Palouse Capital Management Inc. lowered its position in Comcast Corp. (NASDAQ:CMCSA) by 1.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,815 shares of the cable giant’s stock after selling 593 shares during the period. Palouse Capital Management Inc.’s holdings in Comcast Corp. were worth $2,204,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. First Manhattan Co. raised its stake in Comcast Corp. by 12.6% in the first quarter. First Manhattan Co. now owns 3,253,404 shares of the cable giant’s stock worth $198,720,000 after buying an additional 364,458 shares during the period. Douglas Lane & Associates LLC acquired a new stake in Comcast Corp. during the first quarter worth about $20,099,000. Duncker Streett & Co. Inc. raised its stake in Comcast Corp. by 17.3% in the first quarter. Duncker Streett & Co. Inc. now owns 26,841 shares of the cable giant’s stock worth $1,639,000 after buying an additional 3,957 shares during the period. Wilbanks Smith & Thomas Asset Management LLC raised its stake in Comcast Corp. by 7.6% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 21,079 shares of the cable giant’s stock worth $1,287,000 after buying an additional 1,489 shares during the period. Finally, RDL Financial Inc. raised its stake in Comcast Corp. by 13.8% in the first quarter. RDL Financial Inc. now owns 40,177 shares of the cable giant’s stock worth $2,454,000 after buying an additional 4,884 shares during the period. 82.22% of the stock is owned by hedge funds and other institutional investors.
Shares of Comcast Corp. (NASDAQ:CMCSA) traded up 0.14% during mid-day trading on Friday, hitting $66.34. 10,567,846 shares of the company traded hands. The firm has a market cap of $160.00 billion, a price-to-earnings ratio of 20.17 and a beta of 1.00. 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 $66.23 and a 200 day moving average price of $63.97.
Comcast Corp. (NASDAQ:CMCSA) last issued its earnings results on Wednesday, July 27th. The cable giant reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. The company 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 firm’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 earnings per share. Equities research analysts anticipate that Comcast Corp. will post $3.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be issued a dividend of $0.275 per share. The ex-dividend date is Monday, October 3rd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.66%. Comcast Corp.’s dividend payout ratio (DPR) is 33.43%.
A number of brokerages have recently weighed in on CMCSA. Nomura raised their price objective on shares of Comcast Corp. from $70.00 to $73.00 and gave the company a “buy” rating in a report on Monday, June 27th. Robert W. Baird restated an “outperform” rating and issued a $67.00 price objective on shares of Comcast Corp. in a report on Tuesday, June 28th. Pivotal Research raised their price objective on shares of Comcast Corp. from $74.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, July 7th. Barclays PLC restated an “overweight” rating and issued a $69.00 price objective (up from $65.00) on shares of Comcast Corp. in a report on Sunday, July 10th. Finally, Oppenheimer Holdings Inc. restated a “buy” rating and issued a $70.00 price objective on shares of Comcast Corp. in a report on Monday, July 11th. One analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Comcast Corp. currently has an average rating of “Buy” and a consensus price target of $72.00.
In other news, EVP Neil Smit sold 29,475 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $67.86, for a total transaction of $2,000,173.50. Following the completion of the transaction, the executive vice president now owns 81,410 shares in the company, valued at $5,524,482.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Brian L. Roberts sold 304,109 shares of the company’s 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 transaction, the chairman now owns 630,596 shares of the company’s stock, valued at approximately $42,413,886.96. The disclosure for this sale can be found here. Company insiders own 1.27% of the company’s stock.
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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