Riverhead Capital Management LLC increased its stake in Comcast Co. (NASDAQ:CMCSA) by 18.1% during the third quarter, HoldingsChannel.com reports. The fund owned 230,822 shares of the cable giant’s stock after buying an additional 35,304 shares during the period. Riverhead Capital Management LLC’s holdings in Comcast were worth $8,173,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Comcast by 0.8% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 173,376 shares of the cable giant’s stock worth $6,139,000 after purchasing an additional 1,390 shares during the period. Boyar Asset Management Inc. raised its position in shares of Comcast by 1.3% during the third quarter. Boyar Asset Management Inc. now owns 107,169 shares of the cable giant’s stock worth $3,795,000 after purchasing an additional 1,393 shares during the period. Robecosam AG raised its position in shares of Comcast by 18.1% during the third quarter. Robecosam AG now owns 9,210 shares of the cable giant’s stock worth $324,000 after purchasing an additional 1,410 shares during the period. Aries Wealth Management raised its position in shares of Comcast by 11.6% during the second quarter. Aries Wealth Management now owns 14,395 shares of the cable giant’s stock worth $515,000 after purchasing an additional 1,500 shares during the period. Finally, Eagle Asset Management Inc. raised its position in shares of Comcast by 19.5% during the third quarter. Eagle Asset Management Inc. now owns 9,204 shares of the cable giant’s stock worth $325,000 after purchasing an additional 1,503 shares during the period. 79.99% of the stock is currently owned by institutional investors.
Shares of NASDAQ:CMCSA opened at $37.69 on Thursday. The firm has a market capitalization of $175.05 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Comcast Co. has a 1 year low of $30.43 and a 1 year high of $44.00.
Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, October 25th. The cable giant reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. The firm had revenue of $22.14 billion during the quarter, compared to the consensus estimate of $21.75 billion. Comcast had a return on equity of 15.79% and a net margin of 27.33%. On average, equities analysts forecast that Comcast Co. will post 2.54 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 23rd. Stockholders of record on Wednesday, January 2nd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 2.02%. Comcast’s payout ratio is 36.89%.
CMCSA has been the subject of several recent research reports. Pivotal Research reiterated a “buy” rating on shares of Comcast in a report on Friday, August 10th. BidaskClub downgraded Comcast from a “strong-buy” rating to a “buy” rating in a report on Wednesday. MED initiated coverage on Comcast in a report on Wednesday, October 24th. They set a “buy” rating and a $43.00 price target for the company. They noted that the move was a valuation call. Moffett Nathanson reiterated a “neutral” rating and set a $36.00 price target on shares of Comcast in a report on Monday, September 24th. Finally, Goldman Sachs Group reiterated a “neutral” rating and set a $38.00 price target on shares of Comcast in a report on Monday, October 22nd. Nine analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Comcast presently has an average rating of “Buy” and an average target price of $44.61.
In other news, EVP Arthur R. Block sold 1,082 shares of the stock in a transaction on Monday, September 24th. The stock was sold at an average price of $35.94, for a total transaction of $38,887.08. Following the completion of the transaction, the executive vice president now owns 62,476 shares in the company, valued at approximately $2,245,387.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Arthur R. Block sold 6,448 shares of the stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $35.48, for a total value of $228,775.04. Following the transaction, the executive vice president now owns 74,644 shares of the company’s stock, valued at approximately $2,648,369.12. The disclosure for this sale can be found here. 1.31% of the stock is currently owned by corporate insiders.
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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.
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