Sei Investments Co. raised its position in Comcast Co. (NASDAQ:CMCSA) by 10.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,276,597 shares of the cable giant’s stock after purchasing an additional 115,771 shares during the quarter. Sei Investments Co.’s holdings in Comcast were worth $68,674,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bogart Wealth LLC boosted its stake in shares of Comcast by 274.7% during the 1st quarter. Bogart Wealth LLC now owns 562 shares of the cable giant’s stock worth $30,000 after acquiring an additional 412 shares in the last quarter. Lumature Wealth Partners LLC bought a new stake in shares of Comcast during the 1st quarter worth about $31,000. Sterling Financial Planning Inc. bought a new stake in shares of Comcast during the 4th quarter worth about $32,000. ADE LLC bought a new stake in shares of Comcast during the 4th quarter worth about $37,000. Finally, Retirement Group LLC boosted its stake in shares of Comcast by 240.3% during the 1st quarter. Retirement Group LLC now owns 684 shares of the cable giant’s stock worth $37,000 after acquiring an additional 483 shares in the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.
Several research firms have recently issued reports on CMCSA. Pivotal Research upped their price target on Comcast from $65.00 to $70.00 in a research note on Friday, April 30th. Wells Fargo & Company initiated coverage on Comcast in a research note on Tuesday, March 16th. They set an “underweight” rating and a $48.00 target price for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their target price on Comcast from $59.00 to $62.00 in a research note on Friday, April 9th. Evercore ISI increased their target price on Comcast from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, May 3rd. Finally, Oppenheimer upgraded Comcast from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Friday, April 30th. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $61.86.
Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, April 29th. The cable giant reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.17. Comcast had a return on equity of 13.75% and a net margin of 11.25%. The business had revenue of $27.21 billion during the quarter, compared to analysts’ expectations of $26.83 billion. During the same period in the prior year, the firm posted $0.77 EPS. Comcast’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, analysts anticipate that Comcast Co. will post 2.99 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 28th. Investors of record on Wednesday, July 7th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, July 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.77%. Comcast’s dividend payout ratio (DPR) is presently 38.31%.
In related news, Director Kenneth J. Bacon sold 3,966 shares of the stock in a transaction that occurred on Monday, May 10th. The stock was sold at an average price of $58.83, for a total transaction of $233,319.78. Following the sale, the director now directly owns 33,611 shares in the company, valued at approximately $1,977,335.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth J. Bacon sold 4,031 shares of the stock in a transaction that occurred on Friday, June 4th. The stock was sold at an average price of $56.89, for a total value of $229,323.59. Following the sale, the director now owns 29,580 shares in the company, valued at $1,682,806.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 717,670 shares of company stock worth $39,636,593. 1.04% of the stock is owned by corporate insiders.
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, as well as sells advertising.
See Also: Dividend Reinvestment Plan (DRIP)
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