Michael Cavanagh Sells 57,947 Shares of Comcast (NASDAQ:CMCSA) Stock

Comcast Corporation (NASDAQ:CMCSA) CEO Michael Cavanagh sold 57,947 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the sale, the chief executive officer owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. The trade was a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Comcast Price Performance

Shares of Comcast stock traded down $0.25 on Friday, hitting $31.57. 28,486,751 shares of the company were exchanged, compared to its average volume of 36,458,145. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The company has a 50-day moving average price of $29.19 and a 200 day moving average price of $30.12. The stock has a market capitalization of $115.04 billion, a price-to-earnings ratio of 5.88, a price-to-earnings-growth ratio of 2.48 and a beta of 0.81. Comcast Corporation has a 1-year low of $25.75 and a 1-year high of $37.97.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The company had revenue of $32.31 billion for the quarter, compared to analyst estimates of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 earnings per share. As a group, sell-side analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.2%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio (DPR) is presently 24.58%.

Hedge Funds Weigh In On Comcast

Institutional investors have recently modified their holdings of the business. Cape Investment Advisory Inc. increased its holdings in Comcast by 2.6% during the 2nd quarter. Cape Investment Advisory Inc. now owns 12,275 shares of the cable giant’s stock worth $438,000 after purchasing an additional 307 shares during the period. Coign Capital Advisors LLC raised its holdings in Comcast by 2.1% in the second quarter. Coign Capital Advisors LLC now owns 15,919 shares of the cable giant’s stock valued at $568,000 after acquiring an additional 324 shares in the last quarter. OneAscent Family Office LLC lifted its stake in Comcast by 4.9% in the second quarter. OneAscent Family Office LLC now owns 7,048 shares of the cable giant’s stock worth $252,000 after acquiring an additional 332 shares during the last quarter. Titleist Asset Management LLC grew its holdings in Comcast by 4.7% during the 2nd quarter. Titleist Asset Management LLC now owns 7,618 shares of the cable giant’s stock worth $272,000 after acquiring an additional 342 shares in the last quarter. Finally, Lakeshore Capital Group Inc. increased its position in shares of Comcast by 2.6% in the 3rd quarter. Lakeshore Capital Group Inc. now owns 13,636 shares of the cable giant’s stock valued at $428,000 after purchasing an additional 343 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on CMCSA shares. Sanford C. Bernstein dropped their price target on shares of Comcast from $34.00 to $32.00 and set a “market perform” rating for the company in a research note on Thursday, January 15th. UBS Group decreased their price objective on Comcast from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Barclays set a $28.00 target price on Comcast and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Scotiabank decreased their price target on Comcast from $37.50 to $35.25 and set a “sector perform” rating on the stock in a research note on Friday, January 30th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $30.00 price objective (down from $39.00) on shares of Comcast in a research report on Friday, October 31st. Ten equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Comcast has a consensus rating of “Hold” and an average price target of $34.90.

About Comcast

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.