Kenneth J. Bacon Sells 7,500 Shares of Comcast Co. (CMCSA) Stock
Comcast Co. (NASDAQ:CMCSA) Director Kenneth J. Bacon sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $40.50, for a total value of $303,750.00. Following the completion of the transaction, the director now directly owns 26,812 shares in the company, valued at $1,085,886. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Comcast Co. (NASDAQ:CMCSA) traded up 1.41% on Friday, hitting $40.91. The stock had a trading volume of 18,189,485 shares. Comcast Co. has a 12 month low of $30.02 and a 12 month high of $40.99. The firm’s 50-day moving average price is $38.67 and its 200 day moving average price is $36.76. The firm has a market cap of $194.42 billion, a P/E ratio of 21.70 and a beta of 1.07.
Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 27th. The cable giant reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. The business had revenue of $20.46 billion during the quarter, compared to analysts’ expectations of $20.10 billion. Comcast had a net margin of 10.81% and a return on equity of 15.30%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.84 earnings per share. Analysts anticipate that Comcast Co. will post $1.98 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Wednesday, July 5th will be paid a dividend of $0.1575 per share. The ex-dividend date is Friday, June 30th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.54%. Comcast’s dividend payout ratio is currently 30.81%.
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CMCSA has been the topic of several research analyst reports. Jefferies Group LLC reissued a “buy” rating and set a $47.00 price target (up from $43.00) on shares of Comcast in a report on Saturday, April 29th. Royal Bank of Canada increased their price target on Comcast from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, May 1st. Instinet reissued a “buy” rating and set a $43.00 price target (down from $46.00) on shares of Comcast in a report on Saturday, April 29th. Barclays PLC set a $46.00 price target on Comcast and gave the company an “overweight” rating in a report on Monday, May 1st. Finally, Credit Suisse Group AG increased their price target on Comcast from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, May 5th. One research analyst has rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $43.35.
Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Comcast by 105.5% in the first quarter. Vanguard Group Inc. now owns 308,168,195 shares of the cable giant’s stock worth $11,584,042,000 after buying an additional 158,220,898 shares in the last quarter. State Street Corp boosted its stake in Comcast by 97.6% in the first quarter. State Street Corp now owns 199,519,367 shares of the cable giant’s stock worth $7,499,933,000 after buying an additional 98,570,377 shares in the last quarter. FMR LLC boosted its stake in Comcast by 97.3% in the first quarter. FMR LLC now owns 98,107,570 shares of the cable giant’s stock worth $3,687,864,000 after buying an additional 48,376,061 shares in the last quarter. Wellington Management Group LLP boosted its stake in Comcast by 91.2% in the first quarter. Wellington Management Group LLP now owns 87,354,659 shares of the cable giant’s stock worth $3,283,661,000 after buying an additional 41,671,920 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Comcast by 112.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 59,880,644 shares of the cable giant’s stock worth $2,250,912,000 after buying an additional 31,678,523 shares in the last quarter. 82.03% of the stock is owned by institutional investors and hedge funds.
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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