Comcast Co. (NASDAQ:CMCSA) declared a quarterly dividend on Friday, October 26th, Wall Street Journal reports. Investors of record on Wednesday, January 2nd will be paid a dividend of 0.19 per share by the cable giant on Wednesday, January 23rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Monday, December 31st.
Comcast has increased its dividend by an average of 11.9% per year over the last three years and has increased its dividend every year for the last 7 years. Comcast has a dividend payout ratio of 30.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Comcast to earn $2.79 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 27.2%.
Shares of NASDAQ:CMCSA traded down $0.60 during trading on Friday, reaching $35.24. The company’s stock had a trading volume of 38,430,167 shares, compared to its average volume of 25,422,619. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.86. Comcast has a 12 month low of $30.43 and a 12 month high of $44.00. The company has a market cap of $166.04 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 1.13 and a beta of 1.19.
In other news, EVP Arthur R. Block sold 1,082 shares of Comcast stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $35.94, for a total transaction of $38,887.08. Following the completion of the sale, the executive vice president now owns 62,476 shares of the company’s stock, valued at $2,245,387.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Arthur R. Block sold 6,448 shares of Comcast stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $35.48, for a total transaction of $228,775.04. Following the sale, the executive vice president now directly owns 74,644 shares of the company’s stock, valued at approximately $2,648,369.12. The disclosure for this sale can be found here. 1.31% of the stock is owned by company insiders.
A number of research analysts recently commented on the stock. Pivotal Research reaffirmed a “buy” rating on shares of Comcast in a report on Friday, August 10th. Credit Suisse Group raised shares of Comcast from a “neutral” rating to an “outperform” rating in a report on Friday. Raymond James raised shares of Comcast from a “market perform” rating to an “outperform” rating in a report on Thursday, July 19th. MED assumed coverage on shares of Comcast in a report on Wednesday. They issued a “buy” rating and a $43.00 price target for the company. They noted that the move was a valuation call. Finally, Moffett Nathanson reaffirmed a “neutral” rating and issued a $36.00 price target on shares of Comcast in a report on Monday, September 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $44.64.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.
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