Private Management Group Inc. trimmed its position in Comcast Co. (NASDAQ:CMCSA) by 11.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 19,684 shares of the cable giant’s stock after selling 2,500 shares during the period. Private Management Group Inc.’s holdings in Comcast were worth $757,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Clear Perspective Advisors LLC lifted its stake in shares of Comcast by 100.1% during the 2nd quarter. Clear Perspective Advisors LLC now owns 2,722 shares of the cable giant’s stock valued at $106,000 after buying an additional 1,362 shares in the last quarter. MPS Loria Financial Planners LLC purchased a new stake in Comcast in the 2nd quarter worth approximately $107,000. First Bank & Trust lifted its stake in Comcast by 84.9% in the 2nd quarter. First Bank & Trust now owns 2,836 shares of the cable giant’s stock worth $111,000 after purchasing an additional 1,302 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new stake in Comcast in the 2nd quarter worth approximately $165,000. Finally, Shine Investment Advisory Services Inc. bought a new position in shares of Comcast in the 2nd quarter worth $168,000. 82.33% of the stock is owned by institutional investors and hedge funds.
Shares of Comcast Co. (CMCSA) traded down $0.78 during mid-day trading on Friday, hitting $41.11. 30,288,374 shares of the stock were exchanged, compared to its average volume of 21,600,000. Comcast Co. has a 52-week low of $34.78 and a 52-week high of $44.00. The company has a market capitalization of $192,140.00, a price-to-earnings ratio of 8.60, a PEG ratio of 1.58 and a beta of 1.04. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.74 and a quick ratio of 0.74.
Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Wednesday, January 24th. The cable giant reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The firm had revenue of $21.92 billion during the quarter, compared to analyst estimates of $21.83 billion. Comcast had a net margin of 26.87% and a return on equity of 16.47%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.89 earnings per share. sell-side analysts forecast that Comcast Co. will post 2.46 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Wednesday, April 4th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Tuesday, April 3rd. This is an increase from Comcast’s previous quarterly dividend of $0.16. Comcast’s payout ratio is 13.18%.
A number of equities analysts have recently commented on the stock. Macquarie reissued a “buy” rating and issued a $40.00 price target on shares of Comcast in a report on Thursday, December 7th. Pivotal Research reaffirmed a “buy” rating and set a $52.00 target price on shares of Comcast in a report on Wednesday, January 24th. SunTrust Banks increased their target price on shares of Comcast to $50.00 and gave the company a “buy” rating in a report on Thursday, January 25th. OTR Global lowered shares of Comcast to a “positive” rating in a report on Monday, October 30th. Finally, Barclays cut their price target on shares of Comcast from $44.00 to $41.00 and set an “overweight” rating on the stock in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. Comcast currently has a consensus rating of “Buy” and an average price target of $47.74.
In other Comcast news, Chairman Brian L. Roberts sold 583,835 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $38.67, for a total transaction of $22,576,899.45. Following the transaction, the chairman now owns 1,711,798 shares in the company, valued at $66,195,228.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stephen B. Burke sold 190,756 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $42.51, for a total transaction of $8,109,037.56. Following the transaction, the executive vice president now owns 1,214,811 shares in the company, valued at approximately $51,641,615.61. The disclosure for this sale can be found here. Insiders sold 784,158 shares of company stock worth $31,070,439 in the last three months. Insiders own 1.28% of the company’s stock.
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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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