Watch Point Trust Co lifted its position in Comcast Co. (NASDAQ:CMCSA) by 4.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 110,793 shares of the cable giant’s stock after purchasing an additional 4,874 shares during the quarter. Comcast comprises about 2.7% of Watch Point Trust Co’s holdings, making the stock its 7th biggest holding. Watch Point Trust Co’s holdings in Comcast were worth $4,994,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Commonwealth Equity Services LLC boosted its stake in Comcast by 3.1% during the second quarter. Commonwealth Equity Services LLC now owns 639,819 shares of the cable giant’s stock worth $27,051,000 after buying an additional 19,495 shares during the period. Chesley Taft & Associates LLC boosted its stake in Comcast by 4.0% during the second quarter. Chesley Taft & Associates LLC now owns 43,480 shares of the cable giant’s stock worth $1,838,000 after buying an additional 1,675 shares during the period. Cibc Bank USA boosted its stake in Comcast by 23.1% during the second quarter. Cibc Bank USA now owns 27,072 shares of the cable giant’s stock worth $1,145,000 after buying an additional 5,079 shares during the period. Cypress Capital Management LLC purchased a new position in Comcast during the second quarter worth about $8,070,000. Finally, Crestline Management LP purchased a new position in Comcast during the second quarter worth about $471,000. 82.79% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Brian L. Roberts sold 508,248 shares of Comcast stock in a transaction on Monday, October 28th. The stock was sold at an average price of $44.98, for a total transaction of $22,860,995.04. Following the completion of the transaction, the chief executive officer now owns 4,108,522 shares of the company’s stock, valued at approximately $184,801,319.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sheldon M. Bonovitz sold 5,600 shares of Comcast stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $45.47, for a total value of $254,632.00. Following the transaction, the director now directly owns 27,912 shares of the company’s stock, valued at approximately $1,269,158.64. The disclosure for this sale can be found here. Insiders have sold a total of 518,696 shares of company stock valued at $23,333,254 in the last ninety days. Corporate insiders own 1.35% of the company’s stock.
Several analysts have recently issued reports on CMCSA shares. Benchmark started coverage on shares of Comcast in a research report on Wednesday, September 25th. They set a “buy” rating and a $64.00 price target on the stock. Bank of America set a $58.00 price target on shares of Comcast and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Guggenheim set a $57.00 price target on shares of Comcast and gave the stock a “buy” rating in a research report on Friday, October 25th. Oppenheimer raised shares of Comcast from a “market perform” rating to an “outperform” rating and set a $54.00 price target on the stock in a research report on Thursday, September 5th. Finally, BidaskClub cut shares of Comcast from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $50.52.
Shares of CMCSA traded up $0.49 during mid-day trading on Friday, reaching $45.19. 13,741,600 shares of the company’s stock were exchanged, compared to its average volume of 17,858,869. Comcast Co. has a 52-week low of $32.61 and a 52-week high of $47.27. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.86. The business’s fifty day simple moving average is $45.15 and its 200-day simple moving average is $43.80. The stock has a market capitalization of $201.44 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.18 and a beta of 1.07.
Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, October 24th. The cable giant reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. Comcast had a return on equity of 24.25% and a net margin of 11.45%. The company had revenue of $26.83 billion during the quarter, compared to the consensus estimate of $26.77 billion. During the same quarter last year, the company earned $0.65 earnings per share. Comcast’s quarterly revenue was up 21.2% compared to the same quarter last year. Equities research analysts predict that Comcast Co. will post 3.09 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Tuesday, January 7th. Comcast’s dividend payout ratio (DPR) is presently 32.94%.
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, and security and automation services to residential and business customers under the Xfinity name; and advertising services.
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