Comcast Co. (NASDAQ:CMCSA) Shares Sold by Vestcor Inc

Vestcor Inc decreased its position in Comcast Co. (NASDAQ:CMCSA - Free Report) by 34.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 200,263 shares of the cable giant's stock after selling 106,078 shares during the period. Vestcor Inc's holdings in Comcast were worth $8,365,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Parnassus Investments LLC boosted its holdings in Comcast by 3.7% in the third quarter. Parnassus Investments LLC now owns 1,920,800 shares of the cable giant's stock valued at $80,232,000 after acquiring an additional 68,139 shares in the last quarter. Douglas Lane & Associates LLC boosted its holdings in shares of Comcast by 0.7% during the 3rd quarter. Douglas Lane & Associates LLC now owns 2,210,469 shares of the cable giant's stock valued at $92,331,000 after buying an additional 15,807 shares in the last quarter. Wulff Hansen & CO. boosted its holdings in shares of Comcast by 3,816.0% during the 2nd quarter. Wulff Hansen & CO. now owns 558,382 shares of the cable giant's stock valued at $21,866,000 after buying an additional 544,123 shares in the last quarter. Darsana Capital Partners LP raised its position in shares of Comcast by 26.7% in the 2nd quarter. Darsana Capital Partners LP now owns 9,500,000 shares of the cable giant's stock worth $372,020,000 after purchasing an additional 2,000,000 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new position in shares of Comcast in the 3rd quarter worth about $2,541,000. Institutional investors own 84.32% of the company's stock.

Insiders Place Their Bets

In related news, CEO Brian L. Roberts sold 234,464 shares of Comcast stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 6,669,928 shares of the company's stock, valued at $284,539,128.48. The trade was a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Michael J. Cavanagh sold 25,537 shares of Comcast stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total value of $1,087,620.83. Following the sale, the president now directly 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 disclosure for this sale can be found here. Corporate insiders own 1.26% of the company's stock.

Analysts Set New Price Targets

CMCSA has been the subject of a number of recent analyst reports. KeyCorp boosted their target price on Comcast from $44.00 to $47.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. Benchmark reissued a "buy" rating and issued a $60.00 target price on shares of Comcast in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Comcast from $49.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Evercore ISI raised shares of Comcast to a "strong-buy" rating in a research report on Thursday, November 21st. Finally, Pivotal Research upped their price target on shares of Comcast from $47.00 to $54.00 and gave the company a "buy" rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.19.

Comcast Stock Up 1.2 %

Shares of CMCSA traded up $0.48 during midday trading on Tuesday, reaching $39.53. 28,647,811 shares of the stock were exchanged, compared to its average volume of 19,615,965. Comcast Co. has a 52 week low of $36.43 and a 52 week 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. The company's 50 day moving average is $42.42 and its two-hundred day moving average is $40.31. The company has a market capitalization of $151.26 billion, a P/E ratio of 10.63, a PEG ratio of 1.63 and a beta of 0.99.

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 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 company had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. During the same quarter last year, the company earned $1.08 earnings per share. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Comcast Co. will post 4.26 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast's dividend payout ratio is presently 33.33%.

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.