Commerce Bank Cuts Position in Comcast Co. (NASDAQ:CMCSA)

Commerce Bank cut its holdings in shares of Comcast Co. (NASDAQ:CMCSA - Free Report) by 42.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 251,708 shares of the cable giant's stock after selling 187,558 shares during the period. Commerce Bank's holdings in Comcast were worth $10,514,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CMCSA. Fairscale Capital LLC purchased a new position in Comcast in the second quarter valued at $26,000. Strategic Financial Concepts LLC acquired a new stake in Comcast in the 2nd quarter valued at about $27,000. IAG Wealth Partners LLC boosted its stake in shares of Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant's stock valued at $30,000 after buying an additional 522 shares during the period. McClarren Financial Advisors Inc. grew its position in shares of Comcast by 365.4% during the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant's stock worth $30,000 after buying an additional 570 shares in the last quarter. Finally, Archer Investment Corp increased its stake in shares of Comcast by 177.1% during the second quarter. Archer Investment Corp now owns 812 shares of the cable giant's stock worth $32,000 after buying an additional 519 shares during the period. Institutional investors and hedge funds own 84.32% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on CMCSA shares. StockNews.com cut shares of Comcast from a "strong-buy" rating to a "buy" rating in a report on Tuesday, September 24th. Rosenblatt Securities reiterated a "neutral" rating and set a $45.00 target price on shares of Comcast in a research note on Wednesday, November 6th. KeyCorp raised their price target on Comcast from $44.00 to $47.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. TD Cowen lowered their price objective on Comcast from $50.00 to $48.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Finally, Macquarie raised their target price on Comcast from $40.00 to $42.00 and gave the stock a "neutral" rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Comcast has an average rating of "Moderate Buy" and a consensus target price of $47.19.

Comcast Stock Performance

Shares of CMCSA opened at $42.99 on Thursday. The company's 50 day simple moving average is $41.82 and its 200-day simple moving average is $39.97. The firm has a market cap of $164.50 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. Comcast Co. has a 12-month low of $36.43 and a 12-month high of $47.11. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, topping 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 company 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 revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities analysts predict that Comcast Co. will post 4.26 EPS for the current year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast's dividend payout ratio (DPR) is presently 33.33%.

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.