Peapack Gladstone Financial Corp Sells 4,751 Shares of Comcast Co. (NASDAQ:CMCSA)

Peapack Gladstone Financial Corp cut its holdings in Comcast Co. (NASDAQ:CMCSA) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 274,087 shares of the cable giant’s stock after selling 4,751 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Comcast were worth $11,448,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB boosted its holdings in Comcast by 55,334.5% in the third quarter. Wilmington Savings Fund Society FSB now owns 8,273,052 shares of the cable giant’s stock worth $345,565,000 after purchasing an additional 8,258,128 shares during the last quarter. FMR LLC grew its holdings in shares of Comcast by 5.4% in the third quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock worth $4,904,647,000 after acquiring an additional 6,062,658 shares during the period. AQR Capital Management LLC lifted its holdings in Comcast by 92.1% in the second quarter. AQR Capital Management LLC now owns 8,722,620 shares of the cable giant’s stock valued at $339,223,000 after acquiring an additional 4,182,525 shares during the period. Public Sector Pension Investment Board boosted its position in Comcast by 530.5% in the third quarter. Public Sector Pension Investment Board now owns 3,429,298 shares of the cable giant’s stock worth $143,242,000 after purchasing an additional 2,885,370 shares during the last quarter. Finally, Darsana Capital Partners LP increased its position in shares of Comcast by 26.7% during the 2nd quarter. Darsana Capital Partners LP now owns 9,500,000 shares of the cable giant’s stock valued at $372,020,000 after purchasing an additional 2,000,000 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Insider Buying and Selling at Comcast

In related news, President Michael J. Cavanagh sold 25,537 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total value of $1,087,620.83. Following the completion of the transaction, the president now owns 534,849 shares of the company’s stock, valued at approximately $22,779,218.91. This trade represents a 4.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian L. Roberts sold 234,464 shares of Comcast stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the transaction, the chief executive officer now owns 6,669,928 shares of the company’s stock, valued at approximately $284,539,128.48. This represents a 3.40 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CMCSA shares. Seaport Res Ptn upgraded shares of Comcast from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Evercore ISI upgraded Comcast to a “strong-buy” rating in a research note on Thursday, November 21st. Benchmark reiterated a “buy” rating and set a $60.00 target price on shares of Comcast in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft raised their price objective on Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company boosted their price objective on Comcast from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.19.

Comcast Trading Down 0.8 %

Comcast stock opened at $39.92 on Friday. 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’s 50 day moving average price is $42.31 and its 200-day moving average price is $40.32. Comcast Co. has a 1 year low of $36.43 and a 1 year high of $47.11. The stock has a market cap of $152.76 billion, a P/E ratio of 10.73, a PEG ratio of 1.50 and a beta of 0.99.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, topping the consensus estimate of $1.06 by $0.06. The business had revenue of $32.07 billion for the quarter, compared to analysts’ expectations of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.08 EPS. On average, equities analysts predict that Comcast Co. will post 4.26 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company 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. This represents a $1.24 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Wednesday, January 8th. Comcast’s payout ratio is presently 33.33%.

Comcast Company 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.