Chesley Taft & Associates LLC cut its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 4.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,005 shares of the cable giant’s stock after selling 1,975 shares during the period. Chesley Taft & Associates LLC’s holdings in Comcast were worth $1,452,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Busey Trust CO increased its position in shares of Comcast by 25.4% in the 3rd quarter. Busey Trust CO now owns 300,720 shares of the cable giant’s stock valued at $10,648,000 after acquiring an additional 60,915 shares during the period. Rathbone Brothers plc increased its position in shares of Comcast by 117.0% in the 3rd quarter. Rathbone Brothers plc now owns 65,211 shares of the cable giant’s stock valued at $2,309,000 after acquiring an additional 35,155 shares during the period. Bridge Creek Capital Management LLC increased its position in shares of Comcast by 2.7% in the 3rd quarter. Bridge Creek Capital Management LLC now owns 101,381 shares of the cable giant’s stock valued at $3,589,000 after acquiring an additional 2,675 shares during the period. DAVENPORT & Co LLC increased its position in shares of Comcast by 1.2% in the 3rd quarter. DAVENPORT & Co LLC now owns 1,161,288 shares of the cable giant’s stock valued at $41,121,000 after acquiring an additional 14,126 shares during the period. Finally, KAMES CAPITAL plc acquired a new position in shares of Comcast in the 3rd quarter valued at $355,000. 80.15% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:CMCSA opened at $34.62 on Friday. Comcast Co. has a one year low of $30.43 and a one year high of $44.00. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $164.46 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 1.12 and a beta of 1.19.
Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 26th. The cable giant reported $0.65 EPS for the quarter, beating the consensus estimate of $0.61 by $0.04. Comcast had a net margin of 27.42% and a return on equity of 15.92%. The company had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.85 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. Sell-side analysts anticipate that Comcast Co. will post 2.53 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 24th. Stockholders of record on Wednesday, October 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, October 2nd. Comcast’s payout ratio is currently 36.89%.
In other news, EVP Arthur R. Block sold 1,082 shares of the stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $35.94, for a total transaction of $38,887.08. Following the sale, the executive vice president now directly owns 62,476 shares of the company’s stock, valued at approximately $2,245,387.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Arthur R. Block sold 6,448 shares of the stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $35.48, for a total transaction of $228,775.04. Following the sale, the executive vice president now directly owns 74,644 shares in the company, valued at $2,648,369.12. The disclosure for this sale can be found here. Corporate insiders own 1.31% of the company’s stock.
CMCSA has been the topic of several research reports. ValuEngine raised Comcast from a “strong sell” rating to a “sell” rating in a research report on Monday, September 17th. JPMorgan Chase & Co. initiated coverage on Comcast in a research report on Friday. They issued an “overweight” rating on the stock. UBS Group downgraded Comcast from an “outperform” rating to a “market perform” rating in a research report on Monday, September 24th. Moffett Nathanson reissued a “neutral” rating and issued a $36.00 target price on shares of Comcast in a research report on Monday, September 24th. Finally, KeyCorp upped their target price on Comcast from $38.00 to $43.00 and gave the company an “overweight” rating in a research report on Wednesday, September 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $44.96.
Comcast Company Profile
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.
Further Reading: Treasury Bonds
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