Ledyard National Bank Sells 72,963 Shares of Comcast Corporation $CMCSA

Ledyard National Bank trimmed its stake in Comcast Corporation (NASDAQ:CMCSA) by 66.2% during the 4th quarter, Holdings Channel reports. The firm owned 37,275 shares of the cable giant’s stock after selling 72,963 shares during the quarter. Ledyard National Bank’s holdings in Comcast were worth $1,114,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Capital A Wealth Management LLC increased its position in shares of Comcast by 173.7% in the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock worth $25,000 after purchasing an additional 436 shares during the last quarter. Imprint Wealth LLC purchased a new stake in Comcast in the third quarter worth approximately $26,000. United Financial Planning Group LLC purchased a new stake in Comcast in the third quarter worth approximately $28,000. Olistico Wealth LLC purchased a new stake in Comcast in the fourth quarter worth approximately $29,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Comcast in the second quarter worth approximately $31,000. 84.32% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the transaction, the chief executive officer directly owned 622,336 shares in the company, valued at $20,325,493.76. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.32% of the stock is owned by insiders.

Comcast Price Performance

CMCSA opened at $27.96 on Thursday. The stock has a fifty day simple moving average of $30.21 and a two-hundred day simple moving average of $29.27. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The company has a market cap of $100.60 billion, a price-to-earnings ratio of 5.21, a price-to-earnings-growth ratio of 2.26 and a beta of 0.80. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $36.66.

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

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, April 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.7%. Comcast’s dividend payout ratio (DPR) is presently 24.58%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CMCSA. Sanford C. Bernstein cut their target price on Comcast from $34.00 to $32.00 and set a “market perform” rating for the company in a research note on Thursday, January 15th. Pivotal Research lowered Comcast from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Bank of America raised Comcast from a “neutral” rating to a “buy” rating and raised their price target for the stock from $31.00 to $37.00 in a research note on Monday, January 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comcast in a report on Friday, January 9th. Finally, Barclays set a $28.00 price objective on Comcast and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. Ten research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Comcast presently has an average rating of “Hold” and a consensus target price of $34.68.

Comcast Company Profile

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.