SeaBridge Investment Advisors LLC Has $2.22 Million Position in Comcast Co. (NASDAQ:CMCSA)

SeaBridge Investment Advisors LLC decreased its holdings in Comcast Co. (NASDAQ:CMCSA) by 30.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 51,259 shares of the cable giant’s stock after selling 22,050 shares during the period. SeaBridge Investment Advisors LLC’s holdings in Comcast were worth $2,222,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CMCSA. Greenwich Wealth Management LLC boosted its stake in Comcast by 2.6% in the 4th quarter. Greenwich Wealth Management LLC now owns 8,492 shares of the cable giant’s stock worth $372,000 after purchasing an additional 219 shares during the period. Legend Financial Advisors Inc. boosted its position in shares of Comcast by 17.5% in the fourth quarter. Legend Financial Advisors Inc. now owns 1,478 shares of the cable giant’s stock valued at $65,000 after acquiring an additional 220 shares during the period. Beaumont Asset Management L.L.C. grew its stake in Comcast by 1.6% during the fourth quarter. Beaumont Asset Management L.L.C. now owns 14,141 shares of the cable giant’s stock valued at $620,000 after acquiring an additional 226 shares in the last quarter. Keystone Financial Services increased its holdings in Comcast by 1.1% during the 4th quarter. Keystone Financial Services now owns 20,432 shares of the cable giant’s stock worth $896,000 after acquiring an additional 229 shares during the period. Finally, Bollard Group LLC lifted its stake in Comcast by 0.7% in the 4th quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock worth $1,622,000 after purchasing an additional 244 shares in the last quarter. 84.32% of the stock is owned by institutional investors.

Insider Activity

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total value of $10,134,384.37. Following the completion of the sale, the insider now owns 2,000,000 shares in the company, valued at approximately $6,380,000. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.26% of the company’s stock.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of a number of recent analyst reports. Rosenblatt Securities restated a “neutral” rating and set a $45.00 price target on shares of Comcast in a research report on Friday, April 26th. Evercore ISI decreased their target price on Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday. Citigroup dropped their price target on Comcast from $53.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, April 29th. StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 22nd. Finally, BNP Paribas lowered shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 target price for the company. in a research report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Comcast presently has a consensus rating of “Hold” and an average price target of $48.53.

Comcast Trading Down 0.5 %

Shares of NASDAQ CMCSA traded down $0.19 during midday trading on Friday, reaching $37.86. The company had a trading volume of 12,172,204 shares, compared to its average volume of 20,439,701. The stock has a market cap of $148.55 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 0.95 and a beta of 1.00. Comcast Co. has a one year low of $36.43 and a one year high of $47.46. The firm’s fifty day moving average price is $38.58 and its 200-day moving average price is $41.23. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.06. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The firm had revenue of $30.06 billion during the quarter, compared to the consensus estimate of $29.83 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. On average, equities research analysts anticipate that Comcast Co. will post 4.22 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Wednesday, July 3rd. Comcast’s payout ratio is 32.80%.

Comcast 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.