Instinet lowered shares of Comcast (NASDAQ:CMCSA) from a buy rating to a neutral rating in a research report sent to investors on Thursday morning. They currently have $45.00 price target on the cable giant’s stock, up from their previous price target of $42.00.
A number of other equities research analysts have also recently weighed in on the company. Pivotal Research lifted their price objective on Comcast from $48.00 to $50.00 and gave the company a buy rating in a research note on Friday, October 27th. Barclays dropped their price objective on Comcast from $44.00 to $41.00 and set an overweight rating for the company in a research note on Friday, October 27th. Wells Fargo & Co reaffirmed a buy rating and issued a $49.00 price objective on shares of Comcast in a research note on Monday, October 23rd. Robert W. Baird reaffirmed a buy rating and issued a $43.00 price objective on shares of Comcast in a research note on Friday, November 17th. Finally, Morgan Stanley lifted their price objective on Comcast from $44.00 to $50.00 and gave the company an outperform rating in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-five have assigned a buy rating to the company. The company has an average rating of Buy and a consensus price target of $46.83.
Comcast (NASDAQ:CMCSA) traded up $0.65 during trading hours on Thursday, reaching $42.50. The company’s stock had a trading volume of 23,591,600 shares, compared to its average volume of 20,313,563. Comcast has a 12 month low of $34.78 and a 12 month high of $42.71. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a market capitalization of $200,040.00, a P/E ratio of 20.05, a P/E/G ratio of 1.84 and a beta of 1.00.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 3rd will be paid a dividend of $0.157 per share. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $0.63 annualized dividend and a yield of 1.48%. Comcast’s payout ratio is 29.72%.
In other Comcast news, EVP Arthur R. Block sold 3,937 shares of Comcast stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $40.62, for a total transaction of $159,920.94. Following the completion of the sale, the executive vice president now directly owns 65,946 shares of the company’s stock, valued at approximately $2,678,726.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Brian L. Roberts sold 583,835 shares of Comcast stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $38.67, for a total value of $22,576,899.45. Following the sale, the chairman now directly owns 1,711,798 shares of the company’s stock, valued at $66,195,228.66. The disclosure for this sale can be found here. Insiders have sold a total of 593,402 shares of company stock valued at $22,961,401 over the last three months. 1.28% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CMCSA. Vanguard Group Inc. lifted its holdings in shares of Comcast by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 316,845,966 shares of the cable giant’s stock valued at $12,331,646,000 after purchasing an additional 8,677,771 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Comcast by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 57,003,759 shares of the cable giant’s stock valued at $2,218,587,000 after purchasing an additional 680,012 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Comcast by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 53,054,928 shares of the cable giant’s stock valued at $2,041,312,000 after purchasing an additional 432,491 shares during the last quarter. Capital International Investors lifted its holdings in shares of Comcast by 23.3% in the 3rd quarter. Capital International Investors now owns 34,256,110 shares of the cable giant’s stock valued at $1,318,175,000 after purchasing an additional 6,467,802 shares during the last quarter. Finally, Veritas Asset Management LLP lifted its holdings in shares of Comcast by 3.7% in the 3rd quarter. Veritas Asset Management LLP now owns 33,195,373 shares of the cable giant’s stock valued at $1,277,358,000 after purchasing an additional 1,189,200 shares during the last quarter. 82.26% of the stock is owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: This report was originally posted by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://stocknewstimes.com/2018/01/22/comcast-cmcsa-lowered-to-neutral-at-instinet.html.
Comcast Company Profile
Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
Receive News & Ratings for Comcast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comcast and related companies with MarketBeat.com's FREE daily email newsletter.