Raymond James downgraded shares of Comcast (NASDAQ:CMCSA) from a strong-buy rating to an outperform rating in a report published on Friday. Raymond James currently has $21.00 price target on the cable giant’s stock, down from their previous price target of $25.00.
A number of other research analysts have also commented on CMCSA. Guggenheim upgraded shares of Comcast from a neutral rating to a buy rating and set a $42.31 price objective on the stock in a research note on Thursday, May 30th. BidaskClub upgraded shares of Comcast from a sell rating to a hold rating in a research note on Monday, February 25th. Nomura raised their price objective on shares of Comcast from $41.00 to $44.00 and gave the company a neutral rating in a research note on Friday, April 12th. Macquarie upgraded shares of Comcast from a neutral rating to an outperform rating and set a $49.00 price objective on the stock in a research note on Tuesday, April 9th. Finally, Royal Bank of Canada lowered shares of Comcast from an outperform rating to a sector perform rating and lowered their price objective for the company from $45.00 to $42.00 in a research note on Friday, March 29th. Eight analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Comcast presently has a consensus rating of Buy and a consensus price target of $43.68.
Shares of NASDAQ:CMCSA opened at $42.56 on Friday. The company has a 50 day moving average price of $42.45. Comcast has a 52 week low of $32.08 and a 52 week high of $43.96. The firm has a market capitalization of $193.16 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 1.18 and a beta of 1.11. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.38.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Tuesday, July 2nd. Comcast’s payout ratio is 32.94%.
In related news, EVP Arthur R. Block sold 16,576 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $39.62, for a total transaction of $656,741.12. Following the completion of the sale, the executive vice president now directly owns 86,769 shares in the company, valued at $3,437,787.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Daniel C. Murdock sold 1,038 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $42.00, for a total transaction of $43,596.00. Following the sale, the senior vice president now owns 3,707 shares of the company’s stock, valued at $155,694. The disclosure for this sale can be found here. Insiders have sold 644,419 shares of company stock valued at $27,308,893 over the last 90 days. 1.35% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. Horizon Investments LLC raised its holdings in Comcast by 145.0% in the 1st quarter. Horizon Investments LLC now owns 16,336 shares of the cable giant’s stock worth $650,000 after acquiring an additional 9,668 shares during the period. Nordea Investment Management AB raised its holdings in Comcast by 67.5% in the 1st quarter. Nordea Investment Management AB now owns 17,274,883 shares of the cable giant’s stock worth $690,651,000 after acquiring an additional 6,960,677 shares during the period. Lowe Brockenbrough & Co. Inc. raised its holdings in Comcast by 1.3% in the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 202,350 shares of the cable giant’s stock worth $8,090,000 after acquiring an additional 2,675 shares during the period. Cerebellum GP LLC raised its holdings in Comcast by 110.0% in the 1st quarter. Cerebellum GP LLC now owns 8,603 shares of the cable giant’s stock worth $344,000 after acquiring an additional 4,506 shares during the period. Finally, Hi Line Capital Management LLC raised its holdings in Comcast by 1.7% in the 1st quarter. Hi Line Capital Management LLC now owns 198,515 shares of the cable giant’s stock worth $7,937,000 after acquiring an additional 3,335 shares during the period. Hedge funds and other institutional investors own 82.57% of the company’s stock.
Comcast Company Profile
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.
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