Sanford C. Bernstein Cuts Comcast (NASDAQ:CMCSA) Price Target to $34.00

Comcast (NASDAQ:CMCSA) had its target price trimmed by Sanford C. Bernstein from $36.00 to $34.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a market perform rating on the cable giant’s stock.

CMCSA has been the topic of several other reports. Citigroup decreased their price objective on shares of Comcast from $39.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday. Moffett Nathanson upped their price objective on shares of Comcast from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Benchmark decreased their price objective on shares of Comcast from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday. Morgan Stanley decreased their price objective on shares of Comcast from $35.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Bank of America decreased their price objective on shares of Comcast from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, September 29th. Eleven research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $36.74.

Comcast Trading Up 1.9%

Shares of CMCSA opened at $27.83 on Friday. The business’s 50-day moving average price is $31.40 and its 200-day moving average price is $33.32. Comcast has a twelve month low of $25.75 and a twelve month high of $45.31. The stock has a market cap of $102.75 billion, a PE ratio of 4.63, a P/E/G ratio of 1.89 and a beta of 0.94. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. The firm had revenue of $30.34 billion for the quarter. Comcast had a return on equity of 18.06% and a net margin of 18.33%. On average, equities analysts forecast that Comcast will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 14th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, January 14th. This represents a $1.32 annualized dividend and a dividend yield of 4.7%. Comcast’s dividend payout ratio (DPR) is currently 21.96%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CMCSA. Brighton Jones LLC grew its holdings in shares of Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock worth $6,240,000 after purchasing an additional 99,986 shares during the last quarter. Mutual Advisors LLC increased its stake in shares of Comcast by 10.0% during the first quarter. Mutual Advisors LLC now owns 47,069 shares of the cable giant’s stock valued at $1,596,000 after buying an additional 4,260 shares during the period. North Capital Inc. bought a new stake in Comcast in the first quarter valued at $69,000. Davidson Trust Co. boosted its holdings in Comcast by 7.8% in the first quarter. Davidson Trust Co. now owns 8,462 shares of the cable giant’s stock valued at $312,000 after acquiring an additional 611 shares in the last quarter. Finally, Conning Inc. boosted its holdings in Comcast by 11.1% in the first quarter. Conning Inc. now owns 1,006,310 shares of the cable giant’s stock valued at $37,133,000 after acquiring an additional 100,435 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

About Comcast

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.