Comcast Co. (NASDAQ:CMCSA) Shares Sold by M&T Bank Corp

M&T Bank Corp lowered its stake in shares of Comcast Co. (NASDAQ:CMCSA - Free Report) by 37.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 949,462 shares of the cable giant's stock after selling 570,677 shares during the quarter. M&T Bank Corp's holdings in Comcast were worth $39,659,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Koshinski Asset Management Inc. grew its stake in Comcast by 0.8% in the third quarter. Koshinski Asset Management Inc. now owns 30,584 shares of the cable giant's stock worth $1,277,000 after purchasing an additional 249 shares during the period. Taurus Asset Management LLC grew its stake in shares of Comcast by 2.9% in the third quarter. Taurus Asset Management LLC now owns 9,125 shares of the cable giant's stock worth $381,000 after acquiring an additional 253 shares during the last quarter. Regent Peak Wealth Advisors LLC grew its stake in shares of Comcast by 3.1% in the third quarter. Regent Peak Wealth Advisors LLC now owns 8,445 shares of the cable giant's stock worth $353,000 after acquiring an additional 257 shares during the last quarter. Abich Financial Wealth Management LLC grew its stake in shares of Comcast by 4.7% in the third quarter. Abich Financial Wealth Management LLC now owns 5,829 shares of the cable giant's stock worth $243,000 after acquiring an additional 260 shares during the last quarter. Finally, Greenwich Wealth Management LLC grew its stake in shares of Comcast by 2.7% in the second quarter. Greenwich Wealth Management LLC now owns 9,754 shares of the cable giant's stock worth $382,000 after acquiring an additional 261 shares during the last quarter. Institutional investors own 84.32% of the company's stock.

Insider Activity at Comcast

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

Comcast Stock Up 1.2 %

NASDAQ CMCSA traded up $0.48 on Tuesday, reaching $39.53. 28,647,811 shares of the stock traded hands, compared to its average volume of 19,615,965. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72. The company has a fifty day moving average price of $42.42 and a 200-day moving average price of $40.31. The company has a market cap of $151.26 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 1.63 and a beta of 0.99. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The business 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 business posted $1.08 EPS. The business's revenue was up 6.5% compared to the same quarter last year. As a group, research analysts forecast that Comcast Co. will post 4.26 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Wednesday, January 8th. Comcast's payout ratio is currently 33.33%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CMCSA shares. TD Cowen lowered their target price on Comcast from $50.00 to $48.00 and set a "buy" rating on the stock in a report on Friday, November 1st. StockNews.com downgraded Comcast from a "strong-buy" rating to a "buy" rating in a report on Wednesday, December 4th. Rosenblatt Securities reissued a "neutral" rating and issued a $45.00 target price on shares of Comcast in a report on Wednesday, November 6th. Evercore ISI raised Comcast to a "strong-buy" rating in a research note on Thursday, November 21st. Finally, KeyCorp raised their price objective on Comcast from $44.00 to $47.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.19.

About Comcast

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.