City Holding Co. Decreases Stock Position in Comcast Co. (NASDAQ:CMCSA)

City Holding Co. reduced its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,110 shares of the cable giant’s stock after selling 510 shares during the quarter. City Holding Co.’s holdings in Comcast were worth $304,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CMCSA. Fairscale Capital LLC acquired a new stake in shares of Comcast during the 2nd quarter worth about $26,000. EverSource Wealth Advisors LLC grew its stake in Comcast by 5.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 29,725 shares of the cable giant’s stock worth $1,227,000 after acquiring an additional 1,484 shares during the period. Steel Grove Capital Advisors LLC raised its holdings in Comcast by 1.2% in the 2nd quarter. Steel Grove Capital Advisors LLC now owns 43,342 shares of the cable giant’s stock valued at $1,697,000 after acquiring an additional 508 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Comcast by 13.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 543,928 shares of the cable giant’s stock worth $21,300,000 after purchasing an additional 62,514 shares during the period. Finally, Evergreen Capital Management LLC boosted its holdings in shares of Comcast by 2.8% during the second quarter. Evergreen Capital Management LLC now owns 79,557 shares of the cable giant’s stock worth $3,115,000 after purchasing an additional 2,153 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Morgan Stanley lowered shares of Comcast from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $48.00 to $45.00 in a research report on Monday, December 16th. Loop Capital cut their target price on Comcast from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Wells Fargo & Company lowered their price target on Comcast from $46.00 to $45.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Barclays raised their price objective on Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Finally, Pivotal Research increased their target price on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Comcast has a consensus rating of “Moderate Buy” and a consensus target price of $47.33.

Comcast Stock Up 0.7 %

Shares of Comcast stock opened at $36.58 on Tuesday. Comcast Co. has a twelve month low of $36.15 and a twelve month high of $47.11. The stock has a market capitalization of $139.97 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 1.33 and a beta of 1.01. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14. The business’s 50 day simple moving average is $39.97 and its 200-day simple moving average is $40.19.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.06. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The firm had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. During the same period last year, the firm posted $1.08 EPS. Comcast’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts forecast that Comcast Co. will post 4.25 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 annualized dividend and a yield of 3.39%. Comcast’s payout ratio is 33.33%.

Insiders Place Their Bets

In related news, President Michael J. Cavanagh sold 25,537 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the completion of the sale, the president now directly owns 534,849 shares of the company’s stock, valued at $22,779,218.91. This represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian L. Roberts sold 234,464 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the transaction, the chief executive officer now directly owns 6,669,928 shares in the company, valued at $284,539,128.48. This represents a 3.40 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is owned by insiders.

Comcast Company 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.