Park Avenue Securities LLC increased its position in Comcast Corp. (NASDAQ:CMCSA) by 23.7% during the second quarter, Holdings Channel reports. The firm owned 7,692 shares of the cable giant’s stock after buying an additional 1,474 shares during the period. Park Avenue Securities LLC’s holdings in Comcast Corp. were worth $502,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in CMCSA. Bank of Montreal Can purchased a new stake in Comcast Corp. during the second quarter valued at $446,948,000. Wellington Management Group LLP boosted its stake in 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 valued at $3,306,753,000 after buying an additional 4,682,432 shares in the last quarter. Bessemer Group Inc. boosted its stake in 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 valued at $254,140,000 after buying an additional 4,098,329 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in 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 valued at $635,483,000 after buying an additional 1,291,270 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new stake in Comcast Corp. during the first quarter valued at $60,035,000. 82.22% of the stock is owned by hedge funds and other institutional investors.
Comcast Corp. (NASDAQ:CMCSA) traded down 0.05% during midday trading on Wednesday, reaching $65.80. The company’s stock had a trading volume of 8,251,405 shares. Comcast Corp. has a 52 week low of $52.34 and a 52 week high of $68.36. The company’s 50-day moving average is $66.10 and its 200 day moving average is $64.13. The firm has a market capitalization of $158.70 billion, a P/E ratio of 20.01 and a beta of 1.05.
Comcast Corp. (NASDAQ:CMCSA) last announced its quarterly earnings data on Wednesday, July 27th. The cable giant reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. The firm earned $18.74 billion during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $0.84 earnings per share. Analysts expect that Comcast Corp. will post $3.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be given a $0.275 dividend. The ex-dividend date is Monday, October 3rd. This represents a $1.10 dividend on an annualized basis and a yield of 1.67%. Comcast Corp.’s payout ratio is currently 33.43%.
CMCSA has been the subject of several recent analyst reports. Pivotal Research upped their price objective on shares of Comcast Corp. from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, July 7th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Comcast Corp. in a research report on Monday, July 18th. Barclays PLC reaffirmed an “overweight” rating and set a $69.00 price objective (up previously from $65.00) on shares of Comcast Corp. in a research report on Sunday, July 10th. Argus reaffirmed a “buy” rating and set a $81.00 price objective on shares of Comcast Corp. in a research report on Tuesday, September 27th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Comcast Corp. in a research report on Friday, September 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $72.00.
In other Comcast Corp. news, EVP Neil Smit sold 29,475 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $67.86, for a total value of $2,000,173.50. Following the completion of the transaction, the executive vice president now directly owns 81,410 shares of the company’s stock, valued at $5,524,482.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 completion of the transaction, the executive vice president now directly owns 47,539 shares of the company’s stock, valued at $3,125,689.25. 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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