Prudential Financial Inc. raised its stake in Comcast Corp. (NASDAQ:CMCSA) by 8.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,790,374 shares of the cable giant’s stock after buying an additional 456,241 shares during the period. Comcast Corp. accounts for 0.6% of Prudential Financial Inc.’s portfolio, making the stock its 25th largest position. Prudential Financial Inc. owned approximately 0.24% of Comcast Corp. worth $377,475,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the company. Private Advisor Group LLC boosted its stake in shares of Comcast Corp. by 34.8% in the second quarter. Private Advisor Group LLC now owns 70,789 shares of the cable giant’s stock valued at $4,725,000 after buying an additional 18,271 shares during the period. Hancock Holding Co. boosted its stake in shares of Comcast Corp. by 997.9% in the second quarter. Hancock Holding Co. now owns 244,230 shares of the cable giant’s stock valued at $15,921,000 after buying an additional 221,984 shares during the period. BTIM Corp. boosted its stake in shares of Comcast Corp. by 7.1% in the second quarter. BTIM Corp. now owns 1,013,430 shares of the cable giant’s stock valued at $66,066,000 after buying an additional 67,256 shares during the period. Bradley Foster & Sargent Inc. CT boosted its stake in shares of Comcast Corp. by 143.1% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 165,312 shares of the cable giant’s stock valued at $10,777,000 after buying an additional 97,305 shares during the period. Finally, D Orazio & Associates Inc. boosted its stake in shares of Comcast Corp. by 5.3% in the second quarter. D Orazio & Associates Inc. now owns 1,563 shares of the cable giant’s stock valued at $102,000 after buying an additional 79 shares during the period. 82.22% of the stock is owned by institutional investors and hedge funds.
Comcast Corp. (NASDAQ:CMCSA) traded down 1.97% during midday trading on Monday, reaching $65.83. The company’s stock had a trading volume of 2,508,348 shares. Comcast Corp. has a 52 week low of $52.34 and a 52 week high of $68.36. The firm has a 50 day moving average price of $66.37 and a 200-day moving average price of $63.70. The firm has a market cap of $158.77 billion, a P/E ratio of 20.02 and a beta of 1.00.
Comcast Corp. (NASDAQ:CMCSA) last issued its quarterly earnings results on Wednesday, July 27th. The cable giant reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The company earned $18.74 billion during the quarter, compared to analyst estimates of $19.11 billion. Comcast Corp. had a net margin of 10.70% and a return on equity of 15.04%. Comcast Corp.’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business earned $0.84 EPS. On average, analysts forecast that Comcast Corp. will post $3.52 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.10 annualized dividend and a dividend yield of 1.64%. Comcast Corp.’s payout ratio is 33.43%.
Several brokerages recently issued reports on CMCSA. Robert W. Baird reiterated an “outperform” rating and set a $70.00 price objective on shares of Comcast Corp. in a report on Sunday. Barclays PLC reiterated an “overweight” rating and set a $70.00 price objective on shares of Comcast Corp. in a report on Thursday. Telsey Advisory Group increased their price objective on Comcast Corp. from $75.00 to $76.50 and gave the stock an “outperform” rating in a report on Friday, August 19th. Argus increased their price objective on Comcast Corp. from $72.00 to $81.00 and gave the stock a “buy” rating in a report on Monday, August 8th. Finally, Credit Suisse Group AG reiterated an “outperform” rating and set a $75.00 price objective (up from $69.00) on shares of Comcast Corp. in a report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $72.00.
In related 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 value of $67,262.25. Following the completion of 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, Chairman Brian L. Roberts sold 304,109 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $67.26, for a total transaction of $20,454,371.34. Following the completion of the transaction, the chairman now owns 630,596 shares of the company’s stock, valued at $42,413,886.96. The disclosure for this sale can be found here. 1.27% of the stock is currently owned by corporate insiders.
Comcast Corp. Company Profile
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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