Legg Mason Asset Management Japan Co. Ltd. bought a new position in Comcast Corporation (NASDAQ:CMCSA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 18,200 shares of the cable giant’s stock, valued at approximately $709,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Biegel & Waller LLC purchased a new position in shares of Comcast in the second quarter worth $432,000. Penobscot Investment Management Company Inc. increased its stake in shares of Comcast by 3.0% in the second quarter. Penobscot Investment Management Company Inc. now owns 98,387 shares of the cable giant’s stock worth $3,829,000 after buying an additional 2,828 shares during the period. WINTON GROUP Ltd increased its stake in shares of Comcast by 573.3% in the first quarter. WINTON GROUP Ltd now owns 219,526 shares of the cable giant’s stock worth $14,563,000 after buying an additional 186,920 shares during the period. Artisan Partners Limited Partnership increased its stake in shares of Comcast by 100.9% in the first quarter. Artisan Partners Limited Partnership now owns 899,227 shares of the cable giant’s stock worth $33,802,000 after buying an additional 451,551 shares during the period. Finally, Tower Bridge Advisors increased its stake in shares of Comcast by 10.1% in the second quarter. Tower Bridge Advisors now owns 142,129 shares of the cable giant’s stock worth $5,532,000 after buying an additional 13,003 shares during the period. 82.50% of the stock is currently owned by institutional investors.
A number of research analysts have issued reports on CMCSA shares. Nomura reduced their price objective on shares of Comcast from $46.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, October 27th. KeyCorp reissued a “neutral” rating on shares of Comcast in a research report on Sunday, September 17th. Royal Bank Of Canada reissued a “buy” rating and set a $45.00 price objective on shares of Comcast in a research report on Wednesday, October 18th. UBS reissued an “overweight” rating on shares of Comcast in a research report on Thursday, August 24th. Finally, Robert W. Baird reissued a “buy” rating and set a $43.00 price objective on shares of Comcast in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. Comcast presently has an average rating of “Buy” and an average target price of $45.72.
In related news, Director Kenneth J. Bacon sold 2,232 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $37.27, for a total value of $83,186.64. Following the transaction, the director now owns 24,580 shares in the company, valued at approximately $916,096.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Arthur R. Block sold 4,091 shares of the company’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $38.36, for a total transaction of $156,930.76. Following the completion of the transaction, the executive vice president now owns 68,478 shares in the company, valued at approximately $2,626,816.08. The disclosure for this sale can be found here. Insiders own 1.28% of the company’s stock.
Shares of Comcast Corporation (CMCSA) opened at $37.95 on Friday. Comcast Corporation has a fifty-two week low of $34.12 and a fifty-two week high of $42.18. The company has a market cap of $177,089.19, a price-to-earnings ratio of 18.80, a PEG ratio of 1.81 and a beta of 1.01. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.06.
Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 26th. The cable giant reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.03. Comcast had a net margin of 11.99% and a return on equity of 17.17%. The firm had revenue of $20.98 billion for the quarter, compared to analysts’ expectations of $21.05 billion. During the same quarter in the previous year, the business posted $0.92 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. sell-side analysts forecast that Comcast Corporation will post 2.06 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 3rd will be issued a dividend of $0.157 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Tuesday, January 2nd. Comcast’s dividend payout ratio (DPR) is presently 30.36%.
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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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