s stock after purchasing an additional 518 shares during the quarter. Bangor Savings Bank’s holdings in Comcast were worth $740,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Sculati Wealth Management LLC increased its stake in shares of Comcast by 0.9% in the 4th quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant’s stock worth $1,156,000 after acquiring an additional 285 shares in the last quarter. Toth Financial Advisory Corp increased its stake in shares of Comcast by 9.0% during the first quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant’s stock valued at $134,000 after purchasing an additional 300 shares in the last quarter. Clearstead Trust LLC lifted its holdings in shares of Comcast by 5.2% during the first quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant’s stock valued at $227,000 after purchasing an additional 305 shares during the last quarter. United Asset Strategies Inc. boosted its position in shares of Comcast by 2.2% in the 1st quarter. United Asset Strategies Inc. now owns 14,075 shares of the cable giant’s stock worth $519,000 after purchasing an additional 308 shares in the last quarter. Finally, Moors & Cabot Inc. grew its stake in shares of Comcast by 0.6% in the 1st quarter. Moors & Cabot Inc. now owns 54,163 shares of the cable giant’s stock worth $1,999,000 after buying an additional 310 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Stock Performance

Shares of CMCSA stock opened at $33.06 on Friday. The company has a 50 day moving average price of $33.79 and a 200-day moving average price of $34.59. Comcast Corporation has a 52 week low of $31.03 and a 52 week high of $45.31. The firm has a market capitalization of $122.06 billion, a PE ratio of 5.46, a P/E/G ratio of 2.00 and a beta of 0.93. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. During the same period in the previous year, the business posted $1.21 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts expect that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a $0.33 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.0%. Comcast’s payout ratio is currently 21.82%.

Analyst Upgrades and Downgrades

Several research firms have commented on CMCSA. Rosenblatt Securities boosted their target price on Comcast from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, August 4th. Barclays cut their price objective on shares of Comcast from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, August 1st. Rothschild & Co Redburn decreased their target price on shares of Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Citigroup reaffirmed a “buy” rating on shares of Comcast in a report on Tuesday, August 26th. Finally, Arete Research raised shares of Comcast to a “hold” rating in a report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $40.56.

Comcast 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.