West Family Investments Inc. lessened its holdings in shares of Comcast Corporation (NASDAQ:CMCSA) by 50.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,000 shares of the cable giant’s stock after selling 60,000 shares during the quarter. Comcast Corporation accounts for about 0.9% of West Family Investments Inc.’s investment portfolio, making the stock its 27th largest holding. West Family Investments Inc.’s holdings in Comcast Corporation were worth $3,911,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp grew its position in Comcast Corporation by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 57,003,759 shares of the cable giant’s stock valued at $2,218,587,000 after acquiring an additional 680,012 shares in the last quarter. Alps Advisors Inc. grew its position in shares of Comcast Corporation by 66.8% during the second quarter. Alps Advisors Inc. now owns 23,587 shares of the cable giant’s stock worth $918,000 after buying an additional 9,446 shares in the last quarter. Horan Capital Advisors LLC. grew its position in shares of Comcast Corporation by 1.2% during the second quarter. Horan Capital Advisors LLC. now owns 85,105 shares of the cable giant’s stock worth $3,312,000 after buying an additional 977 shares in the last quarter. Northpointe Capital LLC acquired a new stake in shares of Comcast Corporation during the second quarter worth approximately $2,264,000. Finally, State of Wisconsin Investment Board grew its position in shares of Comcast Corporation by 17.9% during the second quarter. State of Wisconsin Investment Board now owns 6,148,948 shares of the cable giant’s stock worth $239,317,000 after buying an additional 931,910 shares in the last quarter. 81.82% of the stock is owned by hedge funds and other institutional investors.
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In other news, Director Kenneth J. Bacon sold 2,232 shares of Comcast Corporation stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $37.27, for a total transaction of $83,186.64. Following the completion of the transaction, the director now directly owns 24,580 shares in the company, valued at $916,096.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Arthur R. Block sold 4,091 shares of Comcast Corporation stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $38.36, for a total transaction of $156,930.76. Following the transaction, the executive vice president now owns 68,478 shares of the company’s stock, valued at $2,626,816.08. The disclosure for this sale can be found here. Insiders sold 9,982 shares of company stock valued at $385,050 over the last 90 days. 1.28% of the stock is currently owned by company insiders.
Shares of Comcast Corporation (NASDAQ CMCSA) opened at 36.79 on Friday. The company has a market capitalization of $173.40 billion, a PE ratio of 18.53 and a beta of 0.98. Comcast Corporation has a 52-week low of $30.02 and a 52-week high of $42.18. The stock’s 50 day moving average price is $37.60 and its 200-day moving average price is $39.17.
Comcast Corporation (NASDAQ:CMCSA) last posted its earnings results on Thursday, October 26th. The cable giant reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.03. The company had revenue of $20.98 billion during the quarter, compared to analyst estimates of $21.05 billion. Comcast Corporation had a net margin of 11.99% and a return on equity of 17.17%. Comcast Corporation’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share. On average, analysts expect that Comcast Corporation will post $2.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 3rd will be issued a $0.157 dividend. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $0.63 annualized dividend and a yield of 1.71%. Comcast Corporation’s dividend payout ratio (DPR) is presently 30.36%.
CMCSA has been the topic of several research analyst reports. Bank of America Corporation raised their target price on Comcast Corporation from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, June 30th. Morgan Stanley restated an “overweight” rating and set a $44.00 price objective (up from $43.00) on shares of Comcast Corporation in a research note on Thursday, July 6th. Jefferies Group LLC restated a “buy” rating and set a $47.00 price objective on shares of Comcast Corporation in a research note on Friday, July 7th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $45.00 target price on shares of Comcast Corporation in a report on Sunday, July 9th. Finally, TD Securities began coverage on Comcast Corporation in a report on Thursday, July 13th. They set a “buy” rating and a $51.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Comcast Corporation has an average rating of “Buy” and an average price target of $45.84.
Comcast Corporation Company Profile
Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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