Verition Fund Management LLC grew its position in Comcast Co. (NASDAQ:CMCSA) by 1,566.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,743 shares of the cable giant’s stock after acquiring an additional 79,657 shares during the period. Verition Fund Management LLC’s holdings in Comcast were worth $2,896,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Sky Investment Group LLC boosted its holdings in Comcast by 7.3% during the fourth quarter. Sky Investment Group LLC now owns 37,132 shares of the cable giant’s stock worth $1,487,000 after buying an additional 2,536 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Comcast by 1.9% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 100,285 shares of the cable giant’s stock valued at $4,016,000 after buying an additional 1,853 shares in the last quarter. Hoylecohen LLC acquired a new position in Comcast in the 4th quarter valued at $211,000. Sequoia Financial Advisors LLC grew its holdings in Comcast by 26.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 10,298 shares of the cable giant’s stock valued at $412,000 after buying an additional 2,180 shares in the last quarter. Finally, Buckley Wealth Management LLC acquired a new position in Comcast in the 4th quarter valued at $755,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Arthur R. Block sold 6,700 shares of the firm’s stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $34.84, for a total transaction of $233,428.00. Following the completion of the transaction, the executive vice president now directly owns 62,988 shares in the company, valued at $2,194,501.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Daniel C. Murdock sold 1,694 shares of the firm’s stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $31.05, for a total value of $52,598.70. The disclosure for this sale can be found here. Insiders sold 26,538 shares of company stock valued at $894,675 over the last quarter. Corporate insiders own 1.31% of the company’s stock.
Comcast (NASDAQ:CMCSA) last posted its earnings results on Wednesday, April 25th. The cable giant reported $0.62 EPS for the quarter, beating the consensus estimate of $0.59 by $0.03. The firm had revenue of $22.79 billion during the quarter, compared to the consensus estimate of $22.74 billion. Comcast had a return on equity of 16.14% and a net margin of 26.79%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. analysts predict that Comcast Co. will post 2.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 25th. Shareholders of record on Tuesday, July 3rd will be given a $0.19 dividend. The ex-dividend date is Monday, July 2nd. This represents a $0.76 annualized dividend and a yield of 2.30%. Comcast’s dividend payout ratio is presently 36.89%.
A number of research analysts have commented on CMCSA shares. BidaskClub lowered Comcast from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. Macquarie lowered Comcast from an “outperform” rating to a “neutral” rating in a report on Wednesday, February 28th. Pivotal Research reaffirmed a “buy” rating and issued a $113.00 price objective on shares of Comcast in a report on Wednesday, February 28th. UBS Group reduced their target price on Comcast from $49.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, March 22nd. Finally, Cowen initiated coverage on Comcast in a report on Monday, March 26th. They set a “market perform” rating and a $39.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the company. Comcast has a consensus rating of “Buy” and an average price target of $46.57.
Comcast Company Profile
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.
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