Glenview Trust Co. Reduces Its Holdings in Comcast Co.

Glenview Trust Co. has reduced its stake in Comcast Co. (NASDAQ:CMCSA) by 24.7% during the fourth quarter, as indicated by their latest filing with the SEC. After selling 66,063 shares in the period, the institutional investor now holds 201,628 shares of the cable giant's stock, amounting to a value of $7,567,000 at the end of the quarter.

In addition to Glenview Trust Co., several other large investors have adjusted their holdings in Comcast. For instance, World Investment Advisors LLC raised its stake in Comcast shares by a massive 904.0% during the third quarter, now owning 254,545 shares valued at $10,632,000 after purchasing an additional 229,192 shares. Moreover, Raymond James Financial Inc. entered a new position in Comcast valued at $743,681,000 in the fourth quarter. Bfsg LLC also significantly boosted its holdings by 752.8% during the same period, increasing their ownership to 83,366 shares worth $3,129,000. Similarly, Mission Wealth Management LP enhanced its position by 8.3%, acquiring an additional 3,344 shares to own 43,509 shares valued at $1,633,000. Lastly, Robinson Value Management Ltd. grew its stake by 136.7%, acquiring 59,107 shares to now own 102,360 shares valued at $3,842,000. It's worth noting that hedge funds and other institutional investors now hold 84.32% of the company's stock.

Analyst Insights on Comcast Stock

Several analysts have recently evaluated Comcast's stock. The Goldman Sachs Group downgraded their target price for Comcast shares from $50.00 to $44.00 while maintaining a "buy" rating on the stock. Similarly, Scotiabank downgraded Comcast from a "sector outperform" rating to a "sector perform" rating, adjusting their price target from $48.00 to $44.50. Conversely, Seaport Res Ptn upgraded Comcast from a "hold" rating to a "strong-buy" in a report released earlier. JPMorgan Chase & Co. also lowered their price target from $45.00 to $39.00, assigning a "neutral" rating to the stock. Benchmark similarly reduced their target price from $57.00 to $55.00, while still rating the stock as a "buy." Currently, nine analysts have given Comcast a hold rating, nine have rated it as a buy, and three have issued a strong buy rating, leading to an average rating of "Moderate Buy" with a target price of $43.83, according to data from MarketBeat.

Comcast's Stock Performance

The stock of Comcast (NASDAQ:CMCSA) opened at $35.43. Over the past year, shares of Comcast have reached a low of $32.50 and a high of $45.31. The company’s 50-day moving average price stands at $35.92, while the 200-day moving average price is $39.19. Comcast holds a debt-to-equity ratio of 1.09 and both a quick ratio and current ratio of 0.68. With a market capitalization of $133.96 billion, Comcast has a price-to-earnings ratio of 8.54 and a PEG ratio of 1.78 along with a beta of 1.00.

Comcast Reports Earnings and Dividend Increase

On January 30th, Comcast announced its quarterly earnings, reporting earnings per share (EPS) of $0.96, exceeding analysts' expectations of $0.88 by $0.08. The company also posted a net margin of 13.09% and a return on equity of 19.98%. Market analysts predict that Comcast will report an EPS of 4.33 for the current fiscal year.

Comcast recently revealed plans to increase its quarterly dividend, which is set to be paid on April 23rd. Shareholders on record by April 2nd will receive a dividend of $0.33 per share, up from the previous dividend of $0.31. This new dividend equates to an annualized dividend of $1.32 and represents a yield of 3.73%. The payout ratio for the dividend stands at 31.81%.

About Comcast Corporation

Comcast Corporation operates globally as a media and technology company. The company functions through various segments including Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks. The Residential Connectivity & Platforms segment offers residential broadband and wireless connectivity services, as well as residential and business video services, and advertising.

For investors considering Comcast, it is essential to evaluate both the positive and negative views surrounding the stock, as analyst recommendations vary.

Glenview, Comcast, investment