Conning Inc. raised its position in shares of Comcast Corp. (NASDAQ:CMCSA) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,099 shares of the cable giant’s stock after buying an additional 330 shares during the period. Conning Inc.’s holdings in Comcast Corp. were worth $4,896,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new position in shares of Comcast Corp. during the second quarter worth about $446,948,000. Wellington Management Group LLP boosted its position in shares of Comcast Corp. by 9.5% in the first quarter. Wellington Management Group LLP now owns 54,138,081 shares of the cable giant’s stock worth $3,306,753,000 after buying an additional 4,682,432 shares during the period. Bessemer Group Inc. boosted its position in shares of Comcast Corp. by 6,562.5% in the first quarter. Bessemer Group Inc. now owns 4,160,780 shares of the cable giant’s stock worth $254,140,000 after buying an additional 4,098,329 shares during the period. 1832 Asset Management L.P. boosted its position in shares of Comcast Corp. by 25.9% in the first quarter. 1832 Asset Management L.P. now owns 6,274,405 shares of the cable giant’s stock worth $635,483,000 after buying an additional 1,291,270 shares during the period. Finally, NN Investment Partners Holdings N.V. purchased a new position in shares of Comcast Corp. during the first quarter worth about $60,035,000. Institutional investors own 82.22% of the company’s stock.
Comcast Corp. (NASDAQ:CMCSA) traded up 0.77% during trading on Wednesday, reaching $66.68. 7,806,127 shares of the company traded hands. The firm has a market capitalization of $160.82 billion, a price-to-earnings ratio of 20.27 and a beta of 1.00. The firm’s 50 day moving average price is $66.29 and its 200 day moving average price is $63.90. Comcast Corp. has a 12-month low of $52.34 and a 12-month high of $68.36.
Comcast Corp. (NASDAQ:CMCSA) last posted its quarterly earnings results on Wednesday, July 27th. The cable giant reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. The firm had revenue of $18.74 billion for the quarter, compared to analysts’ expectations of $19.11 billion. Comcast Corp. had a net margin of 10.70% and a return on equity of 15.04%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 earnings per share. Equities research analysts expect that Comcast Corp. will post $3.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Monday, October 3rd. Comcast Corp.’s payout ratio is presently 33.43%.
A number of research analysts recently issued reports on CMCSA shares. Pivotal Research lifted their price objective on shares of Comcast Corp. from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, July 7th. Wells Fargo & Co. reissued a “buy” rating on shares of Comcast Corp. in a research note on Monday, July 18th. Barclays PLC reissued an “overweight” rating and issued a $69.00 price objective (up from $65.00) on shares of Comcast Corp. in a research note on Sunday, July 10th. Argus lifted their price objective on shares of Comcast Corp. from $72.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, August 8th. Finally, Credit Suisse Group AG reissued an “outperform” rating and issued a $75.00 price objective (up from $69.00) on shares of Comcast Corp. in a research note on Monday, August 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Comcast Corp. presently has a consensus rating of “Buy” and a consensus price target of $72.00.
In other Comcast Corp. news, EVP Arthur R. Block sold 1,023 shares of the stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $65.75, for a total transaction of $67,262.25. Following the transaction, the executive vice president now directly owns 47,539 shares in the company, valued at approximately $3,125,689.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Neil Smit sold 15,121 shares of the stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $65.68, for a total transaction of $993,147.28. Following the transaction, the executive vice president now owns 66,289 shares in the company, valued at $4,353,861.52. The disclosure for this sale can be found here. 1.27% of the stock is currently owned by insiders.
About Comcast Corp.
Comcast Corporation is a media and technology company. The Company’s primary businesses include Comcast Cable and NBCUniversal. Its Comcast Cable business operates in Cable Communications segment. Its NBCUniversal business consists of four segments, which include Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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