Port Capital LLC reduced its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 7.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 38,671 shares of the cable giant’s stock after selling 2,914 shares during the period. Port Capital LLC’s holdings in Comcast were worth $1,369,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Acropolis Investment Management LLC bought a new position in shares of Comcast in the third quarter valued at approximately $126,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Comcast in the second quarter valued at approximately $129,000. Resources Investment Advisors Inc. grew its holdings in shares of Comcast by 51.4% in the second quarter. Resources Investment Advisors Inc. now owns 4,465 shares of the cable giant’s stock valued at $147,000 after acquiring an additional 1,516 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new position in Comcast during the third quarter valued at $149,000. Finally, Stelac Advisory Services LLC bought a new position in Comcast during the third quarter valued at $154,000. 79.99% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:CMCSA opened at $37.41 on Friday. The firm has a market cap of $175.93 billion, a price-to-earnings ratio of 18.16, a P/E/G ratio of 1.19 and a beta of 0.92. Comcast Co. has a 1 year low of $30.43 and a 1 year high of $44.00. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.
Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, October 25th. The cable giant reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.04. The firm had revenue of $22.14 billion for the quarter, compared to the consensus estimate of $21.75 billion. Comcast had a return on equity of 15.79% and a net margin of 27.33%. On average, analysts predict that Comcast Co. will post 2.54 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Shareholders of record on Wednesday, January 2nd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 2.03%. Comcast’s dividend payout ratio is currently 36.89%.
In related news, EVP Arthur R. Block sold 6,448 shares of the stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $35.48, for a total value of $228,775.04. Following the sale, the executive vice president now owns 74,644 shares in the company, valued at $2,648,369.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Arthur R. Block sold 1,082 shares of the stock in a transaction on Monday, September 24th. The stock was sold at an average price of $35.94, for a total value of $38,887.08. Following the completion of the sale, the executive vice president now owns 62,476 shares in the company, valued at approximately $2,245,387.44. The disclosure for this sale can be found here. Corporate insiders own 1.31% of the company’s stock.
Several equities analysts have weighed in on the company. Wolfe Research assumed coverage on Comcast in a report on Friday. They set an “outperform” rating for the company. BidaskClub lowered Comcast from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Barclays assumed coverage on Comcast in a report on Tuesday, November 13th. They set an “overweight” rating and a $44.00 price objective for the company. Morgan Stanley assumed coverage on Comcast in a report on Thursday, November 8th. They set an “overweight” rating and a $46.00 price objective for the company. Finally, Scotiabank set a $48.00 price objective on Comcast and gave the company a “buy” rating in a report on Wednesday, October 31st. Nine research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Comcast currently has a consensus rating of “Buy” and a consensus target price of $44.61.
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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