Princeton Global Asset Management LLC grew its holdings in Comcast Co. (NASDAQ:CMCSA) by 4.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 50,106 shares of the cable giant’s stock after buying an additional 1,937 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Comcast were worth $2,626,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Arlington Partners LLC purchased a new position in Comcast during the fourth quarter worth about $30,000. McCarthy Asset Management Inc. purchased a new position in Comcast during the fourth quarter worth about $34,000. Planned Solutions Inc. purchased a new position in Comcast during the third quarter worth about $32,000. Accel Wealth Management purchased a new position in Comcast during the fourth quarter worth about $38,000. Finally, NewSquare Capital LLC boosted its stake in Comcast by 39.8% during the fourth quarter. NewSquare Capital LLC now owns 808 shares of the cable giant’s stock worth $42,000 after buying an additional 230 shares during the period. Institutional investors and hedge funds own 82.56% of the company’s stock.
In related news, Director Maritza Gomez Montiel sold 2,000 shares of Comcast stock in a transaction on Thursday, January 28th. The shares were sold at an average price of $49.97, for a total value of $99,940.00. Following the transaction, the director now directly owns 13,170 shares in the company, valued at approximately $658,104.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeff Shell sold 5,582 shares of Comcast stock in a transaction on Wednesday, December 2nd. The shares were sold at an average price of $51.23, for a total transaction of $285,965.86. Following the completion of the transaction, the chief executive officer now owns 348,167 shares in the company, valued at $17,836,595.41. The disclosure for this sale can be found here. Company insiders own 1.14% of the company’s stock.
Shares of CMCSA traded down $0.19 during mid-day trading on Tuesday, reaching $52.31. 864,309 shares of the company’s stock were exchanged, compared to its average volume of 18,096,334. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $239.61 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 1.69 and a beta of 0.99. The business’s fifty day simple moving average is $50.79 and its 200-day simple moving average is $47.78. Comcast Co. has a 52-week low of $31.70 and a 52-week high of $53.60.
Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, January 28th. The cable giant reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The business had revenue of $27.71 billion for the quarter, compared to analyst estimates of $26.79 billion. Comcast had a net margin of 9.90% and a return on equity of 15.45%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. Equities research analysts predict that Comcast Co. will post 2.54 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 28th. Stockholders of record on Wednesday, April 7th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, April 6th. This is a positive change from Comcast’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.91%. Comcast’s dividend payout ratio (DPR) is 29.39%.
Several analysts have recently issued reports on CMCSA shares. Benchmark increased their price target on shares of Comcast from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, February 9th. They noted that the move was a valuation call. Barclays increased their price target on shares of Comcast from $53.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, February 1st. Citigroup raised their target price on shares of Comcast from $54.00 to $59.00 in a report on Friday, January 29th. Cowen raised shares of Comcast from a “market perform” rating to an “outperform” rating and raised their target price for the company from $56.00 to $60.00 in a report on Wednesday, February 3rd. Finally, Macquarie raised their target price on shares of Comcast from $53.00 to $58.00 in a report on Thursday, January 14th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $53.85.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, wireless, and security and automation services to residential and business customers under the Xfinity brand; and advertising services.
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