Investment Centers of America Inc. cut its holdings in Comcast Corporation (NASDAQ:CMCSA) by 23.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,360 shares of the cable giant’s stock after selling 7,572 shares during the quarter. Investment Centers of America Inc.’s holdings in Comcast were worth $951,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of CMCSA. State Street Corp grew its stake in Comcast by 97.6% in the 1st quarter. State Street Corp now owns 199,519,367 shares of the cable giant’s stock valued at $7,499,933,000 after purchasing an additional 98,570,377 shares during the period. Clearbridge Investments LLC grew its stake in Comcast by 97.6% in the 1st quarter. Clearbridge Investments LLC now owns 97,454,749 shares of the cable giant’s stock valued at $3,663,324,000 after purchasing an additional 48,147,456 shares during the period. Ameriprise Financial Inc. grew its stake in Comcast by 95.7% in the 1st quarter. Ameriprise Financial Inc. now owns 59,716,372 shares of the cable giant’s stock valued at $2,244,768,000 after purchasing an additional 29,199,805 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Comcast by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 57,003,759 shares of the cable giant’s stock worth $2,218,587,000 after acquiring an additional 680,012 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of Comcast by 6.0% during the 2nd quarter. Alliancebernstein L.P. now owns 32,710,682 shares of the cable giant’s stock worth $1,273,100,000 after acquiring an additional 1,839,436 shares during the period. 82.50% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Kenneth J. Bacon sold 2,232 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $37.27, for a total value of $83,186.64. Following the completion of the transaction, the director now owns 24,580 shares of the company’s stock, valued at $916,096.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Arthur R. Block sold 4,091 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $38.36, for a total value of $156,930.76. Following the completion of the sale, the executive vice president now owns 68,478 shares in the company, valued at $2,626,816.08. The disclosure for this sale can be found here. Insiders own 1.28% of the company’s stock.
Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, October 26th. The cable giant reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Comcast had a return on equity of 17.17% and a net margin of 11.99%. The company had revenue of $20.98 billion during the quarter, compared to analysts’ expectations of $21.05 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. Comcast’s revenue for the quarter was down 1.6% compared to the same quarter last year. equities analysts forecast that Comcast Corporation will post 2.06 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 3rd will be issued a dividend of $0.157 per share. This represents a $0.63 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Tuesday, January 2nd. Comcast’s dividend payout ratio is presently 30.36%.
Several research analysts have recently weighed in on the company. ValuEngine downgraded Comcast from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Robert W. Baird restated a “buy” rating and issued a $43.00 target price on shares of Comcast in a research note on Friday, September 1st. BidaskClub upgraded Comcast from a “strong sell” rating to a “sell” rating in a research note on Tuesday. UBS reaffirmed an “overweight” rating on shares of Comcast in a report on Thursday, August 24th. Finally, Moffett Nathanson raised Comcast from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Tuesday, September 12th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $45.93.
Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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