M&T Bank Corp Trims Stake in Comcast Corporation $CMCSA

M&T Bank Corp lessened its stake in Comcast Corporation (NASDAQ:CMCSA) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 723,463 shares of the cable giant’s stock after selling 21,434 shares during the period. M&T Bank Corp’s holdings in Comcast were worth $25,821,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Comcast in the second quarter valued at $3,528,361,000. Nuveen LLC acquired a new stake in Comcast in the 1st quarter valued at $940,015,000. Dodge & Cox increased its holdings in Comcast by 19.1% in the 1st quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant’s stock worth $3,476,635,000 after acquiring an additional 15,115,074 shares in the last quarter. Acadian Asset Management LLC raised its position in Comcast by 119.1% during the first quarter. Acadian Asset Management LLC now owns 7,595,322 shares of the cable giant’s stock worth $280,238,000 after acquiring an additional 4,128,434 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Comcast by 76.6% during the first quarter. The Manufacturers Life Insurance Company now owns 9,440,738 shares of the cable giant’s stock valued at $348,363,000 after purchasing an additional 4,096,382 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Price Performance

Shares of CMCSA opened at $27.02 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. Comcast Corporation has a fifty-two week low of $25.75 and a fifty-two week high of $43.45. The company has a market cap of $98.46 billion, a P/E ratio of 4.50, a PEG ratio of 1.82 and a beta of 0.83. The firm’s 50 day moving average price is $28.74 and its 200 day moving average price is $32.21.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Monday, March 13th. The cable giant reported $0.77 EPS for the quarter. The business had revenue of $30.34 billion during the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. On average, research analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 14th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Wednesday, January 14th. Comcast’s dividend payout ratio is presently 21.96%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CMCSA shares. Citigroup reduced their price target on shares of Comcast from $39.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Scotiabank decreased their target price on Comcast from $45.50 to $41.50 and set a “sector perform” rating on the stock in a research report on Friday, October 31st. KeyCorp cut Comcast from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 30th. Evercore ISI decreased their price objective on Comcast from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Finally, UBS Group set a $34.00 target price on shares of Comcast in a report on Friday, October 31st. Eleven analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $35.82.

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.