Cadence Capital Management LLC lowered its stake in Comcast Co. (NASDAQ:CMCSA) by 18.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,488 shares of the cable giant’s stock after selling 15,219 shares during the period. Comcast makes up approximately 0.7% of Cadence Capital Management LLC’s holdings, making the stock its 23rd largest holding. Cadence Capital Management LLC’s holdings in Comcast were worth $3,029,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp lifted its holdings in shares of Comcast by 0.9% during the first quarter. State Street Corp now owns 175,742,450 shares of the cable giant’s stock valued at $6,082,213,000 after purchasing an additional 1,632,045 shares during the last quarter. Cohen & Steers Inc. purchased a new stake in Comcast during the 1st quarter valued at $113,000. CIBC World Markets Inc. raised its stake in Comcast by 17.3% during the 1st quarter. CIBC World Markets Inc. now owns 528,004 shares of the cable giant’s stock valued at $18,153,000 after buying an additional 77,941 shares during the last quarter. Morgan Stanley raised its stake in Comcast by 8.8% during the 1st quarter. Morgan Stanley now owns 32,925,320 shares of the cable giant’s stock valued at $1,131,972,000 after buying an additional 2,651,445 shares during the last quarter. Finally, AXA grew its position in shares of Comcast by 21.2% during the 1st quarter. AXA now owns 1,361,630 shares of the cable giant’s stock valued at $46,813,000 after acquiring an additional 238,302 shares during the period. 82.80% of the stock is currently owned by institutional investors.
In other Comcast news, CEO Jeff Shell sold 99,484 shares of Comcast stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $42.91, for a total value of $4,268,858.44. Corporate insiders own 1.35% of the company’s stock.
Several brokerages recently weighed in on CMCSA. Barclays upped their target price on shares of Comcast from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday. BidaskClub downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 3rd. Pivotal Research upped their target price on shares of Comcast from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, September 16th. ValuEngine upgraded shares of Comcast from a “sell” rating to a “hold” rating in a research report on Wednesday, September 9th. Finally, Morgan Stanley increased their price objective on shares of Comcast from $49.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $50.18.
NASDAQ:CMCSA traded up $0.45 on Friday, hitting $45.56. 13,361,955 shares of the company’s stock traded hands, compared to its average volume of 22,320,676. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.25. Comcast Co. has a 1 year low of $31.70 and a 1 year high of $47.74. The firm has a 50-day moving average price of $45.21 and a 200-day moving average price of $41.02. The company has a market cap of $208.12 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 1.91 and a beta of 0.93.
Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, July 30th. The cable giant reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.14. The business had revenue of $23.72 billion during the quarter, compared to analysts’ expectations of $23.56 billion. Comcast had a return on equity of 16.66% and a net margin of 10.91%. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 EPS. On average, research analysts forecast that Comcast Co. will post 2.47 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, October 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.02%. Comcast’s dividend payout ratio (DPR) is presently 29.39%.
Comcast Company Profile
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, wireless, and security and automation services to residential and business customers under the Xfinity brand; and advertising services.
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