M&T Bank Corp Sells 28,170 Shares of Comcast Corporation $CMCSA

M&T Bank Corp decreased its holdings in Comcast Corporation (NASDAQ:CMCSA) by 4.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 595,442 shares of the cable giant’s stock after selling 28,170 shares during the quarter. M&T Bank Corp’s holdings in Comcast were worth $17,798,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CMCSA. Vanguard Group Inc. lifted its stake in shares of Comcast by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock worth $11,038,712,000 after purchasing an additional 2,160,829 shares during the last quarter. State Street Corp grew its stake in Comcast by 4.6% in the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock valued at $5,677,190,000 after purchasing an additional 7,917,335 shares during the last quarter. Dodge & Cox raised its holdings in Comcast by 1.2% in the third quarter. Dodge & Cox now owns 112,567,918 shares of the cable giant’s stock worth $3,536,884,000 after purchasing an additional 1,295,598 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Comcast by 46.1% during the third quarter. Capital Research Global Investors now owns 33,706,330 shares of the cable giant’s stock valued at $1,059,053,000 after buying an additional 10,633,206 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Comcast by 2.9% during the third quarter. Legal & General Group Plc now owns 24,104,774 shares of the cable giant’s stock valued at $757,372,000 after buying an additional 686,520 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Trading Down 0.4%

Shares of Comcast stock opened at $27.07 on Tuesday. The firm’s 50 day simple moving average is $29.39 and its two-hundred day simple moving average is $28.99. The firm has a market capitalization of $96.70 billion, a price-to-earnings ratio of 5.33, a PEG ratio of 2.19 and a beta of 0.71. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $36.66. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. The firm had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 earnings per share. Analysts predict that Comcast Corporation will post 3.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CMCSA shares. Pivotal Research downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. The Goldman Sachs Group restated a “neutral” rating and issued a $29.00 target price on shares of Comcast in a research note on Thursday, April 23rd. Scotiabank lifted their price target on shares of Comcast from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. TD Cowen reduced their price target on Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Finally, Evercore increased their price objective on Comcast from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Eight investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $34.94.

Insider Buying and Selling at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total value of $1,892,549.02. Following the transaction, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. This represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.32% of the company’s stock.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.