Comcast Co. (NASDAQ:CMCSA – Get Rating) announced a quarterly dividend on Thursday, May 12th, Wall Street Journal reports. Stockholders of record on Wednesday, July 6th will be paid a dividend of 0.27 per share by the cable giant on Wednesday, July 27th. This represents a $1.08 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Tuesday, July 5th.
Comcast has raised its dividend payment by an average of 9.6% per year over the last three years and has increased its dividend every year for the last 16 years. Comcast has a dividend payout ratio of 26.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Comcast to earn $3.96 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 27.3%.
Shares of CMCSA stock opened at $41.39 on Friday. The company has a market capitalization of $187.63 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 0.86 and a beta of 0.97. Comcast has a one year low of $39.47 and a one year high of $61.80. The company’s fifty day moving average price is $45.38 and its 200-day moving average price is $48.46. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.86 and a quick ratio of 0.86.
Several analysts have recently issued reports on the stock. Oppenheimer decreased their target price on shares of Comcast from $75.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, April 14th. Royal Bank of Canada raised shares of Comcast from a “sector perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a research report on Monday, January 24th. Truist Financial lowered shares of Comcast from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $70.00 to $50.00 in a research report on Tuesday, March 1st. Cowen increased their price objective on shares of Comcast from $60.00 to $64.00 in a research report on Friday, January 28th. Finally, StockNews.com upgraded shares of Comcast from a “buy” rating to a “strong-buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $59.46.
In related news, CEO David N. Watson sold 65,410 shares of the firm’s stock in a transaction on Friday, March 11th. The shares were sold at an average price of $45.69, for a total transaction of $2,988,582.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.35% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Ironwood Wealth Management LLC. raised its holdings in shares of Comcast by 2.4% during the first quarter. Ironwood Wealth Management LLC. now owns 15,458 shares of the cable giant’s stock worth $724,000 after purchasing an additional 363 shares during the last quarter. Weiss Multi Strategy Advisers LLC acquired a new stake in Comcast during the fourth quarter valued at $4,334,000. Virtu Financial LLC acquired a new stake in Comcast during the fourth quarter valued at $475,000. First Community Trust NA acquired a new stake in shares of Comcast in the fourth quarter valued at about $101,000. Finally, Toroso Investments LLC grew its position in shares of Comcast by 19.3% in the fourth quarter. Toroso Investments LLC now owns 121,303 shares of the cable giant’s stock valued at $6,105,000 after purchasing an additional 19,617 shares during the period. 83.33% of the stock is owned by hedge funds and other institutional investors.
Comcast Company Profile (Get Rating)
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.
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