Atlantic Union Bankshares Corp Reduces Stake in Comcast Co. (NASDAQ:CMCSA)

Atlantic Union Bankshares Corp lessened its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 25.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,238 shares of the cable giant’s stock after selling 7,490 shares during the period. Atlantic Union Bankshares Corp’s holdings in Comcast were worth $929,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Fairscale Capital LLC acquired a new stake in Comcast during the second quarter worth $26,000. Strategic Financial Concepts LLC acquired a new stake in shares of Comcast during the 2nd quarter worth about $27,000. IAG Wealth Partners LLC raised its holdings in Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after buying an additional 522 shares during the period. McClarren Financial Advisors Inc. lifted its position in Comcast by 365.4% in the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after buying an additional 570 shares during the last quarter. Finally, Archer Investment Corp boosted its stake in Comcast by 177.1% during the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after buying an additional 519 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Insider Activity at Comcast

In related news, CEO Brian L. Roberts sold 234,464 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the sale, the chief executive officer now owns 6,669,928 shares in the company, valued at $284,539,128.48. This represents a 3.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael J. Cavanagh sold 25,537 shares of the stock in a transaction dated Tuesday, November 26th. The stock was 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 disclosure for this sale can be found here. 1.26% of the stock is owned by corporate insiders.

Comcast Stock Performance

NASDAQ:CMCSA opened at $43.19 on Friday. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $165.27 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 1.61 and a beta of 1.00. The business’s fifty day moving average price is $42.29 and its 200 day moving average price is $40.17.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.08 EPS. On average, sell-side analysts anticipate that Comcast Co. will post 4.26 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 annualized dividend and a yield of 2.87%. Comcast’s dividend payout ratio is currently 33.33%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Macquarie upped their price objective on shares of Comcast from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, November 18th. Benchmark restated a “buy” rating and set a $60.00 price target on shares of Comcast in a research note on Tuesday, November 19th. KeyCorp lifted their price objective on Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their target price on Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Scotiabank raised Comcast from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $47.75 to $48.00 in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Comcast has a consensus rating of “Moderate Buy” and an average target price of $47.19.

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.